Delaware Small Correlations

DVLRX Fund

USD 61.33 0.92 1.48%

The current 90-days correlation between Delaware Small Cap and Janus Overseas Fund is 0.25 (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 0.86 (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 various price indices.

Moving together with Delaware Mutual Fund

0.91	OASGX	Optimum Small Mid	Pair Corr
0.96	OASVX	Optimum Small Mid	Pair Corr
0.86	OCIEX	Optimum International	Pair Corr
0.97	OCLVX	Optimum Large Cap	Pair Corr
0.86	OCLGX	Optimum Large Cap	Pair Corr
0.96	OCSVX	Optimum Small Mid	Pair Corr
0.85	DLHIX	Delaware Healthcare	Pair Corr
0.85	DLRHX	Delaware Healthcare	Pair Corr
0.84	DLTZX	Delaware Limited Term	Pair Corr
0.86	DLTRX	Delaware Limited Term	Pair Corr
0.79	DMHIX	Delaware Minnesota High	Pair Corr
0.73	DMNIX	Delaware Tax Free	Pair Corr
0.87	OIIEX	Optimum International	Pair Corr
0.97	OILVX	Optimum Large Cap	Pair Corr
0.82	OISGX	Optimum Small Mid	Pair Corr
0.91	OISVX	Optimum Small Mid	Pair Corr
0.86	DPRSX	Delaware Reit	Pair Corr
0.86	DPRRX	Delaware Reit	Pair Corr
0.86	DPRDX	Real Estate	Pair Corr
0.72	FICHX	First Investors Select	Pair Corr
0.91	FICGX	First Investors Select	Pair Corr
1.0	FIZRX	Delaware Opportunity	Pair Corr
0.98	DCCIX	Delaware Small Cap	Pair Corr
0.98	DCCRX	Delaware Small Cap	Pair Corr
0.88	DUGRX	Delaware Strategic Income	Pair Corr
0.85	DULTX	Delaware Investments	Pair Corr
0.98	DCZRX	Delaware Small Cap	Pair Corr
0.99	DDDRX	Delaware Wealth Builder	Pair Corr
0.86	DDFLX	Delaware Floating Rate	Pair Corr
0.86	DDFFX	Delaware Floating Rate	Pair Corr

Moving against Delaware Mutual Fund

0.87	DMO	Western Asset Mortgage	Pair Corr
0.31	DEERX	Delaware Extended	Pair Corr

Related Correlations Analysis

	JMVAX	JDPRX	JDPNX	JCNRX	JMVCX	CIPIX	ESPRX	JDIAX	JCNIX	JDIRX
JMVAX		1.0	1.0	0.27	1.0	0.89	0.92	0.9	0.89	0.9	JMVAX
JDPRX	1.0		1.0	0.27	1.0	0.89	0.92	0.9	0.9	0.9	JDPRX
JDPNX	1.0	1.0		0.27	1.0	0.89	0.92	0.9	0.89	0.9	JDPNX
JCNRX	0.27	0.27	0.27		0.27	0.28	0.43	0.36	0.55	0.36	JCNRX
JMVCX	1.0	1.0	1.0	0.27		0.89	0.92	0.9	0.89	0.9	JMVCX
CIPIX	0.89	0.89	0.89	0.28	0.89		0.81	0.86	0.79	0.86	CIPIX
ESPRX	0.92	0.92	0.92	0.43	0.92	0.81		0.9	0.86	0.9	ESPRX
JDIAX	0.9	0.9	0.9	0.36	0.9	0.86	0.9		0.81	1.0	JDIAX
JCNIX	0.89	0.9	0.89	0.55	0.89	0.79	0.86	0.81		0.81	JCNIX
JDIRX	0.9	0.9	0.9	0.36	0.9	0.86	0.9	1.0	0.81		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	0.75	0.20	0.20	0.35	0.38	(0.87)	1.80	(1.15)	10.88
JDPRX	0.75	0.19	0.19	0.34	0.38	(0.84)	1.65	(1.18)	10.83
JDPNX	0.76	0.20	0.21	0.36	0.36	(0.87)	1.68	(1.12)	10.84
JCNRX	0.94	(0.11)	0.00	(0.03)	0.00	0.00	1.77	(2.06)	4.61
JMVCX	0.75	0.20	0.20	0.35	0.38	(0.84)	1.69	(1.16)	11.00
CIPIX	1.01	0.29	0.32	0.66	0.38	(1.37)	1.69	(1.20)	22.56
ESPRX	0.76	0.05	0.06	0.11	0.69	(0.89)	2.54	(1.34)	4.92
JDIAX	0.47	0.09	0.12	0.22	0.27	(0.59)	1.09	(0.86)	2.61
JCNIX	1.13	0.07	0.07	0.13	1.08	(1.32)	1.80	(2.08)	14.44
JDIRX	0.47	0.09	0.12	0.22	0.27	(0.60)	1.10	(0.84)	2.59

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