Davenport Value Correlations

Mutual Funds . USA . 
Fund . Davenport Value Income
DVIPX Fund  USD 19.14  0.09  0.47%   
The current 90-days correlation between Davenport Value Income and Ab Impact Municipal is -0.06 (i.e., Good diversification). The correlation of Davenport Value 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.

Davenport Value Correlation With Market

Poor diversification

The correlation between Davenport Value Income and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davenport Value Income 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 Davenport Value Income. 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 american community survey.

Moving together with Davenport Mutual Fund

  0.99DBALX Davenport Balanced IncomePairCorr
  0.88VVIAX Vanguard Value IndexPairCorr
  0.89DOXGX Dodge Cox StockPairCorr
  0.86AFMFX American MutualPairCorr
  0.86FFMMX American Funds AmericanPairCorr
  0.86FFFMX American Funds AmericanPairCorr
  0.86AMRMX American MutualPairCorr
  0.78AMFFX American MutualPairCorr
  0.86AMFCX American MutualPairCorr
  0.9DODGX Dodge Stock FundPairCorr
  0.88VIVAX Vanguard Value IndexPairCorr
  0.73PFN Pimco Income StrategyPairCorr
  0.68CIF Mfs Intermediate HighPairCorr
  0.69NXJ Nuveen New JerseyPairCorr
  0.78XPPRX Voya Prime RatePairCorr
  0.86PCF Putnam High IncomePairCorr
  0.75AINGX Inflation Adjusted BondPairCorr
  0.68NMNCX Neuberger Berman MunPairCorr
  0.71WFITX Intermediate Tax/amt-freePairCorr
  0.94GMTYX Mydestination 2015PairCorr
  0.69THNYX Thornburg New YorkPairCorr
  0.77LSBDX Loomis Sayles BondPairCorr
  0.73TSSIX Thornburg StrategicPairCorr
  0.72SCINX Deutsche Croci InterPairCorr
  0.66THCAX Thornburg Core PlusPairCorr
  0.62PSHYX Pioneer Short TermPairCorr
  0.67NSIVX North Square InvestmentsPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Davenport Mutual Fund performing well and Davenport Value 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 Davenport Value'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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