Davis International Correlations

DILAX Fund

USD 14.01 0.02 0.14%

The current 90-days correlation between Davis International and Champlain Small is 0.4 (i.e., Very weak diversification). The correlation of Davis International 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.

Davis International Correlation With Market

Very weak diversification

The correlation between Davis International Fund and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis International 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 Davis International 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 Davis Mutual Fund

1.0	DILCX	Davis International	Pair Corr
1.0	DILYX	Davis International	Pair Corr
0.85	RFBAX	Davis Government Bond	Pair Corr
0.88	DGFCX	Davis Global	Pair Corr
0.89	DGFAX	Davis Global	Pair Corr
0.79	DGFYX	Davis Global	Pair Corr
0.83	DGVCX	Davis Government Bond	Pair Corr
0.84	DGVYX	Davis Government Bond	Pair Corr
0.9	VGTSX	Vanguard Total Inter	Pair Corr
0.73	VTIAX	Vanguard Total Inter	Pair Corr
0.96	VTSNX	Vanguard Total Inter	Pair Corr
0.96	VTPSX	Vanguard Total Inter	Pair Corr
0.9	VTISX	Vanguard Total Inter	Pair Corr
0.94	VTMGX	Vanguard Developed	Pair Corr
0.95	VDVIX	Vanguard Developed	Pair Corr
0.95	VTMNX	Vanguard Developed	Pair Corr
0.94	VDIPX	Vanguard Developed	Pair Corr
0.9	FSPSX	Fidelity International	Pair Corr

Related Correlations Analysis

	CIPNX	ANTMX	PSBMX	LMBMX	CMPAX	DFUKX	OWSMX	QLMSTX
CIPNX		0.4	0.93	0.92	0.71	-0.11	0.79	0.88	CIPNX
ANTMX	0.4		0.37	0.31	0.48	0.65	0.74	0.48	ANTMX
PSBMX	0.93	0.37		0.98	0.83	-0.28	0.76	0.97	PSBMX
LMBMX	0.92	0.31	0.98		0.8	-0.26	0.71	0.95	LMBMX
CMPAX	0.71	0.48	0.83	0.8		-0.18	0.62	0.85	CMPAX
DFUKX	-0.11	0.65	-0.28	-0.26	-0.18		0.28	-0.17	DFUKX
OWSMX	0.79	0.74	0.76	0.71	0.62	0.28		0.82	OWSMX
QLMSTX	0.88	0.48	0.97	0.95	0.85	-0.17	0.82		QLMSTX
	CIPNX	ANTMX	PSBMX	LMBMX	CMPAX	DFUKX	OWSMX	QLMSTX

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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

LMBMX	+ 0.98	PSBMX
QLMSTX	+ 0.97	PSBMX
QLMSTX	+ 0.95	LMBMX
PSBMX	+ 0.93	CIPNX
LMBMX	+ 0.92	CIPNX
QLMSTX	+ 0.88	CIPNX

High negative correlations

DFUKX	- 0.28	PSBMX
DFUKX	- 0.26	LMBMX
DFUKX	- 0.18	CMPAX
QLMSTX	- 0.17	DFUKX
DFUKX	- 0.11	CIPNX

Risk-Adjusted Indicators

There is a big difference between Davis Mutual Fund performing well and Davis International 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 Davis International'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
CIPNX	1.01	(0.23)	0.00	(0.21)	0.00	0.00	1.52	(2.00)	10.86
ANTMX	0.73	(0.01)	(0.01)	0.06	1.03	(0.75)	1.48	(1.52)	5.64
PSBMX	1.02	(0.16)	0.00	(0.15)	0.00	0.00	2.03	(2.32)	5.36
LMBMX	1.02	(0.15)	0.00	(0.13)	0.00	0.00	2.03	(2.43)	5.60
CMPAX	0.77	(0.09)	0.00	(2.04)	0.00	0.00	1.50	(1.63)	3.50
DFUKX	0.80	(0.03)	0.00	0.10	0.00	0.00	1.96	(2.04)	6.05
OWSMX	0.68	(0.08)	0.00	(0.11)	0.00	0.00	1.19	(1.37)	3.89
QLMSTX	1.04	(0.12)	0.00	(0.10)	0.00	0.00	1.75	(2.77)	5.65

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