Df Dent Correlations

DFMLX Fund

USD 39.14 0.33 0.84%

The current 90-days correlation between Df Dent Midcap and Morningstar Municipal Bond is 0.02 (i.e., Significant diversification). The correlation of Df Dent 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.

Df Dent Correlation With Market

Poor diversification

The correlation between Df Dent Midcap 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 Df Dent Midcap 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 Df Dent Midcap. 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 DFMLX Mutual Fund

0.97	DFDSX	Df Dent Small	Pair Corr
0.95	DFDPX	Df Dent Premier	Pair Corr
1.0	DFDMX	Df Dent Midcap	Pair Corr
1.0	DFMGX	Df Dent Midcap	Pair Corr
0.94	DFSGX	Df Dent Small	Pair Corr
0.96	PAMCX	T Rowe Price	Pair Corr
0.91	RRMGX	T Rowe Price	Pair Corr
0.96	TRQZX	T Rowe Price	Pair Corr
0.91	RPMGX	T Rowe Price	Pair Corr
0.96	PRJIX	T Rowe Price	Pair Corr
0.98	PRNHX	T Rowe Price	Pair Corr
0.98	TRUZX	T Rowe Price	Pair Corr
0.95	PCBIX	Midcap Fund Institutional	Pair Corr
0.92	PEMGX	Midcap Fund Class	Pair Corr
0.95	PMBCX	Midcap Fund Class	Pair Corr
0.92	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.91	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.91	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.91	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.91	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.91	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.91	LSHUX	Horizon Spin Off	Pair Corr
0.9	EMO	Clearbridge Energy Mlp	Pair Corr
0.64	FSUTX	Utilities Portfolio	Pair Corr
0.83	GVCAX	Gabelli Value	Pair Corr
0.87	WAMIX	Wstcm Credit Select	Pair Corr
0.62	ACP	Aberdeen Income Credit	Pair Corr
0.88	FZROX	Fidelity Zero Total	Pair Corr
0.9	FGRIX	Fidelity Growth Income	Pair Corr
0.67	HIX	Western Asset High	Pair Corr
0.92	FIVUX	First Investors Oppo	Pair Corr
0.85	VFIAX	Vanguard 500 Index	Pair Corr

Related Correlations Analysis

	MSTPX	BIDPX	OWMBX	CFNLX	MDMTX	FHYVX	GABTX
MSTPX		0.91	0.82	0.94	0.88	0.95	0.15	MSTPX
BIDPX	0.91		0.95	0.93	0.96	0.85	0.03	BIDPX
OWMBX	0.82	0.95		0.94	0.94	0.7	-0.2	OWMBX
CFNLX	0.94	0.93	0.94		0.93	0.85	-0.08	CFNLX
MDMTX	0.88	0.96	0.94	0.93		0.79	-0.12	MDMTX
FHYVX	0.95	0.85	0.7	0.85	0.79		0.31	FHYVX
GABTX	0.15	0.03	-0.2	-0.08	-0.12	0.31		GABTX
	MSTPX	BIDPX	OWMBX	CFNLX	MDMTX	FHYVX	GABTX

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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

MDMTX	+ 0.96	BIDPX
FHYVX	+ 0.95	MSTPX
OWMBX	+ 0.95	BIDPX
CFNLX	+ 0.94	MSTPX
CFNLX	+ 0.94	OWMBX
MDMTX	+ 0.94	OWMBX

High negative correlations

GABTX	- 0.2	OWMBX
GABTX	- 0.12	MDMTX
GABTX	- 0.08	CFNLX

Risk-Adjusted Indicators

There is a big difference between DFMLX Mutual Fund performing well and Df Dent 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 Df Dent'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
MSTPX	0.11	0.01	(0.28)	(0.04)	0.14	(0.18)	0.30	(0.30)	1.10
BIDPX	0.14	0.00	(0.30)	0.06	0.21	(0.18)	0.27	(0.45)	1.36
OWMBX	0.11	(0.01)	(0.49)	(0.14)	0.15	(0.16)	0.26	(0.26)	0.87
CFNLX	0.12	0.01	(0.43)	0.04	0.18	(0.16)	0.22	(0.32)	1.13
MDMTX	0.16	(0.01)	(0.28)	(0.07)	0.24	(0.24)	0.38	(0.56)	1.33
FHYVX	0.16	0.02	(0.22)	(0.08)	0.22	(0.25)	0.44	(0.44)	1.88
GABTX	0.49	0.13	0.05	1.27	0.35	(0.57)	1.09	(1.00)	3.00

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