Dfa Ny Correlations

Mutual Funds . USA . 
Fund . Dfa Ny Municipal
DNYMX Fund  USD 10.16  0.01  0.1%   
The current 90-days correlation between Dfa Ny Municipal and Rationalpier 88 Convertible is 0.02 (i.e., Significant diversification). The correlation of Dfa Ny 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.

Dfa Ny Correlation With Market

Significant diversification

The correlation between Dfa Ny Municipal and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dfa Ny Municipal 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 Dfa Ny Municipal. 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 Dfa Mutual Fund

  0.8ANIYX New York MunicipalPairCorr
  0.81SNNYX New York MunicipalPairCorr
  0.74LTBYX Opnhmr RchstrPairCorr
  0.86IORMX Aim Taxexempt FundsPairCorr
  0.76LTNCX Oppenheimer RochesterPairCorr
  0.82LTNYX Opnhmr RchstrPairCorr
  0.75ANMCX New York MunicipalPairCorr
  0.8ANIAX New York MunicipalPairCorr
  0.7SNCAX California MunicipalPairCorr
  0.69AICYX California MunicipalPairCorr
  0.92VTISX Vanguard Total InterPairCorr
  0.77VTSNX Vanguard Total InterPairCorr
  0.77VTPSX Vanguard Total InterPairCorr
  0.74DBIWX Dws Global MacroPairCorr
  0.82USGDX Morgan Stanley GovernmentPairCorr
  0.94DLDFX Destinations Low DurationPairCorr
  0.97GIOIX Guggenheim Macro OppPairCorr
  0.67TIMUX Transamerica IntermediatePairCorr
  0.65SGDLX Sprott Gold EquityPairCorr
  0.91HRBDX Harbor Bond FundPairCorr
  0.91VICSX Vanguard Intermediate-terPairCorr
  0.79ABNOX Ab Bond InflationPairCorr

Related Correlations Analysis

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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   
PCNTX
+ 0.93
PBXIX
CCD
+ 0.89
PCNTX
CCD
+ 0.79
PBXIX
GCV
+ 0.55
PBXIX
GCV
+ 0.42
PCNTX
ARBOX
+ 0.31
GCV
  
High negative correlations   
ARBOX
- 0.66
CCD
ARBOX
- 0.52
PCNTX
ARBOX
- 0.28
PBXIX

Risk-Adjusted Indicators

There is a big difference between Dfa Mutual Fund performing well and Dfa Ny 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 Dfa Ny'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.

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