Davis Government Correlations

Mutual Funds USA . 
Fund . Davis Government Bond
DGVCX Fund  USD 5.15  0.01  0.19%   
The current 90-days correlation between Davis Government Bond and Davis International Fund is -0.01 (i.e., Good diversification). The correlation of Davis Government 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 Government Correlation With Market

Modest diversification

The correlation between Davis Government Bond and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis Government Bond 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 Government Bond. 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

  0.7DILCX Davis InternationalPairCorr
  0.71DILAX Davis InternationalPairCorr
  0.71DILYX Davis InternationalPairCorr
  0.77RPFGX Davis FinancialPairCorr
  0.79RPFCX Davis Appreciation IncomePairCorr
  0.68RPFRX Davis Real EstatePairCorr
  0.8RPEAX Davis OpportunityPairCorr
  0.8DNVYX Davis New YorkPairCorr
  0.98RFBAX Davis Government BondPairCorr
  0.68DREYX Davis Real EstatePairCorr
  0.66DRECX Davis Real EstatePairCorr
  0.79NYVCX Davis New YorkPairCorr
  0.79NYVBX Davis New YorkPairCorr
  0.8NYVRX Davis New YorkPairCorr
  0.8NYVTX Davis New YorkPairCorr
  0.79DCSCX Davis Appreciation IncomePairCorr
  0.8DCSYX Davis Appreciation IncomePairCorr
  0.77DVFYX Davis FinancialPairCorr
  0.77DFFCX Davis FinancialPairCorr
  0.73DGFCX Davis GlobalPairCorr
  0.73DGFAX Davis GlobalPairCorr
  0.73DGFYX Davis GlobalPairCorr
  0.8DGOCX Davis OpportunityPairCorr
  0.8DGOYX Davis OpportunityPairCorr
  0.98DGVYX Davis Government BondPairCorr
  0.96EASDX Eaton Vance ShortPairCorr
  0.96VFIRX Vanguard Short TermPairCorr
  0.96VFISX Vanguard Short TermPairCorr
  0.97VSGBX Vanguard Short TermPairCorr
  0.94VSBIX Vanguard Short TermPairCorr
  0.98VSGDX Vanguard Short TermPairCorr
  0.94FUMBX Fidelity Short TermPairCorr
  0.97ECLDX Eaton Vance ShortPairCorr
  0.97EALDX Eaton Vance ShortPairCorr
  0.96EILDX Eaton Vance ShortPairCorr

Moving against Davis Mutual Fund

  0.7USPSX Profunds UltrashortPairCorr
  0.7USPIX Profunds UltrashortPairCorr
  0.67UIPIX Ultrashort Mid CapPairCorr
  0.64TCSUX Cleartrack 2020 ClassPairCorr
  0.61TCTGX Transamerica CleartrackPairCorr
  0.61TCTJX Transamerica CleartrackPairCorr
  0.6TDKTX Cleartrack 2015 ClassPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Davis Mutual Fund performing well and Davis Government 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 Government'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  0.52  0.03 (0.01) 0.18  0.45 
(0.59)
 1.48 
(0.92)
 3.91 
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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