Destinations Equity Correlations

Mutual Funds . USA . 
Fund . Destinations Equity Income
DGEZX Fund  USD 13.16  0.01  0.08%   
The current 90-days correlation between Destinations Equity and Destinations International Equity is 0.78 (i.e., Poor diversification). The correlation of Destinations Equity 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.

Destinations Equity Correlation With Market

Very poor diversification

The correlation between Destinations Equity Income and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Destinations Equity Income 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 Destinations Equity Income. 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 Destinations Mutual Fund

  0.98DIEZX Destinations InternationalPairCorr
  0.98DIEFX Destinations InternationalPairCorr
  0.99DLCFX Destinations Large CapPairCorr
  0.95DLDFX Destinations Low DurationPairCorr
  0.99DLCZX Destinations Large CapPairCorr
  0.95DLDZX Destinations Low DurationPairCorr
  0.9DMFFX Destinations MunicipalPairCorr
  0.89DMFZX Destinations MunicipalPairCorr
  0.98DMSFX Destinations MultiPairCorr
  0.98DMSZX Destinations MultiPairCorr
  0.96DRAFX Destinations Real AssetsPairCorr
  0.98DSHZX Brinker Capital DestPairCorr
  0.98DSHFX Brinker Capital DestPairCorr
  0.99DSMFX Destinations Small MidPairCorr
  0.99DSMZX Destinations Small MidPairCorr
  0.68DCFFX Destinations Core FixedPairCorr
  0.67DCFZX Destinations Core FixedPairCorr
  1.0DGEFX Destinations EquityPairCorr
  0.98DGFZX Destinations Global FixedPairCorr
  0.98DGFFX Destinations Global FixedPairCorr
  0.99TEDRX Franklin Mutual GlobalPairCorr
  0.99FMDRX Franklin Mutual GlobalPairCorr
  0.99DOXWX Dodge Cox GlobalPairCorr
  0.99DODWX Dodge Global StockPairCorr
  0.96TRZRX T Rowe PricePairCorr
  0.99TEDIX Franklin Mutual GlobalPairCorr
  0.99MDISX Franklin Mutual GlobalPairCorr
  0.99TEDSX Franklin Mutual GlobalPairCorr
  0.96PRAFX T Rowe PricePairCorr
  0.99BEGRX Franklin Mutual BeaconPairCorr
  0.95PDI Pimco Dynamic IncomePairCorr
  0.94FTCAX Templeton Strained BondPairCorr

Moving against Destinations Mutual Fund

  0.97USPSX Profunds UltrashortPairCorr
  0.97USPIX Profunds UltrashortPairCorr
  0.96UIPIX Ultrashort Mid CapPairCorr
  0.82TCTGX Transamerica CleartrackPairCorr
  0.82TCTJX Transamerica CleartrackPairCorr
  0.81TDKTX Cleartrack 2015 ClassPairCorr
  0.79TCSUX Cleartrack 2020 ClassPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Destinations Mutual Fund performing well and Destinations Equity 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 Destinations Equity'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
DIEZX  0.48  0.15  0.11  0.48  0.19 
(0.57)
 1.31 
(0.81)
 3.02 
DIEFX  0.48  0.14  0.11  0.47  0.20 
(0.58)
 1.27 
(0.83)
 3.01 
DLCFX  0.75  0.10  0.08  0.23  0.81 
(0.85)
 2.13 
(1.86)
 6.63 
DLDFX  0.07  0.02 (0.93) 0.86  0.00 
(0.12)
 0.11 
(0.11)
 0.33 
DLCZX  0.66  0.12  0.09  0.29  0.51 
(0.82)
 1.95 
(1.25)
 5.79 
DLDZX  0.07  0.02 (0.92) 1.39  0.00 
(0.12)
 0.21 
(0.10)
 0.32 
DMFFX  0.10  0.00 (0.67) 0.13  0.02 
(0.14)
 0.21 
(0.11)
 0.75 
DMFZX  0.11  0.00 (0.77) 0.34  0.00 
(0.14)
 0.21 
(0.21)
 0.75 
DMSFX  0.15  0.03 (0.32) 0.29  0.00 
(0.20)
 0.40 
(0.29)
 1.09 
DMSZX  0.15  0.03 (0.38) 0.32  0.00 
(0.20)
 0.41 
(0.30)
 0.92 

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