Destra Preferred Correlations

DPIAX Fund

USD 17.26 0.02 0.12%

The current 90-days correlation between Destra Preferred And and Nationwide Growth Fund is 0.12 (i.e., Average diversification). The correlation of Destra Preferred 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.

Destra Preferred Correlation With Market

Significant diversification

The correlation between Destra Preferred And and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Destra Preferred And 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 Destra Preferred And. 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 nation.

Moving together with Destra Mutual Fund

0.9	DPICX	Destra Preferred And	Pair Corr
0.77	CPXZX	Cohen Steers Preferred	Pair Corr
0.8	CPXFX	Cohen Steers Preferred	Pair Corr
0.69	NPSAX	Nuveen Preferred Sec	Pair Corr
0.69	NPSCX	Nuveen Preferred Sec	Pair Corr
0.72	PPSJX	Preferred Securities	Pair Corr
0.77	FTYPX	Fidelity Freedom Index	Pair Corr
0.67	GAAVX	Gmo Alternative Allo	Pair Corr
0.75	GQLOX	Gmo Quality Fund	Pair Corr
0.68	GMCQX	Gmo Equity Allocation	Pair Corr
0.64	CPPCX	American Funds Prese	Pair Corr
0.78	FFGRX	Emerald Growth	Pair Corr
0.71	LFRFX	Floating Rate	Pair Corr
0.83	CRIAX	Crm Smallmid Cap	Pair Corr
0.7	SRCMX	California Municipal	Pair Corr
0.81	MPIEX	Mondrian International	Pair Corr
0.74	KDHIX	Deutsche Croci Equity	Pair Corr
0.82	KHYCX	Deutsche High Income	Pair Corr
0.66	EFRRX	Eaton Vance Floating	Pair Corr
0.71	SASVX	Ridgeworth Ceredex Small	Pair Corr

Moving against Destra Mutual Fund

0.57

GABFX

Gmo Asset Allocation

Pair Corr

Related Correlations Analysis

	GGFRX	PRNHX	VCGAX	PLAAX	CHASX	TEGAX
GGFRX		0.53	0.87	0.89	0.7	0.63	GGFRX
PRNHX	0.53		0.71	0.3	0.51	0.27	PRNHX
VCGAX	0.87	0.71		0.65	0.67	0.47	VCGAX
PLAAX	0.89	0.3	0.65		0.69	0.73	PLAAX
CHASX	0.7	0.51	0.67	0.69		0.78	CHASX
TEGAX	0.63	0.27	0.47	0.73	0.78		TEGAX
	GGFRX	PRNHX	VCGAX	PLAAX	CHASX	TEGAX

Risk-Adjusted Indicators

There is a big difference between Destra Mutual Fund performing well and Destra Preferred 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 Destra Preferred'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
GGFRX	0.65	0.05	0.04	0.14	0.72	(0.74)	1.43	(1.17)	6.65
PRNHX	1.26	0.01	0.01	0.09	1.91	(1.41)	1.81	(2.08)	21.91
VCGAX	0.58	(0.02)	(0.03)	0.06	0.86	(0.54)	1.31	(1.18)	3.14
PLAAX	1.33	0.51	0.33	(1.14)	0.61	(1.59)	1.90	(1.92)	36.26
CHASX	1.06	0.21	0.14	0.35	0.98	(1.21)	1.95	(1.55)	12.57
TEGAX	1.05	0.18	0.09	4.44	0.93	(1.29)	1.30	(1.75)	15.47

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