Dana Small Correlations

Mutual Funds . USA . 
Fund . Dana Small Cap
DSCIX Fund  USD 14.06  0.09  0.64%   
The current 90-days correlation between Dana Small Cap and Western Asset Inflation is 0.03 (i.e., Significant diversification). The correlation of Dana Small 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 Small Correlation With Market

Very poor diversification

The correlation between Dana Small Cap and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dana Small 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 Small 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

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Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Dana Mutual Fund performing well and Dana Small 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 Small'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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