Davenport Value Correlations

DVIPX Fund  USD 19.32  0.04  0.21%   
The current 90-days correlation between Davenport Value Income and Sprott Gold Equity is 0.16 (i.e., Average 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

DavenportDowDiversified AwayDavenportDowDiversified Away100%

Very weak diversification

The correlation between Davenport Value Income and DJI is 0.47 (i.e., Very weak 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 american community survey.

Moving together with Davenport Mutual Fund

  0.77DSCPX Davenport Small CapPairCorr
  0.84DAVPX Davenport E FundPairCorr
  0.97DBALX Davenport Balanced IncomePairCorr
  0.71DBUYX Davenport Insider BuyingPairCorr
  0.77DEOPX Davenport Equity OppPairCorr
  0.82VVIAX Vanguard Value IndexPairCorr
  0.69DOXGX Dodge Cox StockPairCorr
  0.88AFMFX American MutualPairCorr
  0.88FFMMX American Funds AmericanPairCorr
  0.88FFFMX American Funds AmericanPairCorr
  0.88AMRMX American MutualPairCorr
  0.84AMFFX American MutualPairCorr
  0.89AMFCX American MutualPairCorr
  0.91DODGX Dodge Stock FundPairCorr
  0.83VIVAX Vanguard Value IndexPairCorr

Moving against Davenport Mutual Fund

  0.46MWUIX Metropolitan West UltraPairCorr
  0.34TBSIX T Rowe PricePairCorr
  0.7RYJCX Inverse Government LongPairCorr
  0.47PSDQX Putnam Short DurationPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.