Destinations Equity Correlations

DGEFX Fund

USD 13.14 0.08 0.61%

The current 90-days correlation between Destinations Equity and Fvkvwx is 0.44 (i.e., Very weak diversification). The correlation of Destinations Equity 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.

Destinations Equity Correlation With Market

Poor diversification

The correlation between Destinations Equity Income and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Destinations Equity Income 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 Destinations Equity Income. 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 census.

Moving together with Destinations Mutual Fund

0.91	DIEZX	Destinations International	Pair Corr
0.91	DIEFX	Destinations International	Pair Corr
0.86	DLDFX	Destinations Low Duration	Pair Corr
0.87	DLDZX	Destinations Low Duration	Pair Corr
0.79	DMFFX	Destinations Municipal	Pair Corr
0.79	DMFZX	Destinations Municipal	Pair Corr
0.79	DCFFX	Destinations Core Fixed	Pair Corr
0.8	DCFZX	Destinations Core Fixed	Pair Corr
1.0	DGEZX	Destinations Equity	Pair Corr
0.94	DGFZX	Destinations Global Fixed	Pair Corr
0.94	DGFFX	Destinations Global Fixed	Pair Corr
0.76	TEDRX	Franklin Mutual Global	Pair Corr
0.78	FMDRX	Franklin Mutual Global	Pair Corr
0.7	DOXWX	Dodge Cox Global	Pair Corr
0.7	DODWX	Dodge Global Stock	Pair Corr
0.91	TRZRX	T Rowe Price	Pair Corr
0.77	TEDIX	Franklin Mutual Global	Pair Corr
0.78	MDISX	Franklin Mutual Global	Pair Corr
0.77	TEDSX	Franklin Mutual Global	Pair Corr
0.91	PRAFX	T Rowe Price	Pair Corr
0.9	BEGRX	Franklin Mutual Beacon	Pair Corr
0.83	BRUFX	Bruce Fund Bruce	Pair Corr
0.85	KF	Korea Closed	Pair Corr
0.78	NSAOX	Nuveen Strategic Mun	Pair Corr
0.85	PCIEX	Pace International Equity	Pair Corr
0.83	CRSCX	Credit Suisse Modity	Pair Corr
0.94	BBTIX	Bridge Builder Tax	Pair Corr

Moving against Destinations Mutual Fund

0.35	DSMFX	Destinations Small Mid	Pair Corr
0.34	DSMZX	Destinations Small Mid	Pair Corr
0.51	SPGSX	State Street Premier	Pair Corr

Related Correlations Analysis

	FVKVWX	XHYIX	RTIUX	FSULTX	CPUCX	ABVCX	RPBAX	FZNOPX
FVKVWX		0.43	0.18	-0.16	0.01	0.64	0.44	0.7	FVKVWX
XHYIX	0.43		-0.11	0.03	-0.01	0.62	0.67	0.57	XHYIX
RTIUX	0.18	-0.11		0.52	0.86	0.31	0.41	-0.06	RTIUX
FSULTX	-0.16	0.03	0.52		0.81	-0.11	0.26	-0.37	FSULTX
CPUCX	0.01	-0.01	0.86	0.81		0.18	0.4	-0.22	CPUCX
ABVCX	0.64	0.62	0.31	-0.11	0.18		0.71	0.82	ABVCX
RPBAX	0.44	0.67	0.41	0.26	0.4	0.71		0.36	RPBAX
FZNOPX	0.7	0.57	-0.06	-0.37	-0.22	0.82	0.36		FZNOPX
	FVKVWX	XHYIX	RTIUX	FSULTX	CPUCX	ABVCX	RPBAX	FZNOPX

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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

CPUCX	+ 0.86	RTIUX
FZNOPX	+ 0.82	ABVCX
CPUCX	+ 0.81	FSULTX
RPBAX	+ 0.71	ABVCX
FZNOPX	+ 0.7	FVKVWX
RPBAX	+ 0.67	XHYIX

High negative correlations

FZNOPX	- 0.37	FSULTX
FZNOPX	- 0.22	CPUCX
FSULTX	- 0.16	FVKVWX
ABVCX	- 0.11	FSULTX
RTIUX	- 0.11	XHYIX
FZNOPX	- 0.06	RTIUX

Risk-Adjusted Indicators

There is a big difference between Destinations Mutual Fund performing well and Destinations Equity 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 Destinations Equity'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
FVKVWX	0.74	0.11	0.12	0.14	1.04	(0.75)	1.50	(1.67)	4.47
XHYIX	0.16	(0.02)	0.00	(0.28)	0.00	0.00	0.25	(0.49)	1.31
RTIUX	0.61	0.10	0.16	0.14	0.76	(0.66)	1.47	(1.45)	5.02
FSULTX	0.28	0.02	0.21	0.54	0.33	(0.30)	0.61	(0.51)	1.75
CPUCX	0.25	0.01	0.23	0.11	0.25	(0.31)	0.44	(0.54)	1.45
ABVCX	0.67	0.00	0.00	(0.06)	0.00	0.00	1.34	(1.63)	3.68
RPBAX	0.56	(0.05)	0.00	(0.17)	0.00	0.00	0.93	(1.07)	6.85
FZNOPX	0.75	0.02	0.00	(0.03)	0.00	0.00	1.55	(1.63)	3.75

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