Davenport Value Correlations

DVIPX Fund

USD 20.19 0.26 1.30%

The current 90-days correlation between Davenport Value Income and Leader Short Term Bond is 0.05 (i.e., Significant diversification). The correlation of Davenport Value 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.

Davenport Value Correlation With Market

Poor diversification

The correlation between Davenport Value Income and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davenport Value Income 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 Davenport Value Income. 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 american community survey.

Moving together with Davenport Mutual Fund

0.99	VVIAX	Vanguard Value Index	Pair Corr
0.98	AFMFX	American Mutual	Pair Corr
0.98	FFMMX	American Funds American	Pair Corr
0.98	FFFMX	American Funds American	Pair Corr
0.98	AMRMX	American Mutual	Pair Corr
0.98	AMFCX	American Mutual	Pair Corr
0.97	DODGX	Dodge Stock Fund	Pair Corr
0.99	VIVAX	Vanguard Value Index	Pair Corr
0.95	ERH	Allspring Utilities And	Pair Corr
0.96	WHIYX	Ivy High Income	Pair Corr
0.96	IVHIX	Ivy High Income	Pair Corr
0.96	IHIFX	Ivy High Income	Pair Corr
0.96	WRHIX	Ivy High Income	Pair Corr
0.96	WHIAX	Ivy High Income	Pair Corr
0.82	CSJZX	Cohen Steers Realty	Pair Corr
0.82	CSRSX	Cohen Steers Realty	Pair Corr

Moving against Davenport Mutual Fund

0.44	TRV	The Travelers Companies	Pair Corr
0.38	WMT	Walmart Sell-off Trend	Pair Corr
0.31	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	LCCMX	ASTIX	PRMDX	HYSZX	DMBAX	ASCLX
LCCMX		0.94	0.96	0.95	0.97	0.93	LCCMX
ASTIX	0.94		0.94	0.97	0.96	0.98	ASTIX
PRMDX	0.96	0.94		0.97	0.99	0.96	PRMDX
HYSZX	0.95	0.97	0.97		0.99	0.97	HYSZX
DMBAX	0.97	0.96	0.99	0.99		0.97	DMBAX
ASCLX	0.93	0.98	0.96	0.97	0.97		ASCLX
	LCCMX	ASTIX	PRMDX	HYSZX	DMBAX	ASCLX

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Risk-Adjusted Indicators

There is a big difference between Davenport Mutual Fund performing well and Davenport Value 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 Davenport Value'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
LCCMX	0.12	0.06	(1.04)	14.72	(0.26)	0.51	(0.12)	1.00
ASTIX	0.28	0.04	(0.26)	0.32	(0.35)	0.47	(0.46)	2.70
PRMDX	0.06	0.02	0.00	(3.77)	0.00	0.20	0.00	0.39
HYSZX	0.11	0.04	(0.97)	0.78	(0.20)	0.24	(0.12)	0.84
DMBAX	0.05	0.02	0.00	(17.35)	0.00	0.16	(0.08)	0.32
ASCLX	0.22	0.04	(0.37)	0.36	(0.28)	0.61	(0.39)	1.71

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