Dodge Cox Correlations

DOXIX Fund

USD 13.07 0.03 0.23%

The current 90-days correlation between Dodge Cox Income and Capital Income Builder is 0.33 (i.e., Weak 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 Cox Income and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dodge Cox Income 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 Cox Income. 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 gross domestic product.

Moving together with Dodge Mutual Fund

0.73	DODGX	Dodge Stock Fund	Pair Corr
0.81	DODFX	Dodge International Stock	Pair Corr
0.79	DODEX	Dodge Cox Emerging	Pair Corr
0.76	DODBX	Dodge Balanced	Pair Corr
0.74	DODWX	Dodge Global Stock	Pair Corr
0.92	DODLX	Dodge Global Bond	Pair Corr
1.0	DODIX	Dodge Income	Pair Corr
0.92	DOXLX	Dodge Cox Global	Pair Corr
0.73	DOXGX	Dodge Cox Stock	Pair Corr
0.8	DOXFX	Dodge Cox International	Pair Corr
0.76	DOXBX	Dodge Cox Balanced	Pair Corr
0.74	DOXWX	Dodge Cox Global	Pair Corr
0.93	FIWGX	Strategic Advisers	Pair Corr
0.81	MWTNX	Metropolitan West Total	Pair Corr
0.88	MWTSX	Metropolitan West Total	Pair Corr
0.98	PTTPX	Pimco Total Return	Pair Corr
0.98	PTRRX	Total Return	Pair Corr
0.98	PTRAX	Total Return	Pair Corr
0.98	PTTRX	Total Return	Pair Corr
0.96	PDBSX	Prudential Total Return	Pair Corr
0.81	NHS	Neuberger Berman High	Pair Corr
0.65	CNPFX	New Perspective	Pair Corr
0.69	JSVZX	Jpmorgan Small Cap	Pair Corr
0.79	FYMRX	Fidelity Sustainable	Pair Corr
0.91	GCGGX	Deutsche Gnma	Pair Corr
0.79	XUTFX	Cohen Steers Infrast	Pair Corr
0.61	VEMPX	Vanguard Extended Market	Pair Corr
0.74	PFFFX	Pfg Fidelity Institu	Pair Corr
0.74	JLJEX	Retirement Living Through	Pair Corr
0.79	IORJX	Aim Taxexempt Funds	Pair Corr
0.94	CDBCX	Diversified Bond	Pair Corr
0.8	HHHYX	Hartford Schroders	Pair Corr
0.82	MCBVX	Mfs Mid Cap	Pair Corr
0.83	BAICX	Blackrock Incm Ptf	Pair Corr
0.83	VIVAX	Vanguard Value Index	Pair Corr
0.65	GILLX	Goldman Sachs Flexible	Pair Corr
0.75	NAESX	Vanguard Small Cap	Pair Corr
0.92	CLEGX	Columbia College 529	Pair Corr

Related Correlations Analysis

	BFAFX	PABGX	PRUFX	RRBGX	FKINX	FNCFX	TBCIX	RAFFX	TRSAX	CIBFX
BFAFX		-0.41	0.2	0.03	0.73	0.75	0.01	0.1	-0.49	0.79	BFAFX
PABGX	-0.41		0.22	0.54	-0.37	-0.35	0.58	0.73	0.92	-0.4	PABGX
PRUFX	0.2	0.22		0.94	0.57	0.56	0.92	0.56	0.04	0.48	PRUFX
RRBGX	0.03	0.54	0.94		0.35	0.35	1.0	0.76	0.37	0.26	RRBGX
FKINX	0.73	-0.37	0.57	0.35		0.98	0.32	0.22	-0.58	0.97	FKINX
FNCFX	0.75	-0.35	0.56	0.35	0.98		0.31	0.25	-0.57	0.98	FNCFX
TBCIX	0.01	0.58	0.92	1.0	0.32	0.31		0.78	0.42	0.23	TBCIX
RAFFX	0.1	0.73	0.56	0.76	0.22	0.25	0.78		0.61	0.19	RAFFX
TRSAX	-0.49	0.92	0.04	0.37	-0.58	-0.57	0.42	0.61		-0.59	TRSAX
CIBFX	0.79	-0.4	0.48	0.26	0.97	0.98	0.23	0.19	-0.59		CIBFX
	BFAFX	PABGX	PRUFX	RRBGX	FKINX	FNCFX	TBCIX	RAFFX	TRSAX	CIBFX

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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

TBCIX	+ 1.0	RRBGX
FNCFX	+ 0.98	FKINX
CIBFX	+ 0.98	FNCFX
CIBFX	+ 0.97	FKINX
RRBGX	+ 0.94	PRUFX
TRSAX	+ 0.92	PABGX

High negative correlations

CIBFX	- 0.59	TRSAX
TRSAX	- 0.58	FKINX
TRSAX	- 0.57	FNCFX
TRSAX	- 0.49	BFAFX
PABGX	- 0.41	BFAFX
CIBFX	- 0.4	PABGX

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
BFAFX	0.14	0.01	(0.15)	0.21	0.00	(0.18)	0.26	(0.26)	0.62
PABGX	0.93	(0.14)	0.00	(0.15)	0.00	0.00	1.50	(2.01)	10.73
PRUFX	0.97	0.05	0.05	0.09	1.07	(1.02)	1.38	(2.00)	17.71
RRBGX	0.85	(0.06)	0.00	(0.02)	0.00	0.00	1.49	(1.99)	8.67
FKINX	0.28	0.10	0.13	6.08	0.00	(0.48)	0.82	(0.41)	1.25
FNCFX	0.31	0.07	0.07	0.33	0.04	(0.52)	0.82	(0.42)	2.44
TBCIX	0.84	(0.07)	0.00	(0.03)	0.00	0.00	1.50	(1.99)	7.92
RAFFX	0.69	(0.08)	0.00	(0.05)	0.00	0.00	1.28	(1.79)	4.24
TRSAX	0.75	(0.16)	0.00	(0.18)	0.00	0.00	1.38	(2.02)	4.97
CIBFX	0.38	0.08	0.11	0.20	0.30	(0.42)	0.80	(0.75)	2.30

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