Dfa California Correlations

DCARX Fund

USD 10.73 0.01 0.09%

The current 90-days correlation between Dfa California Municipal and World Core Equity is 0.25 (i.e., Modest diversification). The correlation of Dfa California 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.

Dfa California Correlation With Market

Average diversification

The correlation between Dfa California Municipal and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dfa California Municipal 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 Dfa California Municipal. 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 real.

Moving together with Dfa Mutual Fund

0.64	DISMX	Dfa International	Pair Corr
0.65	DMNBX	Dfa Mn Municipal	Pair Corr
0.94	DMREX	Dfa Municipal Real	Pair Corr

Moving against Dfa Mutual Fund

0.61	DAADX	Dfa Emerging Markets	Pair Corr
0.48	DOGMX	Dfa Oregon Municipal	Pair Corr
0.45	DNYMX	Dfa Ny Municipal	Pair Corr
0.45	DRIJX	Dimensional 2050 Target	Pair Corr
0.44	DRIHX	Dimensional 2040 Target	Pair Corr
0.43	DRIIX	Dimensional 2045 Target	Pair Corr
0.42	DRIGX	Dimensional 2035 Target	Pair Corr
0.41	DRILX	Dimensional 2060 Target	Pair Corr
0.41	DRIKX	Dimensional 2055 Target	Pair Corr
0.39	DIHRX	Intal High Relative	Pair Corr
0.38	DRIWX	Dimensional 2030 Target	Pair Corr
0.35	DRIUX	Dimensional 2025 Target	Pair Corr
0.34	DRIRX	Dimensional 2020 Target	Pair Corr
0.34	DRIQX	Dimensional 2015 Target	Pair Corr
0.32	DREIX	World Core Equity	Pair Corr
0.67	DTCPX	Dfa Targeted Credit	Pair Corr
0.64	DCMSX	Dfa Commodity Strategy	Pair Corr
0.64	DWFIX	Dfa World Ex	Pair Corr
0.61	DSSMX	Dfa Selective State	Pair Corr
0.55	DCIBX	Dfa Ca Int	Pair Corr
0.45	DSFIX	Dfa Social Fixed	Pair Corr
0.45	DTDRX	Dimensional 2065 Target	Pair Corr
0.43	DUSQX	Us Lg Cap	Pair Corr
0.42	DFAPX	Dfa Investment Grade	Pair Corr
0.41	DSHGX	Dfa Selectively Hedged	Pair Corr
0.36	DFALX	Large Cap International	Pair Corr

Related Correlations Analysis

	DREIX	DILRX	DRIIX	DRIHX	DRIGX	DRIWX	DRIUX	DRIRX	DRIQX
DREIX		0.78	0.99	0.95	0.88	0.78	0.75	0.8	0.86	DREIX
DILRX	0.78		0.77	0.81	0.82	0.74	0.78	0.79	0.8	DILRX
DRIIX	0.99	0.77		0.97	0.91	0.82	0.79	0.83	0.88	DRIIX
DRIHX	0.95	0.81	0.97		0.98	0.9	0.91	0.93	0.95	DRIHX
DRIGX	0.88	0.82	0.91	0.98		0.92	0.97	0.98	0.98	DRIGX
DRIWX	0.78	0.74	0.82	0.9	0.92		0.88	0.89	0.87	DRIWX
DRIUX	0.75	0.78	0.79	0.91	0.97	0.88		0.99	0.97	DRIUX
DRIRX	0.8	0.79	0.83	0.93	0.98	0.89	0.99		0.99	DRIRX
DRIQX	0.86	0.8	0.88	0.95	0.98	0.87	0.97	0.99		DRIQX
	DREIX	DILRX	DRIIX	DRIHX	DRIGX	DRIWX	DRIUX	DRIRX	DRIQX

Risk-Adjusted Indicators

There is a big difference between Dfa Mutual Fund performing well and Dfa California 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 Dfa California'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
DREIX	0.49	0.01	0.00	0.08	0.71	(0.47)	1.10	(1.16)	3.48
DILRX	0.62	0.00	(0.02)	0.07	0.77	(0.62)	1.16	(1.27)	2.96
DRIIX	0.39	0.02	(0.01)	0.09	0.55	(0.38)	0.87	(0.90)	2.65
DRIHX	0.33	0.02	(0.03)	0.10	0.35	(0.36)	0.81	(0.74)	2.14
DRIGX	0.31	0.01	(0.06)	0.10	0.31	(0.36)	0.75	(0.68)	1.99
DRIWX	0.29	0.04	(0.06)	0.38	0.22	(0.36)	0.64	(0.48)	1.74
DRIUX	0.23	0.00	(0.17)	0.09	0.20	(0.27)	0.52	(0.51)	1.30
DRIRX	0.20	0.00	(0.21)	0.08	0.14	(0.27)	0.43	(0.34)	1.12
DRIQX	0.17	0.00	(0.21)	0.06	0.14	(0.21)	0.34	(0.34)	1.02

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