Delaware Small Correlations

DVLRX Fund

USD 58.05 0.58 0.99%

The current 90-days correlation between Delaware Small Cap and Perkins Mid Cap is 0.24 (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

Weak diversification

The correlation between Delaware Small Cap and DJI is 0.37 (i.e., Weak 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 population.

Moving together with Delaware Mutual Fund

0.67	OCIEX	Optimum International	Pair Corr
0.79	DLRHX	Delaware Healthcare	Pair Corr
0.73	DLTZX	Delaware Limited Term	Pair Corr
0.69	OIIEX	Optimum International	Pair Corr
0.94	OILVX	Optimum Large Cap	Pair Corr
0.67	OISGX	Optimum Small Mid	Pair Corr
0.75	DPRSX	Delaware Reit	Pair Corr
0.65	DULTX	Delaware Investments	Pair Corr
0.98	DDVIX	Delaware Value	Pair Corr
0.63	DEMRX	Delaware Emerging Markets Steady Growth	Pair Corr
0.63	DEMIX	Delaware Emerging Markets Steady Growth	Pair Corr
0.63	DEMZX	Delaware Emerging Markets Steady Growth	Pair Corr
0.77	VSIIX	Vanguard Small Cap	Pair Corr
0.77	VISVX	Vanguard Small Cap	Pair Corr
0.81	DFSVX	Us Small Cap	Pair Corr
0.82	DFFVX	Us Targeted Value	Pair Corr
0.9	UBVCX	Undiscovered Managers	Pair Corr
0.9	UBVAX	Undiscovered Managers	Pair Corr
0.9	UBVSX	Undiscovered Managers	Pair Corr
0.88	VSMCX	Invesco Small Cap	Pair Corr
0.64	ABALX	American Balanced	Pair Corr
0.71	TBLWX	T Rowe Price	Pair Corr
0.81	GRSPX	Greenspring Fund Retail	Pair Corr
0.85	PRDMX	T Rowe Price Potential Growth	Pair Corr
0.8	MVCCX	Mfs Mid Cap	Pair Corr

Moving against Delaware Mutual Fund

0.81	DMO	Western Asset Mortgage	Pair Corr
0.67	UIPIX	Ultrashort Mid Cap	Pair Corr
0.43	TCTGX	Transamerica Cleartrack	Pair Corr
0.31	PDI	Pimco Dynamic Income	Pair Corr

Related Correlations Analysis

	JMVAX	JDPRX	JDPNX	JCNRX	JMVCX	CIPIX	ESPRX	JDIAX	JCNIX	JDIRX
JMVAX		1.0	1.0	-0.12	1.0	0.79	0.84	0.85	0.81	0.85	JMVAX
JDPRX	1.0		1.0	-0.11	1.0	0.79	0.84	0.85	0.81	0.85	JDPRX
JDPNX	1.0	1.0		-0.12	1.0	0.79	0.84	0.85	0.81	0.85	JDPNX
JCNRX	-0.12	-0.11	-0.12		-0.11	-0.05	0.22	-0.04	0.37	-0.04	JCNRX
JMVCX	1.0	1.0	1.0	-0.11		0.79	0.84	0.85	0.81	0.85	JMVCX
CIPIX	0.79	0.79	0.79	-0.05	0.79		0.64	0.73	0.65	0.72	CIPIX
ESPRX	0.84	0.84	0.84	0.22	0.84	0.64		0.78	0.81	0.78	ESPRX
JDIAX	0.85	0.85	0.85	-0.04	0.85	0.73	0.78		0.72	1.0	JDIAX
JCNIX	0.81	0.81	0.81	0.37	0.81	0.65	0.81	0.72		0.72	JCNIX
JDIRX	0.85	0.85	0.85	-0.04	0.85	0.72	0.78	1.0	0.72		JDIRX
	JMVAX	JDPRX	JDPNX	JCNRX	JMVCX	CIPIX	ESPRX	JDIAX	JCNIX	JDIRX

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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

JDPRX	+ 1.0	JMVAX
JDPNX	+ 1.0	JMVAX
JMVCX	+ 1.0	JMVAX
JDPNX	+ 1.0	JDPRX
JMVCX	+ 1.0	JDPRX
JMVCX	+ 1.0	JDPNX

High negative correlations

JCNRX	- 0.12	JDPNX
JCNRX	- 0.12	JMVAX
JMVCX	- 0.11	JCNRX
JCNRX	- 0.11	JDPRX
CIPIX	- 0.05	JCNRX
JDIRX	- 0.04	JCNRX

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	0.15	0.15	0.25	0.58	(0.87)	1.52	(1.15)	10.41
JDPRX	0.74	0.14	0.15	0.24	0.55	(0.85)	1.52	(1.18)	10.42
JDPNX	0.75	0.15	0.15	0.25	0.55	(0.86)	1.54	(1.12)	10.43
JCNRX	0.92	(0.12)	0.00	(0.06)	0.00	0.00	1.77	(2.06)	5.64
JMVCX	0.74	0.15	0.14	0.25	0.52	(0.84)	1.47	(1.16)	10.65
CIPIX	0.98	0.29	0.31	0.71	0.46	(1.29)	1.32	(1.20)	20.89
ESPRX	0.72	(0.03)	(0.03)	0.02	0.90	(0.80)	1.68	(1.50)	4.08
JDIAX	0.47	0.04	0.03	0.11	0.54	(0.54)	0.97	(0.86)	3.09
JCNIX	1.11	0.06	0.05	0.09	1.11	(1.34)	1.80	(2.08)	14.00
JDIRX	0.47	0.04	0.03	0.11	0.53	(0.55)	0.97	(0.84)	3.07

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