Davis Global Correlations

Mutual Funds . USA . 
Fund . Davis Global Fund
DGFCX Fund  USD 28.12  0.05  0.18%   
The current 90-days correlation between Davis Global and Davis International Fund is 0.92 (i.e., Almost no diversification). The correlation of Davis Global 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 Global Correlation With Market

Poor diversification

The correlation between Davis Global Fund and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis Global Fund 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 Davis Global 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 main economic indicators.

Moving together with Davis Mutual Fund

  1.0DILCX Davis InternationalPairCorr
  1.0DILAX Davis InternationalPairCorr
  1.0DILYX Davis InternationalPairCorr
  0.98RPFGX Davis FinancialPairCorr
  0.66RPFCX Davis Appreciation IncomePairCorr
  0.84RPFRX Davis Real EstatePairCorr
  0.98RPEAX Davis OpportunityPairCorr
  0.98DNVYX Davis New YorkPairCorr
  0.75RFBAX Davis Government BondPairCorr
  0.85DREYX Davis Real EstatePairCorr
  0.83DRECX Davis Real EstatePairCorr
  0.98NYVCX Davis New YorkPairCorr
  0.98NYVBX Davis New YorkPairCorr
  0.98NYVRX Davis New YorkPairCorr
  0.98NYVTX Davis New YorkPairCorr
  0.98DCSCX Davis Appreciation IncomePairCorr
  0.98DCSYX Davis Appreciation IncomePairCorr
  0.98DVFYX Davis FinancialPairCorr
  0.98DFFCX Davis FinancialPairCorr
  1.0DGFAX Davis GlobalPairCorr
  0.62DGFYX Davis GlobalPairCorr
  0.98DGOCX Davis OpportunityPairCorr
  0.98DGOYX Davis OpportunityPairCorr
  0.73DGVCX Davis Government BondPairCorr
  0.75DGVYX Davis Government BondPairCorr
  0.99FCWGX American Funds CapitalPairCorr
  0.99FWCGX American Funds CapitalPairCorr
  0.99CWGIX Capital World GrowthPairCorr
  0.99CWGFX Capital World GrowthPairCorr
  0.99CWGCX Capital World GrowthPairCorr
  0.99RWIFX Capital World GrowthPairCorr
  0.99CWICX Capital World GrowthPairCorr
  0.99RWIAX Capital World GrowthPairCorr
  0.99CWIAX Capital World GrowthPairCorr
  0.99WGIFX Capital World GrowthPairCorr
  0.99VSTSX Vanguard Total StockPairCorr
  0.99VSMPX Vanguard Total StockPairCorr
  0.99VITSX Vanguard Total StockPairCorr
  0.99VFFSX Vanguard 500 IndexPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Davis Mutual Fund performing well and Davis Global 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 Global'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
DILCX  0.71  0.22  0.21  0.56  0.25 
(0.90)
 1.98 
(1.28)
 4.52 
DILAX  0.71  0.22  0.21  0.56  0.25 
(0.86)
 1.98 
(1.24)
 4.50 
DILYX  0.71  0.22  0.21  0.56  0.26 
(0.88)
 2.00 
(1.26)
 4.55 
RPFGX  0.72  0.15  0.15  0.30  0.57 
(0.84)
 1.80 
(1.33)
 5.12 
RPFCX  0.47  0.14  0.02  5.85  0.34 
(0.56)
 1.39 
(0.84)
 3.81 
RPFRX  0.65 (0.01)(0.06) 0.12  0.88 
(0.64)
 1.59 
(1.44)
 4.50 
RPEAX  0.70  0.07  0.06  0.20  0.61 
(0.74)
 2.12 
(1.24)
 5.47 
DNVYX  0.69  0.09  0.10  0.23  0.46 
(0.76)
 2.06 
(1.23)
 5.78 
RFBAX  0.09  0.00 (0.61) 0.26  0.00 
(0.22)
 0.20 
(0.20)
 0.78 
DREYX  0.65  0.00 (0.05) 0.12  0.88 
(0.64)
 1.62 
(1.45)
 4.49 

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