Delaware Small Correlations

Mutual Funds . USA . 
Fund . Delaware Small Cap
DEVLX Fund  USD 61.37  0.46  0.74%   
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

Poor diversification

The correlation between Delaware Small Cap and DJI is 0.74 (i.e., 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 bureau of economic analysis.

Moving together with Delaware Mutual Fund

  0.95OASGX Optimum Small MidPairCorr
  0.98OASVX Optimum Small MidPairCorr
  0.88OCLGX Optimum Large CapPairCorr
  0.93WCEAX Ivy E EquityPairCorr
  0.88OILGX Optimum Large CapPairCorr
  0.95OISGX Optimum Small MidPairCorr
  0.98OISVX Optimum Small MidPairCorr
  0.73WHIAX Ivy High IncomePairCorr
  0.85IBNAX Ivy BalancedPairCorr
  0.83IEYAX Ivy Energy FundPairCorr
  0.9WLGAX Ivy Large CapPairCorr

Moving against Delaware Mutual Fund

  0.61DLTRX Delaware Limited TermPairCorr
  0.59OCFIX Optimum Fixed IncomePairCorr
  0.52DMO Western Asset MortgagePairCorr
  0.46DLTZX Delaware Limited TermPairCorr
  0.6OIFIX Optimum Fixed IncomePairCorr
  0.6DPCFX Delaware DiversifiedPairCorr
  0.59DPDFX Delaware DiversifiedPairCorr
  0.56DPRFX Delaware DiversifiedPairCorr
  0.53DPFFX Delaware DiversifiedPairCorr
  0.44IVIAX Ivy InternationalPairCorr
  0.63DTICX Delaware Limited TermPairCorr
  0.57DULTX Delaware InvestmentsPairCorr

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   
DPREX
+ 0.57
DDVAX
DDVAX
+ 0.0
DFCIX
DPREX
+ 0.0
DFCIX
DEGIX
+ 0.0
DFCIX
DVEAX
+ 0.0
DFCIX
DEGIX
+ 0.0
DDVAX
  
High negative correlations   
DVEAX
- 0.0
DEGIX
DVEAX
- 0.0
DPREX
DEGIX
- 0.0
DPREX
DVEAX
- 0.0
DDVAX
DEGIX
- 0.0
DDVAX
DVEAX
- 0.0
DFCIX

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.

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