Davis Financial Correlations

DVFYX Fund

USD 72.92 0.26 0.36%

The current 90-days correlation between Davis Financial and Angel Oak Financial is 0.22 (i.e., Modest diversification). The correlation of Davis Financial 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 Financial Correlation With Market

Significant diversification

The correlation between Davis Financial Fund and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis Financial Fund 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 Financial Fund. 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

0.85	DILCX	Davis International	Pair Corr
0.85	DILAX	Davis International	Pair Corr
0.81	DILYX	Davis International	Pair Corr
0.92	RPFGX	Davis Financial	Pair Corr
0.98	RPFCX	Davis Appreciation Income	Pair Corr
0.77	RPFRX	Davis Real Estate	Pair Corr
0.86	RPEAX	Davis Opportunity	Pair Corr
0.77	DREYX	Davis Real Estate	Pair Corr
0.77	DRECX	Davis Real Estate	Pair Corr
0.96	NYVCX	Davis New York	Pair Corr
0.96	NYVBX	Davis New York	Pair Corr
0.89	NYVRX	Davis New York	Pair Corr
0.9	DCSYX	Davis Appreciation Income	Pair Corr
1.0	DFFCX	Davis Financial	Pair Corr
0.88	DGFCX	Davis Global	Pair Corr
0.88	DGFAX	Davis Global	Pair Corr
0.88	DGFYX	Davis Global	Pair Corr
0.86	DGOCX	Davis Opportunity	Pair Corr
0.86	DGOYX	Davis Opportunity	Pair Corr
0.98	VFAIX	Vanguard Financials Index	Pair Corr
0.93	FRBCX	Regional Bank	Pair Corr
0.87	JRGRX	Regional Bank	Pair Corr
0.99	PRISX	T Rowe Price	Pair Corr
0.9	FIDCX	Financial Industries	Pair Corr
0.9	JFDRX	Financial Industries	Pair Corr
0.91	TFIFX	T Rowe Price	Pair Corr
0.94	VTSAX	Vanguard Total Stock	Pair Corr
0.94	VFIAX	Vanguard 500 Index	Pair Corr
0.94	VTSMX	Vanguard Total Stock	Pair Corr
0.94	VSMPX	Vanguard Total Stock	Pair Corr
0.94	VSTSX	Vanguard Total Stock	Pair Corr
0.88	VITSX	Vanguard Total Stock	Pair Corr
0.94	VFINX	Vanguard 500 Index	Pair Corr
0.94	VFFSX	Vanguard 500 Index	Pair Corr
0.77	VGTSX	Vanguard Total Inter	Pair Corr
0.77	VTIAX	Vanguard Total Inter	Pair Corr

Moving against Davis Mutual Fund

0.45	RFBAX	Davis Government Bond	Pair Corr
0.43	DGVYX	Davis Government Bond	Pair Corr
0.49	VFISX	Vanguard Short Term	Pair Corr
0.45	VSBSX	Vanguard Short Term	Pair Corr
0.41	SAEXX	State Street Institu	Pair Corr

Related Correlations Analysis

	XFINX	GCFSX	ICFAX	FTIXX	IAAEX	FIDAX	DVFYX
XFINX		0.41	0.08	0.51	0.15	0.27	0.37	XFINX
GCFSX	0.41		0.89	-0.43	0.89	0.87	0.97	GCFSX
ICFAX	0.08	0.89		-0.65	0.87	0.87	0.93	ICFAX
FTIXX	0.51	-0.43	-0.65		-0.58	-0.47	-0.41	FTIXX
IAAEX	0.15	0.89	0.87	-0.58		0.91	0.86	IAAEX
FIDAX	0.27	0.87	0.87	-0.47	0.91		0.9	FIDAX
DVFYX	0.37	0.97	0.93	-0.41	0.86	0.9		DVFYX
	XFINX	GCFSX	ICFAX	FTIXX	IAAEX	FIDAX	DVFYX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

DVFYX	+ 0.97	GCFSX
DVFYX	+ 0.93	ICFAX
FIDAX	+ 0.91	IAAEX
DVFYX	+ 0.9	FIDAX
ICFAX	+ 0.89	GCFSX
IAAEX	+ 0.89	GCFSX

High negative correlations

FTIXX	- 0.65	ICFAX
IAAEX	- 0.58	FTIXX
FIDAX	- 0.47	FTIXX
FTIXX	- 0.43	GCFSX
DVFYX	- 0.41	FTIXX

Risk-Adjusted Indicators

There is a big difference between Davis Mutual Fund performing well and Davis Financial 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 Financial'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
XFINX	0.32	0.04	0.17	(3.08)	0.42	(0.35)	0.78	(0.84)	3.24
GCFSX	0.99	0.07	0.07	0.52	1.61	(1.00)	2.07	(2.41)	7.41
ICFAX	1.29	(0.01)	0.03	0.06	1.93	(1.34)	2.18	(2.44)	13.29
FTIXX	0.03	0.01	0.00	0.93	0.00	0.00	0.00	0.00	1.01
IAAEX	1.08	0.08	0.05	0.02	1.49	(1.22)	1.76	(2.44)	10.59
FIDAX	1.23	0.06	0.02	(0.01)	2.31	(1.10)	2.56	(3.32)	10.83
DVFYX	1.17	0.06	0.06	2.05	2.04	(1.14)	2.62	(3.12)	9.98

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