Delaware Small Correlations

DVLRX Fund

USD 61.44 0.03 0.05%

The current 90-days correlation between Delaware Small Cap and Janus Overseas Fund is 0.22 (i.e., Modest diversification). The correlation of Delaware Small 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.

Delaware Small Correlation With Market

Very poor diversification

The correlation between Delaware Small Cap and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Delaware Small Cap 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 Delaware Small Cap. 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 main economic indicators.

Moving together with Delaware Mutual Fund

0.97	OCLVX	Optimum Large Cap	Pair Corr
0.96	OCSVX	Optimum Small Mid	Pair Corr
0.86	DLRHX	Delaware Healthcare	Pair Corr
0.84	DLTZX	Delaware Limited Term	Pair Corr
0.8	DMHIX	Delaware Minnesota High	Pair Corr
0.97	OILVX	Optimum Large Cap	Pair Corr
0.91	OISVX	Optimum Small Mid	Pair Corr
0.73	FICHX	First Investors Select	Pair Corr
0.91	FICGX	First Investors Select	Pair Corr
0.86	DULTX	Delaware Investments	Pair Corr
1.0	DEVIX	Delaware Small Cap	Pair Corr
0.91	VSIIX	Vanguard Small Cap	Pair Corr
0.9	VISVX	Vanguard Small Cap	Pair Corr
0.9	DFSVX	Us Small Cap	Pair Corr
0.91	DFFVX	Us Targeted Value	Pair Corr
0.96	UBVCX	Undiscovered Managers	Pair Corr
0.96	UBVAX	Undiscovered Managers	Pair Corr
0.96	UBVSX	Undiscovered Managers	Pair Corr
0.94	VSMCX	Invesco Small Cap	Pair Corr
0.77	KF	Korea Closed	Pair Corr
0.9	OPGSX	Oppenheimer Gold Spec	Pair Corr
0.9	FSAGX	Gold Portfolio Gold	Pair Corr
0.9	GOLDX	Gabelli Gold Steady Growth	Pair Corr
0.91	EKWAX	Wells Fargo Advantage	Pair Corr
0.87	FKRCX	Franklin Gold Precious Steady Growth	Pair Corr
0.91	SGGDX	First Eagle Gold Steady Growth	Pair Corr
0.92	UNWPX	World Precious Minerals	Pair Corr
0.89	USAGX	Precious Metals And	Pair Corr
0.85	DMFFX	Destinations Municipal	Pair Corr
0.71	RUSTX	Us Strategic Equity	Pair Corr
0.97	YACKX	Amg Yacktman	Pair Corr
0.89	FLBDX	Total Return Bond	Pair Corr
0.88	IENRX	Ivy Energy Fund	Pair Corr
0.79	VTEAX	Vanguard Tax Exempt	Pair Corr
0.89	PXSIX	Pax Small Cap	Pair Corr
0.9	VMNVX	Vanguard Global Minimum	Pair Corr
0.61	AHYRX	High Yield Fund	Pair Corr

Moving against Delaware Mutual Fund

0.87

DMO

Western Asset Mortgage

Pair Corr

Related Correlations Analysis

	JMVAX	JDPRX	JDPNX	JCNRX	JMVCX	CIPIX	ESPRX	JDIAX	JCNIX	JDIRX
JMVAX		1.0	1.0	0.29	1.0	0.89	0.93	0.89	0.89	0.89	JMVAX
JDPRX	1.0		1.0	0.29	1.0	0.89	0.92	0.88	0.89	0.89	JDPRX
JDPNX	1.0	1.0		0.29	1.0	0.9	0.92	0.89	0.89	0.89	JDPNX
JCNRX	0.29	0.29	0.29		0.29	0.3	0.44	0.32	0.57	0.35	JCNRX
JMVCX	1.0	1.0	1.0	0.29		0.89	0.92	0.88	0.89	0.89	JMVCX
CIPIX	0.89	0.89	0.9	0.3	0.89		0.82	0.85	0.8	0.85	CIPIX
ESPRX	0.93	0.92	0.92	0.44	0.92	0.82		0.87	0.86	0.9	ESPRX
JDIAX	0.89	0.88	0.89	0.32	0.88	0.85	0.87		0.78	0.98	JDIAX
JCNIX	0.89	0.89	0.89	0.57	0.89	0.8	0.86	0.78		0.78	JCNIX
JDIRX	0.89	0.89	0.89	0.35	0.89	0.85	0.9	0.98	0.78		JDIRX
	JMVAX	JDPRX	JDPNX	JCNRX	JMVCX	CIPIX	ESPRX	JDIAX	JCNIX	JDIRX

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Risk-Adjusted Indicators

There is a big difference between Delaware Mutual Fund performing well and Delaware Small 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 Delaware Small'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
JMVAX	0.74	0.20	0.21	0.37	0.34	(0.86)	1.80	(1.15)	10.88
JDPRX	0.74	0.20	0.20	0.37	0.34	(0.84)	1.65	(1.18)	10.83
JDPNX	0.74	0.21	0.22	0.38	0.33	(0.86)	1.68	(1.12)	10.84
JCNRX	0.93	(0.11)	0.00	(0.03)	0.00	0.00	1.77	(2.06)	4.61
JMVCX	0.74	0.20	0.21	0.38	0.33	(0.84)	1.69	(1.16)	11.00
CIPIX	1.00	0.28	0.31	0.65	0.39	(1.34)	1.69	(1.20)	22.56
ESPRX	0.75	0.04	0.05	0.10	0.70	(0.87)	2.54	(1.34)	4.92
JDIAX	0.47	0.11	0.12	0.63	0.27	(0.59)	1.09	(0.86)	2.61
JCNIX	1.12	0.07	0.07	0.13	1.06	(1.31)	1.80	(2.08)	14.44
JDIRX	0.48	0.14	0.21	0.35	0.00	(0.64)	1.19	(0.83)	2.59

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