Davis New Correlations

Mutual Funds . USA . 
Fund . Davis New York
DNVYX Fund  USD 27.77  0.02  0.07%   
The current 90-days correlation between Davis New York and Davis International Fund is -0.1 (i.e., Good diversification). The correlation of Davis New 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 New Correlation With Market

Very poor diversification

The correlation between Davis New York and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis New York 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 New York. 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 manufacturing.

Moving together with Davis Mutual Fund

  0.96DILCX Davis InternationalPairCorr
  0.96DILAX Davis InternationalPairCorr
  0.98RPFCX Davis Appreciation IncomePairCorr
  0.83RPFRX Davis Real EstatePairCorr
  0.81RFBAX Davis Government BondPairCorr
  0.84DREYX Davis Real EstatePairCorr
  0.98NYVCX Davis New YorkPairCorr
  1.0NYVBX Davis New YorkPairCorr
  1.0NYVRX Davis New YorkPairCorr
  0.98NYVTX Davis New YorkPairCorr
  0.97DVFYX Davis FinancialPairCorr
  0.99DFFCX Davis FinancialPairCorr
  0.97DGFAX Davis GlobalPairCorr
  0.98DGFYX Davis GlobalPairCorr
  1.0DGOCX Davis OpportunityPairCorr
  0.99VVIAX Vanguard Value IndexPairCorr
  0.99DOXGX Dodge Cox StockPairCorr
  0.98AFMFX American MutualPairCorr
  0.98FFMMX American Funds AmericanPairCorr
  0.98FFFMX American Funds AmericanPairCorr
  0.96AMRMX American MutualPairCorr
  0.96AMFFX American MutualPairCorr
  0.96AMFCX American MutualPairCorr
  0.99DODGX Dodge Stock FundPairCorr
  0.99VIVAX Vanguard Value IndexPairCorr
  0.78NHS Neuberger Berman HighPairCorr
  0.93FSMBX Tributary Smallmid CapPairCorr
  0.99LTTKX Mfs Lifetime 2025PairCorr
  0.96HFLYX Hartford FloatingPairCorr
  0.99CLREX Columbia BalancedPairCorr
  0.93MINJX Mfs International ValuePairCorr
  0.94CLM Cornerstone StrategicPairCorr
  0.68BCPAX Brandes E PlusPairCorr
  0.98TEMUX Emerging Markets EquityPairCorr
  0.95DPRRX Delaware ReitPairCorr
  0.99RBITX American Funds 2050PairCorr
  0.94TEIMX T Rowe PricePairCorr
  0.99QIBGX Federated Mdt BalancedPairCorr
  0.97GCMDX Goldman Sachs LocalPairCorr

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 New 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 New'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  0.29  0.20 (8.58) 0.25 
(0.90)
 1.98 
(1.28)
 4.52 
DILAX  0.71  0.29  0.20 (8.95) 0.25 
(0.86)
 1.98 
(1.24)
 4.50 
DILYX  0.71  0.21  0.20  0.54  0.27 
(0.88)
 2.00 
(1.26)
 4.55 
RPFGX  0.72  0.28  0.14 (2.72) 0.57 
(0.84)
 1.80 
(1.33)
 5.12 
RPFCX  0.52  0.13 (0.01)(3.93) 0.45 
(0.59)
 1.48 
(0.92)
 3.91 
RPFRX  0.65  0.09 (0.06)(0.58) 0.88 
(0.64)
 1.59 
(1.44)
 4.50 
RPEAX  0.70  0.20  0.06 (2.73) 0.61 
(0.74)
 2.12 
(1.24)
 5.47 
DNVYX  0.69  0.09  0.10  0.23  0.45 
(0.74)
 2.06 
(1.23)
 5.78 
RFBAX  0.09  0.01 (0.64)(0.28) 0.00 
(0.22)
 0.20 
(0.20)
 0.78 
DREYX  0.65 (0.01)(0.06) 0.12  0.88 
(0.64)
 1.62 
(1.45)
 4.49 

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