Driehaus International Correlations

DRIOX Fund

USD 9.22 0.11 1.18%

The correlation of Driehaus International 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 International Correlation With Market

Good diversification

The correlation between Driehaus International Small 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 International Small 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 International Small. 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 persons.

Moving together with Driehaus Mutual Fund

0.67	DIEMX	Driehaus Emerging Markets	Pair Corr
0.65	DREGX	Driehaus Emerging Markets	Pair Corr
0.71	OSMYX	Oppenheimer Intl Small	Pair Corr
0.71	OSCIX	Oppenheimer Intl Small	Pair Corr
0.83	OSMNX	Oppenheimer Intl Small	Pair Corr
0.75	TIDDX	T Rowe Price	Pair Corr
0.77	MIDGX	Mfs International New	Pair Corr
0.77	MIDHX	Mfs International New	Pair Corr
0.77	MIDRX	Mfs International New	Pair Corr
0.74	AILCX	American Beacon Inte	Pair Corr
0.63	CUSDX	Six Circles Ultra	Pair Corr
0.92	VEMAX	Vanguard Emerging Markets	Pair Corr
0.68	MOALX	Moalx	Pair Corr
0.74	BRXVX	Mfs Blended Research	Pair Corr
0.73	INVYX	Pioneer International	Pair Corr
0.75	TPISX	Tiaa Cref Intl	Pair Corr
0.63	FFVTX	Fidelity Advisor Freedom	Pair Corr
0.85	SCINX	Deutsche Croci Inter	Pair Corr
0.67	RNWHX	New World Fund	Pair Corr
0.72	GHQYX	Amer Beacon Garcia	Pair Corr

Moving against Driehaus Mutual Fund

0.6	DNSMX	Driehaus Small Cap	Pair Corr
0.58	DEVDX	Driehaus Event Driven	Pair Corr
0.54	SMPIX	Semiconductor Ultrasector	Pair Corr
0.53	DMCRX	Driehaus Micro Cap	Pair Corr
0.31	DMAGX	Driehaus Multi Asset	Pair Corr
0.52	SMPSX	Semiconductor Ultrasector	Pair Corr

Related Correlations Analysis

	HEWXX	IVMXX	GCFSX	SWGXX	PSSRX	FMFXX	DVFYX	FAFSX
HEWXX		0.0	0.0	0.0	0.0	0.0	0.0	0.0	HEWXX
IVMXX	0.0		0.0	0.0	0.0	0.0	0.0	0.0	IVMXX
GCFSX	0.0	0.0		0.51	0.35	0.0	0.85	0.37	GCFSX
SWGXX	0.0	0.0	0.51		0.11	0.0	0.43	0.14	SWGXX
PSSRX	0.0	0.0	0.35	0.11		0.0	0.72	0.99	PSSRX
FMFXX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	FMFXX
DVFYX	0.0	0.0	0.85	0.43	0.72	0.0		0.74	DVFYX
FAFSX	0.0	0.0	0.37	0.14	0.99	0.0	0.74		FAFSX
	HEWXX	IVMXX	GCFSX	SWGXX	PSSRX	FMFXX	DVFYX	FAFSX

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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

FAFSX	+ 0.99	PSSRX
DVFYX	+ 0.85	GCFSX
FAFSX	+ 0.74	DVFYX
DVFYX	+ 0.72	PSSRX
SWGXX	+ 0.51	GCFSX
DVFYX	+ 0.43	SWGXX

High negative correlations

FAFSX	- 0.0	FMFXX
DVFYX	- 0.0	FMFXX
FMFXX	- 0.0	PSSRX
FMFXX	- 0.0	SWGXX
FMFXX	- 0.0	GCFSX
FAFSX	- 0.0	IVMXX

Risk-Adjusted Indicators

There is a big difference between Driehaus Mutual Fund performing well and Driehaus International 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 International'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
HEWXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IVMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GCFSX	0.71	0.12	0.14	(2.14)	0.85	(0.78)	1.80	(1.39)	4.68
SWGXX	0.03	0.01	0.00	(4.42)	0.00	0.00	0.00	0.00	1.01
PSSRX	0.94	(0.05)	0.00	(0.07)	0.00	0.00	1.85	(2.57)	6.03
FMFXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DVFYX	0.80	0.10	0.10	(15.73)	1.05	(0.81)	1.65	(1.41)	6.47
FAFSX	0.85	0.01	0.00	(0.02)	0.00	0.00	1.71	(2.10)	6.26

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