Dodge Cox Correlations

DODWX Fund

USD 16.51 0.13 0.79%

The current 90-days correlation between Dodge Global Stock and Ab Impact Municipal is -0.18 (i.e., Good diversification). The correlation of Dodge Cox is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Dodge Cox Correlation With Market

Poor diversification

The correlation between Dodge Global Stock and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dodge Global Stock and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Dodge Global Stock. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with Dodge Mutual Fund

0.91	DODFX	Dodge International Stock	Pair Corr
0.88	DODEX	Dodge Cox Emerging	Pair Corr
0.61	DODBX	Dodge Balanced	Pair Corr
0.91	DOXFX	Dodge Cox International	Pair Corr
0.61	DOXBX	Dodge Cox Balanced	Pair Corr
1.0	DOXWX	Dodge Cox Global	Pair Corr
0.76	TEDRX	Franklin Mutual Global	Pair Corr
0.78	FMDRX	Franklin Mutual Global	Pair Corr
0.88	TRZRX	T Rowe Price	Pair Corr
0.77	TEDIX	Franklin Mutual Global	Pair Corr
0.78	MDISX	Franklin Mutual Global	Pair Corr
0.74	TEDSX	Franklin Mutual Global	Pair Corr
0.88	PRAFX	T Rowe Price	Pair Corr
0.81	VGTSX	Vanguard Total Inter	Pair Corr
0.81	VTIAX	Vanguard Total Inter	Pair Corr
0.72	RIV	Rivernorth Opportunities	Pair Corr

Related Correlations Analysis

	ABIMX	FYMNX	PMUYX	OKMUX	GABTX	TIMTX	BBINX
ABIMX		0.95	0.96	0.92	-0.15	0.99	0.98	ABIMX
FYMNX	0.95		0.86	0.82	0.09	0.96	0.93	FYMNX
PMUYX	0.96	0.86		0.97	-0.31	0.95	0.97	PMUYX
OKMUX	0.92	0.82	0.97		-0.39	0.93	0.95	OKMUX
GABTX	-0.15	0.09	-0.31	-0.39		-0.14	-0.19	GABTX
TIMTX	0.99	0.96	0.95	0.93	-0.14		0.99	TIMTX
BBINX	0.98	0.93	0.97	0.95	-0.19	0.99		BBINX
	ABIMX	FYMNX	PMUYX	OKMUX	GABTX	TIMTX	BBINX

Click cells to compare fundamentals

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

TIMTX	+ 0.99	ABIMX
BBINX	+ 0.99	TIMTX
BBINX	+ 0.98	ABIMX
OKMUX	+ 0.97	PMUYX
BBINX	+ 0.97	PMUYX
PMUYX	+ 0.96	ABIMX

High negative correlations

GABTX	- 0.39	OKMUX
GABTX	- 0.31	PMUYX
BBINX	- 0.19	GABTX
GABTX	- 0.15	ABIMX
TIMTX	- 0.14	GABTX

Risk-Adjusted Indicators

There is a big difference between Dodge Mutual Fund performing well and Dodge Cox Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Dodge Cox's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ABIMX	0.18	0.02	(0.26)	(0.01)	0.28	(0.23)	0.40	(0.50)	1.73
FYMNX	0.13	0.01	(0.34)	(0.01)	0.18	(0.19)	0.37	(0.28)	1.39
PMUYX	0.10	0.00	(0.42)	0.16	0.18	(0.15)	0.25	(0.24)	1.07
OKMUX	0.14	0.00	0.00	0.13	0.00	0.00	0.29	(0.47)	1.52
GABTX	0.52	0.03	(0.06)	0.18	0.47	(0.59)	1.10	(1.00)	3.22
TIMTX	0.14	0.01	(0.33)	0.01	0.21	(0.21)	0.37	(0.28)	1.40
BBINX	0.11	0.00	(0.44)	0.10	0.16	(0.18)	0.29	(0.29)	1.07

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