Dana Large Correlations

Mutual Funds . USA . 
Fund . Dana Large Cap
DLCIX Fund  USD 23.56  0.18  0.77%   
The current 90-days correlation between Dana Large Cap and Vanguard Total Stock is -0.03 (i.e., Good diversification). The correlation of Dana Large 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.

Dana Large Correlation With Market

Almost no diversification

The correlation between Dana Large Cap and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dana Large Cap 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 Dana Large Cap. 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 gross domestic product.

Moving together with Dana Mutual Fund

  0.98VTSAX Vanguard Total StockPairCorr
  1.0VFIAX Vanguard 500 IndexPairCorr
  0.98VTSMX Vanguard Total StockPairCorr
  1.0VITSX Vanguard Total StockPairCorr
  0.98VSMPX Vanguard Total StockPairCorr
  0.98VSTSX Vanguard Total StockPairCorr
  1.0VFINX Vanguard 500 IndexPairCorr
  0.98VFFSX Vanguard 500 IndexPairCorr
  1.0VINIX Vanguard InstitutionalPairCorr
  1.0VIIIX Vanguard InstitutionalPairCorr
  0.98SMPIX Semiconductor UltrasectorPairCorr
  0.97LEQCX Locorr Dynamic EquityPairCorr
  0.97DNHYX Dunham High YieldPairCorr
  0.61ETGLX Eventide GileadPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Dana Mutual Fund performing well and Dana Large 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 Dana Large'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  0.63  0.31  0.08 (1.71) 0.33 
(0.73)
 2.07 
(0.83)
 5.05 
VFIAX  0.62  0.09  0.09  0.31  0.33 
(0.73)
 2.02 
(0.83)
 4.88 
VTSMX  0.63  0.31  0.08 (1.52) 0.35 
(0.72)
 2.08 
(0.83)
 5.04 
VITSX  0.63  0.09  0.09  0.30  0.36 
(0.73)
 2.07 
(0.84)
 5.05 
VSMPX  0.63  0.31  0.08 (1.52) 0.35 
(0.72)
 2.08 
(0.83)
 5.04 
VSTSX  0.63  0.31  0.08 (1.53) 0.35 
(0.70)
 2.08 
(0.83)
 5.04 
VFINX  0.63  0.10  0.09  0.32  0.31 
(0.75)
 2.02 
(0.83)
 4.88 
VFFSX  0.61  0.31  0.08 (1.60) 0.34 
(0.69)
 2.02 
(0.83)
 4.88 
VINIX  0.62  0.09  0.09  0.31  0.33 
(0.74)
 2.03 
(0.83)
 4.88 
VIIIX  0.62  0.09  0.09  0.31  0.33 
(0.72)
 2.03 
(0.83)
 4.88 

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