Davis Real Correlations

RPFRX Fund

USD 41.70 0.51 1.21%

The current 90-days correlation between Davis Real Estate and Davis International Fund is 0.38 (i.e., Weak diversification). The correlation of Davis Real 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 Real Correlation With Market

Very weak diversification

The correlation between Davis Real Estate and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis Real Estate 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 Real Estate. 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 metropolitan statistical area.

Moving together with Davis Mutual Fund

0.7	FR	First Industrial Realty	Pair Corr
0.67	MITT-PB	AG Mortgage Investment	Pair Corr
0.61	EPRT	Essential Properties	Pair Corr
0.64	WELL	Welltower	Pair Corr

Moving against Davis Mutual Fund

0.44	PW	Power REIT Earnings Call This Week	Pair Corr
0.4	WETH	Wetouch Technology Common	Pair Corr
0.41	WHLR	Wheeler Real Estate	Pair Corr
0.31	FISK	Empire State Realty	Pair Corr

Related Correlations Analysis

	DILCX	DILAX	DRECX	DILYX	NYVCX	NYVBX	NYVRX	NYVTX	RPFGX
DILCX		0.92	0.48	1.0	0.27	0.27	0.16	0.29	0.26	DILCX
DILAX	0.92		0.45	0.92	0.27	0.26	0.27	0.28	0.26	DILAX
DRECX	0.48	0.45		0.48	0.55	0.55	0.43	0.56	0.63	DRECX
DILYX	1.0	0.92	0.48		0.27	0.27	0.16	0.29	0.26	DILYX
NYVCX	0.27	0.27	0.55	0.27		1.0	0.93	1.0	0.96	NYVCX
NYVBX	0.27	0.26	0.55	0.27	1.0		0.93	1.0	0.96	NYVBX
NYVRX	0.16	0.27	0.43	0.16	0.93	0.93		0.93	0.89	NYVRX
NYVTX	0.29	0.28	0.56	0.29	1.0	1.0	0.93		0.96	NYVTX
RPFGX	0.26	0.26	0.63	0.26	0.96	0.96	0.89	0.96		RPFGX
	DILCX	DILAX	DRECX	DILYX	NYVCX	NYVBX	NYVRX	NYVTX	RPFGX

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Risk-Adjusted Indicators

There is a big difference between Davis Mutual Fund performing well and Davis Real 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 Real'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
DILCX	1.04	0.15	0.13	0.16	1.17	(1.12)	2.28	(1.80)	8.49
DILAX	1.06	0.15	0.13	0.17	1.22	(1.14)	2.32	(1.81)	8.53
DRECX	0.94	0.01	0.00	(0.06)	0.00	0.00	1.62	(2.02)	3.94
DILYX	1.06	0.15	0.13	0.17	1.19	(1.14)	2.35	(1.76)	8.41
NYVCX	0.69	0.08	0.10	0.04	0.87	(0.75)	1.61	(1.48)	4.28
NYVBX	0.70	0.07	0.10	0.03	0.89	(0.76)	1.59	(1.51)	4.27
NYVRX	0.68	0.02	0.10	(0.33)	0.87	(0.75)	1.60	(1.50)	4.25
NYVTX	0.70	0.08	0.10	0.03	0.88	(0.76)	1.61	(1.50)	4.26
RPFGX	0.81	0.11	0.09	0.05	1.13	(0.81)	1.66	(1.43)	6.45

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