Davis Government Correlations

RFBAX Fund

USD 5.14 0.01 0.19%

The current 90-days correlation between Davis Government Bond and Ab Bond Inflation is 0.12 (i.e., Average diversification). The correlation of Davis Government 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 Government Correlation With Market

Significant diversification

The correlation between Davis Government Bond and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis Government Bond and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Davis Government Bond. 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 nation.

Moving together with Davis Mutual Fund

0.66	DGVCX	Davis Government Bond	Pair Corr
0.67	DGVYX	Davis Government Bond	Pair Corr
0.7	EASDX	Eaton Vance Short	Pair Corr
0.88	VFISX	Vanguard Short Term	Pair Corr
0.89	VSGBX	Vanguard Short Term	Pair Corr
0.89	VSBIX	Vanguard Short Term	Pair Corr
0.98	VSGDX	Vanguard Short Term	Pair Corr
0.7	ECLDX	Eaton Vance Short	Pair Corr
0.89	EILDX	Eaton Vance Short	Pair Corr
0.77	DBIWX	Dws Global Macro	Pair Corr
0.84	DLDFX	Destinations Low Duration	Pair Corr
0.96	ARBOX	Absolute Convertible	Pair Corr
0.81	SGDLX	Sprott Gold Equity	Pair Corr
0.89	GF	New Germany Closed	Pair Corr
0.89	BISMX	Brandes International	Pair Corr
0.88	HRBDX	Harbor Bond Fund	Pair Corr
0.97	PSDNX	Putnam Ultra Short	Pair Corr
0.86	UTF	Cohen And Steers	Pair Corr
0.87	EMBAX	Unconstrained Emerging	Pair Corr
0.89	USGDX	Morgan Stanley Government	Pair Corr

Moving against Davis Mutual Fund

0.72	RYCCX	Nasdaq 100 2x	Pair Corr
0.68	RYVLX	Nasdaq 100 2x	Pair Corr
0.68	RYVYX	Nasdaq 100 2x	Pair Corr
0.51	UOPIX	Ultra Nasdaq 100	Pair Corr
0.69	UOPSX	Ultranasdaq 100 Profund	Pair Corr
0.56	INPSX	Internet Ultrasector	Pair Corr
0.38	BIPIX	Biotechnology Ultrasector	Pair Corr

Related Correlations Analysis

	ANBIX	HIPAX	PFRMX	ABNCX	DIPSX	ABNAX	QCILIX
ANBIX		0.91	0.88	0.91	0.99	1.0	1.0	ANBIX
HIPAX	0.91		0.97	1.0	0.91	0.91	0.91	HIPAX
PFRMX	0.88	0.97		0.96	0.88	0.88	0.88	PFRMX
ABNCX	0.91	1.0	0.96		0.91	0.91	0.92	ABNCX
DIPSX	0.99	0.91	0.88	0.91		0.99	1.0	DIPSX
ABNAX	1.0	0.91	0.88	0.91	0.99		1.0	ABNAX
QCILIX	1.0	0.91	0.88	0.92	1.0	1.0		QCILIX
	ANBIX	HIPAX	PFRMX	ABNCX	DIPSX	ABNAX	QCILIX

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Risk-Adjusted Indicators

There is a big difference between Davis Mutual Fund performing well and Davis Government 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 Government'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ANBIX	0.15	0.04	0.39	1.62	(0.21)	0.39	(0.29)	0.98
HIPAX	0.14	0.04	0.33	1.73	(0.21)	0.30	(0.20)	0.99
PFRMX	0.20	0.07	0.51	2.34	(0.31)	0.48	(0.24)	1.34
ABNCX	0.15	0.04	0.42	1.64	(0.20)	0.30	(0.29)	0.90
DIPSX	0.20	0.05	0.32	1.62	(0.27)	0.46	(0.28)	1.19
ABNAX	0.15	0.05	0.44	1.52	(0.20)	0.38	(0.28)	0.97
QCILIX	0.14	0.04	0.42	2.48	(0.16)	0.32	(0.26)	0.94

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