Davis Select Correlations

DINT Etf

USD 23.97 0.24 1.01%

The current 90-days correlation between Davis Select Interna and Davis Select Worldwide is 0.9 (i.e., Almost no diversification). The correlation of Davis Select 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 Select Correlation With Market

Very weak diversification

The correlation between Davis Select International and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis Select International 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 Select International. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Davis Etf

0.92	VEA	Vanguard FTSE Developed	Pair Corr
0.93	IEFA	iShares Core MSCI	Pair Corr
0.95	VEU	Vanguard FTSE All	Pair Corr
0.93	EFA	iShares MSCI EAFE	Pair Corr
0.94	IXUS	iShares Core MSCI	Pair Corr
0.92	SPDW	SPDR SP World	Pair Corr
0.92	IDEV	iShares Core MSCI	Pair Corr
0.93	ESGD	iShares ESG Aware	Pair Corr
0.92	JIRE	JP Morgan Exchange	Pair Corr
0.96	DFAX	Dimensional World	Pair Corr
0.83	GDXU	MicroSectors Gold Miners	Pair Corr
0.88	JNJ	Johnson Johnson	Pair Corr
0.86	MCD	McDonalds	Pair Corr
0.75	TRV	The Travelers Companies	Pair Corr
0.89	VZ	Verizon Communications Aggressive Push	Pair Corr
0.65	GE	GE Aerospace	Pair Corr
0.74	INTC	Intel	Pair Corr
0.61	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr

Moving against Davis Etf

0.51	UPRO	ProShares UltraPro SP500	Pair Corr
0.41	QTJA	Innovator ETFs Trust	Pair Corr
0.41	QTOC	Innovator ETFs Trust	Pair Corr
0.35	XTOC	Innovator ETFs Trust	Pair Corr
0.35	XTJA	Innovator ETFs Trust	Pair Corr
0.66	CAT	Caterpillar	Pair Corr
0.63	AXP	American Express	Pair Corr
0.6	HD	Home Depot	Pair Corr
0.59	DIS	Walt Disney	Pair Corr
0.58	BAC	Bank of America	Pair Corr
0.57	MRK	Merck Company	Pair Corr
0.55	HPQ	HP Inc Sell-off Trend	Pair Corr

Related Correlations Analysis

	DWLD	DFNL	CACG	DALI	CSML
DWLD		0.7	0.0	-0.09	0.0	DWLD
DFNL	0.7		0.0	0.5	0.0	DFNL
CACG	0.0	0.0		0.0	0.0	CACG
DALI	-0.09	0.5	0.0		0.0	DALI
CSML	0.0	0.0	0.0	0.0		CSML
	DWLD	DFNL	CACG	DALI	CSML

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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

DFNL	+ 0.7	DWLD
DALI	+ 0.5	DFNL
CACG	+ 0.0	DWLD
CSML	+ 0.0	DWLD
CACG	+ 0.0	DFNL
CSML	+ 0.0	DFNL

High negative correlations

DALI	- 0.09	DWLD
CSML	- 0.0	DALI
CSML	- 0.0	CACG
DALI	- 0.0	CACG
CSML	- 0.0	DFNL
CACG	- 0.0	DFNL

Davis Select Constituents Risk-Adjusted Indicators

There is a big difference between Davis Etf performing well and Davis Select ETF 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 Select'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
DWLD	0.86	0.10	0.09	0.11	0.97	(0.94)	2.01	(1.32)	6.57
DFNL	0.77	0.10	0.08	0.09	1.02	(0.75)	1.61	(1.44)	5.98
CACG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DALI	0.96	(0.07)	0.00	(0.06)	0.00	0.00	1.54	(2.05)	5.30
CSML	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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