Dana Large Correlations

DLCIX Fund

USD 20.76 0.02 0.1%

The current 90-days correlation between Dana Large Cap and Ms Global Fixed is 0.07 (i.e., Significant diversification). The correlation of Dana Large 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.

Dana Large Correlation With Market

Weak diversification

The correlation between Dana Large Cap and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dana Large Cap 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 Dana Large Cap. 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 gross domestic product.

Moving together with Dana Mutual Fund

1.0	DLCEX	Dana Large Cap	Pair Corr
0.75	DSCIX	Dana Small Cap	Pair Corr

Moving against Dana Mutual Fund

0.58	GAAVX	Gmo Alternative Allo	Pair Corr
0.52	WMRIX	Wilmington Multi-manager	Pair Corr
0.5	ISD	Pgim High Yield	Pair Corr
0.47	GQJPX	Gqg Partners Interna	Pair Corr
0.47	FSUGX	American Funds Government	Pair Corr
0.42	SACEX	Spirit Of America	Pair Corr
0.41	GHVIX	Gmo High Yield	Pair Corr
0.35	ACMTX	Ab All Market	Pair Corr
0.35	SMCHX	Alpssmith Total Return	Pair Corr
0.64	LIFAX	Lord Abbett Inflation	Pair Corr
0.6	HIMZX	Virtus Low Duration	Pair Corr
0.58	HIO	Western Asset High	Pair Corr
0.55	RYARX	Inverse Sp 500	Pair Corr

Related Correlations Analysis

	MFIRX	TAADX	PACEX	TTRBX	WACIX	CWFIX	NWJVX
MFIRX		0.93	0.93	0.97	0.95	0.96	0.95	MFIRX
TAADX	0.93		0.95	0.99	0.99	0.88	0.91	TAADX
PACEX	0.93	0.95		0.96	0.95	0.9	0.92	PACEX
TTRBX	0.97	0.99	0.96		0.99	0.92	0.95	TTRBX
WACIX	0.95	0.99	0.95	0.99		0.9	0.92	WACIX
CWFIX	0.96	0.88	0.9	0.92	0.9		0.94	CWFIX
NWJVX	0.95	0.91	0.92	0.95	0.92	0.94		NWJVX
	MFIRX	TAADX	PACEX	TTRBX	WACIX	CWFIX	NWJVX

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Risk-Adjusted Indicators

There is a big difference between Dana Mutual Fund performing well and Dana Large 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 Dana Large'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
MFIRX	0.11	0.01	0.31	0.72	0.00	(0.21)	0.19	(0.19)	0.77
TAADX	0.22	0.01	0.28	0.27	0.19	(0.28)	0.50	(0.38)	1.27
PACEX	0.12	0.01	0.45	(0.32)	0.00	(0.20)	0.33	(0.22)	0.76
TTRBX	0.16	0.01	0.39	0.46	0.10	(0.19)	0.40	(0.30)	0.82
WACIX	0.26	0.01	0.25	0.13	0.25	(0.31)	0.55	(0.55)	1.56
CWFIX	0.08	0.01	0.62	(0.89)	0.00	(0.12)	0.11	(0.11)	0.53
NWJVX	0.08	0.01	0.68	0.92	0.00	(0.14)	0.20	(0.10)	0.61

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