Davis New Correlations

DNVYX Fund

USD 27.88 0.09 0.32%

The current 90-days correlation between Davis New York and Lord Abbett Intermediate is -0.17 (i.e., Good diversification). The correlation of Davis New 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 New Correlation With Market

Good diversification

The correlation between Davis New York and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis New York 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 New York. 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 manufacturing.

Moving together with Davis Mutual Fund

0.89	RPFGX	Davis Financial	Pair Corr
0.93	NYVCX	Davis New York	Pair Corr
1.0	NYVBX	Davis New York	Pair Corr
1.0	NYVRX	Davis New York	Pair Corr
0.93	NYVTX	Davis New York	Pair Corr
0.89	DVFYX	Davis Financial	Pair Corr
0.88	VVIAX	Vanguard Value Index	Pair Corr
0.88	DOXGX	Dodge Cox Stock	Pair Corr
0.86	AFMFX	American Mutual	Pair Corr
0.87	FFMMX	American Funds American	Pair Corr
0.87	FFFMX	American Funds American	Pair Corr
0.87	AMRMX	American Mutual	Pair Corr
0.87	AMFFX	American Mutual	Pair Corr
0.75	AMFCX	American Mutual	Pair Corr
0.87	DODGX	Dodge Stock Fund	Pair Corr
0.89	VIVAX	Vanguard Value Index	Pair Corr
0.62	CITEX	American High Income	Pair Corr
0.66	PCCFX	Prudential Income Builder	Pair Corr
0.81	MRDVX	Blackrock Eq Dividend	Pair Corr

Moving against Davis Mutual Fund

0.52	USPSX	Profunds Ultrashort	Pair Corr
0.51	USPIX	Profunds Ultrashort	Pair Corr
0.48	UIPIX	Ultrashort Mid Cap	Pair Corr

Related Correlations Analysis

	LOISX	GVPIX	GCMVX	SSAGX	ATOAX	GSOIX	PBCAX
LOISX		0.82	0.94	0.7	0.6	0.83	0.95	LOISX
GVPIX	0.82		0.84	0.65	0.49	0.91	0.8	GVPIX
GCMVX	0.94	0.84		0.8	0.72	0.9	0.98	GCMVX
SSAGX	0.7	0.65	0.8		0.97	0.88	0.74	SSAGX
ATOAX	0.6	0.49	0.72	0.97		0.78	0.67	ATOAX
GSOIX	0.83	0.91	0.9	0.88	0.78		0.85	GSOIX
PBCAX	0.95	0.8	0.98	0.74	0.67	0.85		PBCAX
	LOISX	GVPIX	GCMVX	SSAGX	ATOAX	GSOIX	PBCAX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Davis Mutual Fund performing well and Davis New 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 New'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
LOISX	0.13	0.01	0.34	0.16	0.10	(0.17)	0.30	(0.39)	0.88
GVPIX	0.77	0.01	0.08	0.02	0.88	(0.83)	1.96	(1.45)	3.76
GCMVX	0.10	(0.01)	0.00	(0.45)	0.00	0.00	0.20	(0.30)	0.60
SSAGX	0.06	0.01	0.76	(0.91)	0.00	(0.16)	0.10	(0.10)	0.51
ATOAX	0.02	0.00	0.00	(0.07)	0.00	0.00	0.00	0.00	0.30
GSOIX	0.24	0.02	0.28	0.45	0.22	(0.28)	0.62	(0.46)	1.42
PBCAX	0.11	(0.01)	0.00	(0.33)	0.00	0.00	0.30	(0.31)	0.82

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC