Dana Epiphany Correlations

ESGIX Fund

USD 16.08 0.08 0.50%

The current 90-days correlation between Dana Epiphany Esg and Jhancock Diversified Macro is 0.54 (i.e., Very weak diversification). The correlation of Dana Epiphany 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.

Dana Epiphany Correlation With Market

Very poor diversification

The correlation between Dana Epiphany Esg and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dana Epiphany Esg 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 Dana Epiphany Esg. 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 gross domestic product.

Moving together with Dana Mutual Fund

1.0	DLCIX	Dana Large Cap	Pair Corr
1.0	DLCEX	Dana Large Cap	Pair Corr
0.92	DSCIX	Dana Small Cap	Pair Corr
1.0	VTSAX	Vanguard Total Stock	Pair Corr
1.0	VFIAX	Vanguard 500 Index	Pair Corr
1.0	VTSMX	Vanguard Total Stock	Pair Corr
1.0	VITSX	Vanguard Total Stock	Pair Corr
1.0	VSMPX	Vanguard Total Stock	Pair Corr
1.0	VSTSX	Vanguard Total Stock	Pair Corr
1.0	VFINX	Vanguard 500 Index	Pair Corr
1.0	VFFSX	Vanguard 500 Index	Pair Corr
1.0	VINIX	Vanguard Institutional	Pair Corr
1.0	VIIIX	Vanguard Institutional	Pair Corr
0.89	KMKCX	Kinetics Market Oppo	Pair Corr
0.91	KSCYX	Kinetics Small Cap	Pair Corr
0.9	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.68	LETRX	Voya Russia Fund	Pair Corr
0.9	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.9	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.91	KSOCX	Kinetics Small Cap	Pair Corr
0.88	KINCX	Kinetics Internet	Pair Corr
0.91	KSCOX	Kinetics Small Cap	Pair Corr
0.9	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.65	FCWRX	Templeton China World	Pair Corr
0.86	AMECX	Income Fund	Pair Corr
0.95	IMOPX	Voya Midcap Opportunities	Pair Corr
1.0	SWPPX	Schwab Sp 500	Pair Corr
0.96	TRLCX	Tiaa-cref Large-cap	Pair Corr
0.82	JPYRX	Jpmorgan Smartretirement	Pair Corr
0.95	WCPSX	Mobile Telecommunicatio	Pair Corr
0.69	PFN	Pimco Income Strategy	Pair Corr
0.97	AMGOX	Alger Mid Cap	Pair Corr
0.99	CSQ	Calamos Strategic Total	Pair Corr
0.99	RGRYX	Victory Rs Growth	Pair Corr
0.99	LGWIX	Ladenburg Growth	Pair Corr
0.92	BALFX	American Balanced	Pair Corr

Related Correlations Analysis

	JDJRX	MDSKX	SIGWX	PHJFX	GABSX	TSMMX	DTICX
JDJRX		-0.25	-0.25	0.63	0.49	-0.25	0.45	JDJRX
MDSKX	-0.25		0.99	0.38	0.5	0.99	-0.31	MDSKX
SIGWX	-0.25	0.99		0.4	0.5	0.98	-0.28	SIGWX
PHJFX	0.63	0.38	0.4		0.8	0.38	0.51	PHJFX
GABSX	0.49	0.5	0.5	0.8		0.48	0.11	GABSX
TSMMX	-0.25	0.99	0.98	0.38	0.48		-0.31	TSMMX
DTICX	0.45	-0.31	-0.28	0.51	0.11	-0.31		DTICX
	JDJRX	MDSKX	SIGWX	PHJFX	GABSX	TSMMX	DTICX

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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

SIGWX	+ 0.99	MDSKX
TSMMX	+ 0.99	MDSKX
TSMMX	+ 0.98	SIGWX
GABSX	+ 0.8	PHJFX
PHJFX	+ 0.63	JDJRX
DTICX	+ 0.51	PHJFX

High negative correlations

DTICX	- 0.31	TSMMX
DTICX	- 0.31	MDSKX
DTICX	- 0.28	SIGWX
TSMMX	- 0.25	JDJRX
SIGWX	- 0.25	JDJRX
MDSKX	- 0.25	JDJRX

Risk-Adjusted Indicators

There is a big difference between Dana Mutual Fund performing well and Dana Epiphany 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 Dana Epiphany'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
JDJRX	0.44	(0.07)	0.00	(0.06)	0.00	0.00	1.00	(0.89)	2.54
MDSKX	0.92	(0.03)	0.03	0.11	0.91	(0.97)	2.08	(1.62)	7.61
SIGWX	0.74	(0.03)	0.00	0.11	0.83	(0.84)	1.53	(1.38)	7.02
PHJFX	0.23	(0.02)	(0.35)	0.06	0.22	(0.26)	0.47	(0.56)	1.22
GABSX	0.84	(0.12)	(0.05)	0.04	1.46	(0.81)	1.68	(1.35)	8.80
TSMMX	0.76	0.03	0.06	0.15	0.78	(0.86)	1.74	(1.44)	5.61
DTICX	0.08	0.00	(0.80)	0.08	0.00	(0.15)	0.13	(0.13)	0.64

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