Davis Real Correlations

Mutual Funds . USA . 
Fund . Davis Real Estate
DREYX Fund  USD 41.78  0.01  0.02%   
The current 90-days correlation between Davis Real Estate and Vanguard Reit Index is 0.98 (i.e., Almost no diversification). The correlation of Davis Real 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 Real Correlation With Market

Very poor diversification

The correlation between Davis Real Estate and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis Real Estate 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 Real Estate. 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

  0.72O Realty IncomePairCorr
  0.81DX Dynex Capital Earnings Call This WeekPairCorr
  0.88FR First Industrial Realty Earnings Call TomorrowPairCorr
  0.8OZ Belpointe PREP LLCPairCorr
  0.75PK Park Hotels ResortsPairCorr
  0.92UE Urban Edge PropertiesPairCorr
  0.67WY WeyerhaeuserPairCorr
  0.73AHT-PH Ashford Hospitality TrustPairCorr
  0.74AHT-PI Ashford Hospitality TrustPairCorr
  0.84AHT-PD Ashford Hospitality TrustPairCorr
  0.76AHT-PF Ashford Hospitality TrustPairCorr
  0.81AHT-PG Ashford Hospitality TrustPairCorr
  0.65DOUG Douglas EllimanPairCorr
  0.92VNO-PL Vornado Realty TrustPairCorr
  0.91VNO-PM Vornado Realty TrustPairCorr
  0.91VNO-PN Vornado Realty TrustPairCorr
  0.85VNO-PO Vornado Realty TrustPairCorr
  0.7VICI VICI PropertiesPairCorr
  0.72MITT-PA AG Mortgage InvestmentPairCorr
  0.83MITT-PB AG Mortgage InvestmentPairCorr
  0.9MITT-PC AG Mortgage InvestmentPairCorr
  0.73VTMX Corporacin InmobiliariaPairCorr
  0.92ELME Elme CommunitiesPairCorr
  0.81EPRT Essential PropertiesPairCorr
  0.84WELL WelltowerPairCorr
  0.76ESBA Empire State RealtyPairCorr
  0.88CDR-PC Cedar Realty TrustPairCorr
  0.8ESRT Empire State RealtyPairCorr

Moving against Davis Mutual Fund

  0.47UK Ucommune InternationalPairCorr
  0.78WETH Wetouch Technology CommonPairCorr
  0.43CDR-PB Cedar Realty TrustPairCorr
  0.82WHLR Wheeler Real EstatePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Davis Mutual Fund performing well and Davis Real 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 Real'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.

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