Davenport Value Correlations

DVIPX Fund

USD 21.15 0.09 0.42%

The current 90-days correlation between Davenport Value Income and Jhancock Disciplined Value is 0.44 (i.e., Very weak diversification). The correlation of Davenport Value 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.

Davenport Value Correlation With Market

Almost no diversification

The correlation between Davenport Value Income and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davenport Value Income 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 Davenport Value Income. 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 employment.

Moving together with Davenport Mutual Fund

0.8	DSCPX	Davenport Small Cap	Pair Corr
1.0	DBALX	Davenport Balanced Income	Pair Corr
0.95	DBUYX	Davenport Insider Buying	Pair Corr
0.87	DEOPX	Davenport Equity Opp	Pair Corr
0.96	VVIAX	Vanguard Value Index	Pair Corr
0.91	AWSHX	Washington Mutual	Pair Corr
0.9	WSHCX	Washington Mutual	Pair Corr
0.9	WSHFX	Washington Mutual	Pair Corr
0.91	FWWMX	American Funds Washington	Pair Corr
0.67	FWMMX	American Funds Washington	Pair Corr
0.67	DODGX	Dodge Stock Fund	Pair Corr
0.93	AMFFX	American Mutual	Pair Corr
0.89	OPGSX	Oppenheimer Gold Spec	Pair Corr
0.89	UJPIX	Ultrajapan Profund	Pair Corr
0.9	UNWPX	World Precious Minerals	Pair Corr
0.66	FSAGX	Gold Portfolio Gold	Pair Corr
0.85	FKRCX	Franklin Gold Precious Steady Growth	Pair Corr
0.89	EKWAX	Wells Fargo Advantage Steady Growth	Pair Corr
0.9	GOLDX	Gabelli Gold	Pair Corr
0.89	PSPFX	Global Resources	Pair Corr
0.93	VIOPX	Valic Company I	Pair Corr
0.83	SEEKX	Steward Large Cap	Pair Corr
0.67	RNEBX	New World Fund	Pair Corr
0.88	PSEPX	1789 Growth And	Pair Corr
0.9	EMLIX	Mfs Emerging Markets	Pair Corr
0.89	FEGIX	First Eagle Gold	Pair Corr
0.94	CVCFX	Pioneer Disciplined Value	Pair Corr
0.88	POSKX	Primecap Odyssey Stock	Pair Corr
0.89	CDGCX	Crafword Dividend Growth	Pair Corr
0.9	NFFFX	New World Fund	Pair Corr
0.63	PBDCX	Investment Grade Porate	Pair Corr

Moving against Davenport Mutual Fund

0.33

AMRMX

American Mutual

Pair Corr

Related Correlations Analysis

	CBSYX	PLAAX	JAAIX	SEGIX	LMUSX	PLHTX	JDVNX
CBSYX		0.85	0.89	0.89	0.92	0.95	0.95	CBSYX
PLAAX	0.85		0.66	0.82	0.91	0.85	0.84	PLAAX
JAAIX	0.89	0.66		0.84	0.74	0.9	0.91	JAAIX
SEGIX	0.89	0.82	0.84		0.82	0.92	0.94	SEGIX
LMUSX	0.92	0.91	0.74	0.82		0.9	0.88	LMUSX
PLHTX	0.95	0.85	0.9	0.92	0.9		0.99	PLHTX
JDVNX	0.95	0.84	0.91	0.94	0.88	0.99		JDVNX
	CBSYX	PLAAX	JAAIX	SEGIX	LMUSX	PLHTX	JDVNX

Risk-Adjusted Indicators

There is a big difference between Davenport Mutual Fund performing well and Davenport Value 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 Davenport Value'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
CBSYX	0.45	0.07	0.10	0.17	0.37	(0.53)	0.82	(0.88)	5.72
PLAAX	1.28	0.41	0.32	(0.81)	0.65	(1.65)	1.43	(1.72)	37.01
JAAIX	0.21	0.03	0.00	0.20	0.05	(0.24)	0.36	(0.36)	0.94
SEGIX	0.86	0.28	0.41	0.45	0.00	(1.17)	1.27	(1.07)	20.56
LMUSX	0.62	0.02	0.01	0.07	0.78	(0.63)	1.14	(1.57)	4.94
PLHTX	0.58	0.09	0.07	3.39	0.63	(0.63)	1.21	(1.36)	5.21
JDVNX	0.75	0.21	0.18	5.81	0.61	(0.86)	1.50	(1.45)	8.76

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