Delaware Value Correlations

Mutual Funds USA . 
Fund . Delaware Value Fund
DDVAX Fund  USD 14.04  0.14  1.01%   
The correlation of Delaware 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.

Delaware Value Correlation With Market

Modest diversification

The correlation between Delaware Value Fund and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Delaware Value Fund 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 Value 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 nation.

Moving together with Delaware Mutual Fund

  0.64OASGX Optimum Small MidPairCorr
  0.92OASVX Optimum Small MidPairCorr
  0.76IMAAX Ivy Apollo MultiPairCorr
  0.85WASAX Ivy Asset StrategyPairCorr
  0.9WSGAX Ivy Small CapPairCorr
  0.84OCLVX Optimum Large CapPairCorr
  0.88OCLGX Optimum Large CapPairCorr
  0.65OCSGX Optimum Small MidPairCorr
  0.92OCSVX Optimum Small MidPairCorr
  0.61CXHYX Delaware National HighPairCorr
  0.94WCEAX Ivy E EquityPairCorr
  0.72FTNYX Delaware Tax FreePairCorr
  0.72FTORX First Investors TaxPairCorr
  0.7FTOTX First Investors TaxPairCorr
  0.66DLHIX Delaware HealthcarePairCorr
  0.67DLHCX Delaware HealthcarePairCorr
  0.67DLHAX Delaware HealthcarePairCorr
  0.67DLRHX Delaware HealthcarePairCorr
  0.71DMHIX Delaware Minnesota HighPairCorr
  0.78DMOCX Delaware Tax FreePairCorr
  0.74DMNIX Delaware Tax FreePairCorr
  0.82DMTFX Delaware Tax FreePairCorr
  0.7DMUSX Delaware Tax FreePairCorr
  0.78VAZIX Delaware Tax FreePairCorr
  0.96IRSAX Ivy Advantus RealPairCorr
  0.83OILVX Optimum Large CapPairCorr
  0.63VCTFX Delaware Tax FreePairCorr

Moving against Delaware Mutual Fund

  0.36DLTZX Delaware Limited TermPairCorr
  0.32DLTRX Delaware Limited TermPairCorr

Related Correlations Analysis

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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   
DEVLX
+ 0.83
TRSAX
DEVLX
+ 0.82
MGIAX
MGIAX
+ 0.77
TRSAX
RNCOX
+ 0.38
MGIAX
RNCOX
+ 0.12
TRSAX
TRSAX
+ 0.0
TGIGX
  
High negative correlations   
RNCOX
- 0.06
DEVLX
RNCOX
- 0.0
TGIGX
DEVLX
- 0.0
TGIGX
MGIAX
- 0.0
TGIGX
TRSAX
- 0.0
TGIGX

Risk-Adjusted Indicators

There is a big difference between Delaware Mutual Fund performing well and Delaware 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 Delaware 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.

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