Davis Financial Correlations

RPFGX Fund

USD 66.52 0.59 0.89%

The correlation of Davis Financial 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.

Davis Financial Correlation With Market

Modest diversification

The correlation between Davis Financial Fund and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis Financial Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Davis Financial Fund. 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 price.

Moving together with Davis Mutual Fund

0.76	RPFCX	Davis Appreciation Income	Pair Corr
0.64	RPEAX	Davis Opportunity	Pair Corr
0.64	DNVYX	Davis New York	Pair Corr
0.64	NYVCX	Davis New York	Pair Corr
0.67	NYVRX	Davis New York	Pair Corr
0.67	NYVTX	Davis New York	Pair Corr
0.76	DCSYX	Davis Appreciation Income	Pair Corr
0.92	DVFYX	Davis Financial	Pair Corr
0.92	DFFCX	Davis Financial	Pair Corr
0.65	DGOYX	Davis Opportunity	Pair Corr
0.89	VFAIX	Vanguard Financials Index	Pair Corr
0.9	FRBCX	Regional Bank	Pair Corr
0.9	JRGRX	Regional Bank	Pair Corr
0.93	PRISX	T Rowe Price	Pair Corr
0.85	FIDCX	Financial Industries	Pair Corr
0.87	JFDRX	Financial Industries	Pair Corr
0.93	TFIFX	T Rowe Price	Pair Corr
0.63	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.63	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.9	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.86	KNPYX	Kinetics Paradigm Steady Growth	Pair Corr
0.63	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.86	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.96	FLAPX	Fidelity Flex Mid	Pair Corr

Related Correlations Analysis

	ICAXX	USGFX	PRINX	RYAQX	ACASX	TIMTX	AMHIX	JGIFX
ICAXX		0.0	0.0	0.0	0.0	0.0	0.0	0.0	ICAXX
USGFX	0.0		0.62	-0.83	0.9	0.69	0.74	0.98	USGFX
PRINX	0.0	0.62		-0.54	0.65	0.99	0.98	0.68	PRINX
RYAQX	0.0	-0.83	-0.54		-0.91	-0.56	-0.62	-0.87	RYAQX
ACASX	0.0	0.9	0.65	-0.91		0.71	0.76	0.92	ACASX
TIMTX	0.0	0.69	0.99	-0.56	0.71		0.99	0.74	TIMTX
AMHIX	0.0	0.74	0.98	-0.62	0.76	0.99		0.78	AMHIX
JGIFX	0.0	0.98	0.68	-0.87	0.92	0.74	0.78		JGIFX
	ICAXX	USGFX	PRINX	RYAQX	ACASX	TIMTX	AMHIX	JGIFX

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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

TIMTX	+ 0.99	PRINX
AMHIX	+ 0.99	TIMTX
JGIFX	+ 0.98	USGFX
AMHIX	+ 0.98	PRINX
JGIFX	+ 0.92	ACASX
ACASX	+ 0.9	USGFX

High negative correlations

ACASX	- 0.91	RYAQX
JGIFX	- 0.87	RYAQX
RYAQX	- 0.83	USGFX
AMHIX	- 0.62	RYAQX
TIMTX	- 0.56	RYAQX
RYAQX	- 0.54	PRINX

Risk-Adjusted Indicators

There is a big difference between Davis Mutual Fund performing well and Davis Financial 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 Davis Financial'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
ICAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
USGFX	0.24	(0.03)	0.00	(0.45)	0.00	0.00	0.59	(0.59)	1.62
PRINX	0.22	(0.02)	0.00	(0.40)	0.00	0.00	0.45	(0.53)	1.60
RYAQX	0.67	0.13	0.15	(0.86)	0.67	(0.76)	1.52	(1.32)	5.22
ACASX	0.28	(0.05)	0.00	(1.98)	0.00	0.00	0.66	(0.79)	1.87
TIMTX	0.20	(0.02)	0.00	(0.48)	0.00	0.00	0.38	(0.47)	1.50
AMHIX	0.21	(0.03)	0.00	(0.46)	0.00	0.00	0.40	(0.52)	1.57
JGIFX	0.27	(0.04)	0.00	(0.49)	0.00	0.00	0.64	(0.64)	1.43

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