Real Estate Correlations

DPRDX Fund

USD 13.56 0.78 0.13%

The current 90-days correlation between Real Estate and Extended Market Index is 0.44 (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

Modest diversification

The correlation between The Real Estate and DJI is 0.29 (i.e., Modest 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. 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 discontinued.

Moving together with Real Mutual Fund

0.79	OCFIX	Optimum Fixed Income	Pair Corr
0.8	DMO	Western Asset Mortgage	Pair Corr
0.62	DLTZX	Delaware Limited Term	Pair Corr
0.7	DMHIX	Delaware Minnesota High	Pair Corr
0.7	DMNIX	Delaware Tax Free	Pair Corr
0.8	DPFFX	Delaware Diversified	Pair Corr
0.74	DPRSX	Delaware Reit	Pair Corr
0.73	DPRRX	Delaware Reit	Pair Corr
0.81	DPRFX	Delaware Diversified	Pair Corr
0.8	DPZRX	Delaware Diversified	Pair Corr
0.77	DTFIX	Delaware Tax Free	Pair Corr
0.73	DTIDX	Delaware Tax Free	Pair Corr
0.77	DTNIX	Delaware Tax Free	Pair Corr
0.76	DTPIX	Delaware Tax Free	Pair Corr
0.74	DCOIX	Delaware Tax Free	Pair Corr
0.82	DCTIX	Delaware Tax Free	Pair Corr

Moving against Real Mutual Fund

0.54	OILGX	Optimum Large Cap	Pair Corr
0.38	DDFFX	Delaware Floating Rate	Pair Corr

Related Correlations Analysis

	APDOX	GIRMX	ABPYX	DBELX	BOGSX	PIEFX	USMIX
APDOX		0.98	-0.65	0.98	0.66	0.95	0.82	APDOX
GIRMX	0.98		-0.53	0.97	0.75	0.99	0.82	GIRMX
ABPYX	-0.65	-0.53		-0.58	-0.06	-0.48	-0.48	ABPYX
DBELX	0.98	0.97	-0.58		0.67	0.95	0.78	DBELX
BOGSX	0.66	0.75	-0.06	0.67		0.8	0.8	BOGSX
PIEFX	0.95	0.99	-0.48	0.95	0.8		0.82	PIEFX
USMIX	0.82	0.82	-0.48	0.78	0.8	0.82		USMIX
	APDOX	GIRMX	ABPYX	DBELX	BOGSX	PIEFX	USMIX

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

PIEFX	+ 0.99	GIRMX
GIRMX	+ 0.98	APDOX
DBELX	+ 0.98	APDOX
DBELX	+ 0.97	GIRMX
PIEFX	+ 0.95	APDOX
PIEFX	+ 0.95	DBELX

High negative correlations

ABPYX	- 0.65	APDOX
DBELX	- 0.58	ABPYX
ABPYX	- 0.53	GIRMX
USMIX	- 0.48	ABPYX
PIEFX	- 0.48	ABPYX
BOGSX	- 0.06	ABPYX

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
APDOX	0.13	0.05	0.06	0.86	0.00	(0.16)	0.28	(0.27)	1.00
GIRMX	0.79	0.13	0.08	0.19	1.16	(0.82)	1.87	(1.28)	8.60
ABPYX	0.36	(0.06)	0.00	(0.09)	0.00	0.00	0.63	(0.86)	2.36
DBELX	0.27	0.03	0.01	0.20	0.41	(0.31)	0.62	(0.51)	2.83
BOGSX	1.08	0.07	0.05	0.09	1.39	(1.07)	2.33	(2.33)	5.97
PIEFX	0.90	0.11	0.08	0.17	1.17	(0.99)	2.00	(2.09)	7.59
USMIX	0.77	0.13	0.14	0.17	0.68	(0.91)	1.53	(1.49)	5.68

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