Enhanced Correlations

Mutual Funds . USA . 
Fund . Enhanced Large Pany
DFELX Fund  USD 14.39  0.02  0.14%   
The current 90-days correlation between Enhanced Large Pany and Us Micro Cap is 0.87 (i.e., Very poor diversification). The correlation of Enhanced 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.

Enhanced Correlation With Market

Poor diversification

The correlation between Enhanced Large Pany and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enhanced Large Pany 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 Enhanced Large Pany. 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 Enhanced Mutual Fund

  0.84DREIX World Core EquityPairCorr
  0.89DRIIX Dimensional 2045 TargetPairCorr
  0.74DRIHX Dimensional 2040 TargetPairCorr
  0.91DRILX Dimensional 2060 TargetPairCorr
  0.91DRIKX Dimensional 2055 TargetPairCorr
  0.91DRIJX Dimensional 2050 TargetPairCorr
  0.66DAADX Dfa Emerging MarketsPairCorr
  0.94DAABX Dfa SustainabilityPairCorr
  0.93DSCGX Dfa SmallPairCorr
  0.88DSHGX Dfa Selectively HedgedPairCorr
  0.91DTDRX Dimensional 2065 TargetPairCorr
  0.9DURPX Us High RelativePairCorr
  1.0DUSQX Us Lg CapPairCorr
  0.9DUSLX Dfa LargePairCorr

Moving against Enhanced Mutual Fund

  0.48DISVX Dfa International SmallPairCorr
  0.42DIPSX Dfa Inflation ProtectedPairCorr
  0.41DMNBX Dfa Mn MunicipalPairCorr
  0.4DMREX Dfa Municipal RealPairCorr
  0.36DNYMX Dfa Ny MunicipalPairCorr
  0.45DTCPX Dfa Targeted CreditPairCorr
  0.45DFAPX Dfa Investment GradePairCorr
  0.44DSFIX Dfa Social FixedPairCorr
  0.42DCARX Dfa California MunicipalPairCorr
  0.35DSCLX Dfa International SocialPairCorr
  0.34DFALX Large Cap InternationalPairCorr

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   
DFIHX
+ 0.99
DFFGX
DFGFX
+ 0.99
DFFGX
DFGFX
+ 0.99
DFIHX
DEMSX
+ 0.01
DFSCX
DEMSX
+ 0.0
DFFGX
  
High negative correlations   
DFGFX
- 0.72
DFSCX
DFFGX
- 0.72
DFSCX
DFIHX
- 0.69
DFSCX
DFGFX
- 0.02
DEMSX
DFIHX
- 0.01
DEMSX
DEMSX
- 0.0
DFFGX

Risk-Adjusted Indicators

There is a big difference between Enhanced Mutual Fund performing well and Enhanced 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 Enhanced'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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