Davis Financial Correlations

Mutual Funds . USA . 
Fund . Davis Financial Fund
RPFGX Fund  USD 66.98  1.02  1.55%   
The correlation of Davis Financial 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 Financial Correlation With Market

Poor diversification

The correlation between Davis Financial Fund and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis Financial Fund 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 Financial Fund. 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 price.

Moving together with Davis Mutual Fund

  0.83RPFCX Davis Appreciation IncomePairCorr
  0.65RPFRX Davis Real EstatePairCorr
  0.94RPEAX Davis OpportunityPairCorr
  0.89DNVYX Davis New YorkPairCorr
  0.65DREYX Davis Real EstatePairCorr
  0.65DRECX Davis Real EstatePairCorr
  0.88NYVCX Davis New YorkPairCorr
  0.96NYVBX Davis New YorkPairCorr
  0.96NYVRX Davis New YorkPairCorr
  0.89NYVTX Davis New YorkPairCorr
  0.83DCSCX Davis Appreciation IncomePairCorr
  0.87DCSYX Davis Appreciation IncomePairCorr
  0.94DVFYX Davis FinancialPairCorr
  0.92DFFCX Davis FinancialPairCorr
  0.65DGFCX Davis GlobalPairCorr
  0.62DGFAX Davis GlobalPairCorr
  0.87DGOCX Davis OpportunityPairCorr
  0.94DGOYX Davis OpportunityPairCorr
  0.87VFAIX Vanguard Financials IndexPairCorr
  0.72FRBCX Regional BankPairCorr
  0.64JRGRX Regional BankPairCorr
  0.91PRISX T Rowe PricePairCorr
  0.65JFDRX Financial IndustriesPairCorr
  0.84TFIFX T Rowe PricePairCorr
  0.74DBICX Deutsche Global MacroPairCorr

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   
FIKBX
+ 0.95
SBFAX
SBFAX
+ 0.61
XFINX
SBFAX
+ 0.57
GCFSX
FIKBX
+ 0.55
XFINX
FIKBX
+ 0.38
GCFSX
GCFSX
+ 0.31
XFINX
  
High negative correlations   
FIKBX
- 0.0
AEYXX
SBFAX
- 0.0
AEYXX
GCFSX
- 0.0
AEYXX
XFINX
- 0.0
AEYXX

Risk-Adjusted Indicators

There is a big difference between Davis Mutual Fund performing well and Davis Financial 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 Financial'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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