World Core Correlations

DREIX Fund

USD 24.48 0.20 0.82%

The current 90-days correlation between World Core Equity and Small Pany Growth is 0.71 (i.e., Poor diversification). The correlation of World Core 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.

World Core Correlation With Market

Very poor diversification

The correlation between World Core Equity and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding World Core Equity 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 World Core Equity. 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 World Mutual Fund

0.88	DRIIX	Dimensional 2045 Target	Pair Corr
0.96	DRIHX	Dimensional 2040 Target	Pair Corr
0.84	DRIGX	Dimensional 2035 Target	Pair Corr
0.69	DRIWX	Dimensional 2030 Target	Pair Corr
0.99	DRILX	Dimensional 2060 Target	Pair Corr
0.99	DRIKX	Dimensional 2055 Target	Pair Corr
0.99	DRIJX	Dimensional 2050 Target	Pair Corr
0.63	DAABX	Dfa Sustainability	Pair Corr
0.7	DSCGX	Dfa Small	Pair Corr
0.99	DSHGX	Dfa Selectively Hedged	Pair Corr
0.88	DTDRX	Dimensional 2065 Target	Pair Corr
0.87	DURPX	Us High Relative	Pair Corr
0.88	DUSQX	Us Lg Cap	Pair Corr
0.95	DUSLX	Dfa Large	Pair Corr

Related Correlations Analysis

	MSSGX	SECAX	OWSMX	HSCVX	KSCYX	DFUKX	JAADX
MSSGX		0.81	0.67	0.88	0.11	0.04	-0.45	MSSGX
SECAX	0.81		0.87	0.92	0.09	0.24	-0.34	SECAX
OWSMX	0.67	0.87		0.84	0.28	0.52	0.11	OWSMX
HSCVX	0.88	0.92	0.84		0.21	0.13	-0.35	HSCVX
KSCYX	0.11	0.09	0.28	0.21		-0.14	0.35	KSCYX
DFUKX	0.04	0.24	0.52	0.13	-0.14		0.56	DFUKX
JAADX	-0.45	-0.34	0.11	-0.35	0.35	0.56		JAADX
	MSSGX	SECAX	OWSMX	HSCVX	KSCYX	DFUKX	JAADX

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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

HSCVX	+ 0.92	SECAX
HSCVX	+ 0.88	MSSGX
OWSMX	+ 0.87	SECAX
HSCVX	+ 0.84	OWSMX
SECAX	+ 0.81	MSSGX
OWSMX	+ 0.67	MSSGX

High negative correlations

JAADX	- 0.45	MSSGX
JAADX	- 0.35	HSCVX
JAADX	- 0.34	SECAX
DFUKX	- 0.14	KSCYX

Risk-Adjusted Indicators

There is a big difference between World Mutual Fund performing well and World Core 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 World Core'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
MSSGX	1.72	(0.10)	0.00	(0.18)	0.00	0.00	3.70	(3.91)	10.50
SECAX	1.05	(0.22)	0.00	(0.32)	0.00	0.00	1.45	(2.57)	11.97
OWSMX	0.67	(0.05)	0.00	(0.18)	0.00	0.00	1.19	(1.37)	3.89
HSCVX	0.79	(0.10)	0.00	(0.22)	0.00	0.00	1.42	(1.78)	3.38
KSCYX	1.57	0.08	0.00	(0.01)	0.00	0.00	3.29	(4.40)	9.10
DFUKX	0.80	(0.06)	0.00	0.18	0.00	0.00	1.96	(2.04)	6.05
JAADX	0.64	0.13	0.20	0.13	0.72	(0.69)	1.46	(1.16)	4.96

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