Driehaus Small Correlations

DNSMX Fund

USD 20.29 0.17 0.83%

The current 90-days correlation between Driehaus Small Cap and The Gold Bullion is -0.02 (i.e., Good diversification). The correlation of Driehaus Small 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.

Driehaus Small Correlation With Market

Good diversification

The correlation between Driehaus Small Cap and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Driehaus Small 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 Driehaus Small 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 population.

Moving together with Driehaus Mutual Fund

0.81	DMAGX	Driehaus Multi Asset	Pair Corr
0.94	DMCRX	Driehaus Micro Cap	Pair Corr
1.0	DSMDX	Driehaus Smallmid Cap	Pair Corr
0.97	DVSMX	Driehaus Small Cap	Pair Corr
0.94	DEVDX	Driehaus Event Driven	Pair Corr
0.94	VSGAX	Vanguard Small Cap	Pair Corr
0.94	VSGIX	Vanguard Small Cap	Pair Corr
0.94	VISGX	Vanguard Small Cap	Pair Corr
0.89	VEXPX	Vanguard Explorer	Pair Corr
0.89	VEXRX	Vanguard Explorer	Pair Corr
0.88	JGMIX	Janus Triton	Pair Corr
0.88	JGMRX	Janus Triton	Pair Corr
0.88	JGMAX	Janus Triton	Pair Corr
0.88	JGMCX	Janus Triton	Pair Corr
0.88	JGMNX	Janus Triton	Pair Corr

Moving against Driehaus Mutual Fund

0.6	DRIOX	Driehaus International	Pair Corr
0.93	UIPIX	Ultrashort Mid Cap	Pair Corr
0.85	USPSX	Profunds Ultrashort	Pair Corr
0.85	USPIX	Profunds Ultrashort	Pair Corr
0.83	CIHCX	Cullen International High	Pair Corr
0.79	USGDX	Morgan Stanley Government	Pair Corr
0.77	GSTPX	Goldman Sachs Inflation	Pair Corr
0.76	MEERX	Massmutual Premier	Pair Corr
0.67	FTCAX	Templeton Strained Bond	Pair Corr
0.67	GIOIX	Guggenheim Macro Opp	Pair Corr
0.63	DLDFX	Destinations Low Duration	Pair Corr
0.56	MRCZX	Massmutual Retiresmart	Pair Corr
0.53	VMLTX	Vanguard Limited Term	Pair Corr
0.51	PDI	Pimco Dynamic Income	Pair Corr
0.41	TIMUX	Transamerica Intermediate	Pair Corr

Related Correlations Analysis

	QGLDX	MXKJX	UNWPX	SGDLX	AGYCX	FGDIX
QGLDX		-0.55	0.96	0.96	0.98	0.99	QGLDX
MXKJX	-0.55		-0.54	-0.52	-0.56	-0.55	MXKJX
UNWPX	0.96	-0.54		0.97	0.97	0.97	UNWPX
SGDLX	0.96	-0.52	0.97		0.99	0.99	SGDLX
AGYCX	0.98	-0.56	0.97	0.99		1.0	AGYCX
FGDIX	0.99	-0.55	0.97	0.99	1.0		FGDIX
	QGLDX	MXKJX	UNWPX	SGDLX	AGYCX	FGDIX

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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

FGDIX	+ 1.0	AGYCX
FGDIX	+ 0.99	QGLDX
AGYCX	+ 0.99	SGDLX
FGDIX	+ 0.99	SGDLX
AGYCX	+ 0.98	QGLDX
SGDLX	+ 0.97	UNWPX

High negative correlations

AGYCX	- 0.56	MXKJX
FGDIX	- 0.55	MXKJX
MXKJX	- 0.55	QGLDX
UNWPX	- 0.54	MXKJX
SGDLX	- 0.52	MXKJX

Risk-Adjusted Indicators

There is a big difference between Driehaus Mutual Fund performing well and Driehaus Small 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 Driehaus Small'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
QGLDX	0.72	0.18	0.28	(3.60)	0.68	(0.81)	1.71	(1.33)	3.97
MXKJX	1.07	(0.06)	0.00	(0.16)	0.00	0.00	1.42	(1.97)	26.05
UNWPX	1.27	0.32	0.19	0.60	1.37	(1.60)	3.11	(2.50)	8.41
SGDLX	1.24	0.26	0.18	0.73	1.36	(1.33)	3.01	(2.88)	7.21
AGYCX	1.25	0.36	0.23	0.65	1.39	(1.40)	2.74	(2.65)	7.30
FGDIX	1.24	0.36	0.24	0.66	1.32	(1.41)	3.15	(2.74)	6.82

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