Real Estate Correlations

DPRDX Fund

USD 12.19 0.09 0.74%

The current 90-days correlation between Real Estate and Optimum Small Mid Cap is 0.5 (i.e., Very weak diversification). The correlation of Real Estate 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.

Real Estate Correlation With Market

Very weak diversification

The correlation between The Real Estate and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Real Estate 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 The Real Estate. 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 unemployment.

Moving together with Real Mutual Fund

0.88	OASVX	Optimum Small Mid	Pair Corr
0.95	IMAAX	Ivy Apollo Multi	Pair Corr
0.78	OCFIX	Optimum Fixed Income	Pair Corr
0.92	WASAX	Ivy Asset Strategy	Pair Corr
0.76	WSGAX	Ivy Small Cap	Pair Corr
0.91	OCLVX	Optimum Large Cap	Pair Corr
0.81	OCLGX	Optimum Large Cap	Pair Corr
0.89	OCSVX	Optimum Small Mid	Pair Corr
0.75	WSTAX	Ivy Science And	Pair Corr
0.61	CXHYX	Delaware National High	Pair Corr
0.9	WCEAX	Ivy E Equity	Pair Corr
0.76	DLHIX	Delaware Healthcare	Pair Corr
0.76	DLHCX	Delaware Healthcare	Pair Corr
0.76	DLHAX	Delaware Healthcare	Pair Corr
0.77	DLRHX	Delaware Healthcare	Pair Corr
0.66	DMTFX	Delaware Tax Free	Pair Corr
0.91	IRSAX	Ivy Advantus Real	Pair Corr
0.76	OIFIX	Optimum Fixed Income	Pair Corr
0.71	OILGX	Optimum Large Cap	Pair Corr
0.89	OILVX	Optimum Large Cap	Pair Corr
0.64	DPCFX	Delaware Diversified	Pair Corr
0.71	DPDFX	Delaware Diversified	Pair Corr
0.71	DPFFX	Delaware Diversified	Pair Corr

Moving against Real Mutual Fund

0.4	DLTRX	Delaware Limited Term	Pair Corr
0.31	DLTZX	Delaware Limited Term	Pair Corr

Related Correlations Analysis

	OASGX	OASVX	FICHX	FICGX	IMAAX	OCFIX	WASAX	WSGAX	OCIEX
OASGX		0.5	0.93	0.91	0.32	0.54	0.41	0.75	0.49	OASGX
OASVX	0.5		0.65	0.69	0.83	0.72	0.9	0.9	0.32	OASVX
FICHX	0.93	0.65		1.0	0.43	0.61	0.54	0.82	0.45	FICHX
FICGX	0.91	0.69	1.0		0.47	0.63	0.57	0.84	0.45	FICGX
IMAAX	0.32	0.83	0.43	0.47		0.86	0.93	0.73	0.62	IMAAX
OCFIX	0.54	0.72	0.61	0.63	0.86		0.82	0.77	0.71	OCFIX
WASAX	0.41	0.9	0.54	0.57	0.93	0.82		0.85	0.54	WASAX
WSGAX	0.75	0.9	0.82	0.84	0.73	0.77	0.85		0.39	WSGAX
OCIEX	0.49	0.32	0.45	0.45	0.62	0.71	0.54	0.39		OCIEX
	OASGX	OASVX	FICHX	FICGX	IMAAX	OCFIX	WASAX	WSGAX	OCIEX

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Risk-Adjusted Indicators

There is a big difference between Real Mutual Fund performing well and Real Estate 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 Real Estate'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
OASGX	0.91	0.07	0.02	0.22	1.13	(0.96)	1.81	(1.64)	8.43
OASVX	0.85	(0.11)	0.00	(0.10)	0.00	0.00	1.51	(1.60)	11.93
FICHX	0.84	0.04	0.00	0.18	1.44	(0.77)	1.43	(1.78)	7.86
FICGX	0.85	0.04	(0.01)	0.16	1.53	(0.77)	1.41	(1.82)	8.13
IMAAX	0.37	(0.07)	0.00	(0.22)	0.00	0.00	0.64	(0.86)	2.73
OCFIX	0.24	(0.02)	0.00	(0.15)	0.00	0.00	0.47	(0.58)	1.53
WASAX	0.53	(0.08)	0.00	(0.19)	0.00	0.00	0.80	(1.10)	6.94
WSGAX	1.07	(0.04)	(0.05)	0.01	1.77	(0.97)	1.76	(2.18)	11.19
OCIEX	0.54	0.00	(0.08)	0.10	0.72	(0.55)	1.02	(1.05)	3.59

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