Destra International Correlations

CEDLX Fund  USD 22.04  0.04  0.18%   
The current 90-days correlation between Destra International and Vanguard Total Stock is -0.19 (i.e., Good diversification). The correlation of Destra International 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.

Destra International Correlation With Market

Good diversification

The correlation between Destra International Event Dri and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Destra International Event Dri and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Destra International Event Driven. 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 bureau of economic analysis.

Moving together with Destra Mutual Fund

  0.62VTSAX Vanguard Total StockPairCorr
  0.62VFIAX Vanguard 500 IndexPairCorr
  0.62VTSMX Vanguard Total StockPairCorr
  0.62VITSX Vanguard Total StockPairCorr
  0.62VSTSX Vanguard Total StockPairCorr
  0.62VSMPX Vanguard Total StockPairCorr
  0.62VFINX Vanguard 500 IndexPairCorr
  0.62VFFSX Vanguard 500 IndexPairCorr
  0.76VGTSX Vanguard Total InterPairCorr
  0.62VTIAX Vanguard Total InterPairCorr
  0.75PFE Pfizer IncPairCorr
  0.63XOM Exxon Mobil CorpPairCorr
  0.67AA Alcoa CorpPairCorr
  0.77DD Dupont De NemoursPairCorr
  0.76CSCO Cisco SystemsPairCorr
  0.74IBM International Business Earnings Call This WeekPairCorr
  0.71DIS Walt DisneyPairCorr
  0.81CVX Chevron CorpPairCorr
  0.86CAT CaterpillarPairCorr
  0.75BA BoeingPairCorr
  0.79MSFT MicrosoftPairCorr

Moving against Destra Mutual Fund

  0.52VZ Verizon Communications Earnings Call This WeekPairCorr
  0.51KO Coca Cola Earnings Call This WeekPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Destra Mutual Fund performing well and Destra International 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 Destra International'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VTSAX  0.62  0.24  0.28  0.48  0.00 
 2.07 
 5.05 
VFIAX  0.60  0.23  0.30  0.44  0.00 
 2.02 
 4.88 
VTSMX  0.62  0.23  0.29  0.46  0.00 
 2.08 
 5.04 
VITSX  0.62  0.23  0.28  0.46  0.00 
 2.07 
 5.05 
VSTSX  0.62  0.23  0.29  0.43  0.00 
 2.08 
 5.04 
VSMPX  0.62  0.23  0.29  0.46  0.00 
 2.08 
 5.04 
VFINX  0.61  0.23  0.30  0.46  0.00 
 2.02 
 4.88 
VFFSX  0.60  0.23  0.30  0.44  0.00 
 2.02 
 4.88 
VGTSX  0.47  0.23  0.14 (4.35) 0.08 
 1.31 
 3.09 
VTIAX  0.45  0.14  0.10  0.47  0.22 
 1.35 
 3.10