Delaware Healthcare Correlations

DLHIX Fund

USD 24.82 0.38 1.51%

The current 90-days correlation between Delaware Healthcare and Aqr Global Equity is 0.59 (i.e., Very weak diversification). The correlation of Delaware Healthcare 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.

Delaware Healthcare Correlation With Market

Very weak diversification

The correlation between Delaware Healthcare Fund and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Delaware Healthcare 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 Delaware Healthcare 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 gross domestic product.

Moving together with Delaware Mutual Fund

0.81	IMAAX	Ivy Apollo Multi	Pair Corr
0.7	OCFIX	Optimum Fixed Income	Pair Corr
0.87	OCIEX	Optimum International	Pair Corr
0.69	OCLVX	Optimum Large Cap	Pair Corr
0.89	DLRHX	Delaware Healthcare	Pair Corr
0.7	DLTZX	Delaware Limited Term	Pair Corr
0.74	DLTRX	Delaware Limited Term	Pair Corr
0.66	DMHIX	Delaware Minnesota High	Pair Corr
0.71	OIFIX	Optimum Fixed Income	Pair Corr
0.74	DULTX	Delaware Investments	Pair Corr
0.65	VIDAX	Delaware Tax Free	Pair Corr
0.75	DUSIX	Delaware Tax Free	Pair Corr
0.63	DEERX	Delaware Extended	Pair Corr
0.66	DELIX	Delaware Tax Free	Pair Corr
0.72	DGCCX	Delaware Porate Bond	Pair Corr
0.62	PRHSX	T Rowe Price	Pair Corr
0.68	THISX	T Rowe Price	Pair Corr
0.95	VHCIX	Vanguard Health Care	Pair Corr
0.92	SHISX	Blackrock Health Sciences	Pair Corr
0.91	SHSCX	Blackrock Health Sciences	Pair Corr
0.92	SHSAX	Blackrock Health Sciences	Pair Corr
0.92	SHSSX	Blackrock Health Sciences	Pair Corr
0.83	FSMMX	Fs Multi Strategy	Pair Corr
0.81	BTMPX	Ishares Msci Eafe	Pair Corr
0.81	BTMKX	Blackrock International	Pair Corr

Related Correlations Analysis

	AQGNX	TBCUX	BCGDX	SGMAX	QGMIX	LFLCX	MFIRX	DBLGX
AQGNX		0.61	0.87	0.78	0.64	0.78	0.79	0.63	AQGNX
TBCUX	0.61		0.62	0.81	0.93	0.89	0.86	0.93	TBCUX
BCGDX	0.87	0.62		0.79	0.56	0.8	0.75	0.64	BCGDX
SGMAX	0.78	0.81	0.79		0.77	0.89	0.87	0.86	SGMAX
QGMIX	0.64	0.93	0.56	0.77		0.87	0.89	0.89	QGMIX
LFLCX	0.78	0.89	0.8	0.89	0.87		0.97	0.92	LFLCX
MFIRX	0.79	0.86	0.75	0.87	0.89	0.97		0.91	MFIRX
DBLGX	0.63	0.93	0.64	0.86	0.89	0.92	0.91		DBLGX
	AQGNX	TBCUX	BCGDX	SGMAX	QGMIX	LFLCX	MFIRX	DBLGX

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Risk-Adjusted Indicators

There is a big difference between Delaware Mutual Fund performing well and Delaware Healthcare 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 Delaware Healthcare'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
AQGNX	0.85	0.09	0.07	0.09	1.00	(0.90)	1.55	(1.80)	5.59
TBCUX	0.60	0.11	0.14	(0.67)	0.56	(0.68)	1.49	(1.14)	4.33
BCGDX	0.64	0.02	0.01	(0.10)	0.92	(0.67)	1.28	(1.27)	3.69
SGMAX	0.56	(0.06)	0.00	(0.12)	0.00	0.00	0.95	(0.77)	9.52
QGMIX	0.37	0.12	0.25	(0.59)	0.18	(0.45)	0.83	(0.63)	2.42
LFLCX	0.18	0.01	0.03	(0.37)	0.14	(0.21)	0.43	(0.33)	0.98
MFIRX	0.11	0.02	0.05	1.47	0.00	(0.21)	0.19	(0.19)	0.77
DBLGX	0.22	0.01	0.02	0.19	0.20	(0.30)	0.48	(0.36)	1.21

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Delaware Healthcare Correlations

Delaware Healthcare Correlation With Market

Very weak diversification

Moving together with Delaware Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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