Destra Preferred Correlations

DPIAX Fund

USD 17.24 0.01 0.06%

The current 90-days correlation between Destra Preferred And and Specialized Technology Fund is 0.19 (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 0.08 (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

0.99	DPIIX	Destra Preferred And	Pair Corr
0.99	DPICX	Destra Preferred And	Pair Corr
0.83	CPXIX	Cohen Steers Prfrd	Pair Corr
0.82	CPXAX	Cohen Steers Preferd	Pair Corr
0.8	CPXCX	Cohen Steers Prefrd	Pair Corr
0.82	CPRRX	Cohen Steers Preferred	Pair Corr
0.82	CPXZX	Cohen Steers Preferred	Pair Corr
0.84	CPXFX	Cohen Steers Preferred	Pair Corr
0.83	NPSAX	Nuveen Preferred Sec	Pair Corr
0.83	NPSCX	Nuveen Preferred Sec	Pair Corr
0.92	PPSJX	Preferred Securities	Pair Corr
0.86	FCISX	Franklin Income	Pair Corr
0.79	BUFBX	Buffalo Flexible Income	Pair Corr
0.78	TNXAX	1290 Doubleline Dynamic	Pair Corr
0.87	GABSX	Gabelli Small	Pair Corr
0.78	LMCCX	Lord Abbett Mid	Pair Corr
0.81	AWYIX	At Equity Income	Pair Corr
0.81	JAHYX	Janus High Yield	Pair Corr
0.75	TILGX	Tiaa Cref Large	Pair Corr
0.85	MOPIX	Mainstay Epoch Small	Pair Corr
0.69	RBLCX	Balanced Strategy	Pair Corr
0.75	ECLDX	Eaton Vance Short	Pair Corr
0.74	SGGAX	Deutsche Large Cap	Pair Corr
0.78	BIERX	Brandes International	Pair Corr
0.74	HGICX	Hartford E Equity	Pair Corr
0.61	BUFMX	Buffalo Mid Cap	Pair Corr
0.77	JDPNX	Perkins Mid Cap	Pair Corr
0.83	DFVIX	Dfa International Value	Pair Corr
0.78	FHLEX	Fidelity Freedom Blend	Pair Corr
0.72	JGACX	Jpmorgan Growth Advantage	Pair Corr
0.61	DISCX	International Stock	Pair Corr
0.61	RERCX	Europacific Growth	Pair Corr

Related Correlations Analysis

	WFSTX	BIPIX	CMTFX	TOWTX	TEFQX	MTCCX
WFSTX		0.29	0.64	0.36	0.14	0.93	WFSTX
BIPIX	0.29		0.39	0.55	-0.65	0.58	BIPIX
CMTFX	0.64	0.39		0.71	0.34	0.64	CMTFX
TOWTX	0.36	0.55	0.71		0.07	0.44	TOWTX
TEFQX	0.14	-0.65	0.34	0.07		-0.16	TEFQX
MTCCX	0.93	0.58	0.64	0.44	-0.16		MTCCX
	WFSTX	BIPIX	CMTFX	TOWTX	TEFQX	MTCCX

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

MTCCX	+ 0.93	WFSTX
TOWTX	+ 0.71	CMTFX
CMTFX	+ 0.64	WFSTX
MTCCX	+ 0.64	CMTFX
MTCCX	+ 0.58	BIPIX
TOWTX	+ 0.55	BIPIX

High negative correlations

TEFQX	- 0.65	BIPIX
MTCCX	- 0.16	TEFQX

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
WFSTX	1.18	0.23	0.09	(0.69)	1.13	(1.38)	1.69	(2.65)	20.70
BIPIX	1.66	0.28	0.14	0.29	1.67	(1.75)	4.26	(2.97)	10.99
CMTFX	1.02	0.01	0.01	0.08	1.63	(0.92)	2.16	(2.59)	6.22
TOWTX	0.72	(0.05)	(0.06)	0.02	0.93	(0.75)	1.59	(1.33)	3.75
TEFQX	1.53	(0.17)	0.00	(0.02)	0.00	0.00	2.94	(4.32)	8.44
MTCCX	1.53	0.52	0.31	1.25	0.99	(1.83)	2.42	(2.68)	36.47

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