Dana Epiphany Correlations

Mutual Funds . USA . 
Fund . Dana Epiphany Esg
ESGIX Fund  USD 16.69  0.04  0.24%   
The current 90-days correlation between Dana Epiphany Esg and Dana Large Cap is 0.98 (i.e., Almost no diversification). The correlation of Dana Epiphany 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 Epiphany Correlation With Market

Very poor diversification

The correlation between Dana Epiphany Esg and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dana Epiphany Esg 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 Epiphany Esg. 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

  1.0DLCIX Dana Large CapPairCorr
  1.0DLCEX Dana Large CapPairCorr
  0.99DSCIX Dana Small CapPairCorr
  1.0VTSAX Vanguard Total StockPairCorr
  1.0VFIAX Vanguard 500 IndexPairCorr
  1.0VTSMX Vanguard Total StockPairCorr
  1.0VITSX Vanguard Total StockPairCorr
  1.0VSMPX Vanguard Total StockPairCorr
  1.0VSTSX Vanguard Total StockPairCorr
  1.0VFINX Vanguard 500 IndexPairCorr
  1.0VFFSX Vanguard 500 IndexPairCorr
  1.0VINIX Vanguard InstitutionalPairCorr
  0.75VIIIX Vanguard InstitutionalPairCorr
  0.64LIIAX Columbia Porate IncomePairCorr
  0.64SRINX Columbia Porate IncomePairCorr
  0.69WRHIX Ivy High IncomePairCorr
  0.69WHIAX Ivy High IncomePairCorr
  0.7IHIFX Ivy High IncomePairCorr
  0.7IVHIX Ivy High IncomePairCorr
  0.71NILTX Neuberger Berman IntPairCorr
  0.97IOBAX Icon Bond FundPairCorr
  0.78QLEIX Aqr Long ShortPairCorr
  0.71FMUUX Federated MunicipalPairCorr
  0.66LTINX Principal Lifetime 2015PairCorr
  0.76ALCEX Avantis Large CapPairCorr
  0.99EMRIX Emerging MarketsPairCorr
  0.61CGOAX Columbia Small CapPairCorr
  0.66UINQX Usaa Nasdaq 100PairCorr
  0.72NWKEX Nationwide Highmark SmallPairCorr
  0.97PRJIX T Rowe PricePairCorr
  0.65SDYAX Simt Dynamic AssetPairCorr
  0.61HCMQX Hcm Dividend SectorPairCorr
  0.91SEPCX Energy Basic MaterialsPairCorr
  0.76HBADX Hartford ModeratePairCorr
  0.71VGRLX Vanguard Global ExPairCorr
  0.66RGLIX Allianzgi Global NaturalPairCorr
  0.66AKRSX Akre Focus FundPairCorr
  0.71RPIDX T Rowe PricePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Dana Mutual Fund performing well and Dana Epiphany 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 Epiphany'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
DLCIX  0.67  0.13  0.11  0.26  0.55 
(0.74)
 2.07 
(1.31)
 5.02 
DLCEX  0.67  0.12  0.12  0.26  0.56 
(0.77)
 2.11 
(1.31)
 5.10 
ESGIX  0.70  0.15  0.16  0.29  0.44 
(0.83)
 2.15 
(1.44)
 5.15 
DSCIX  0.95  0.13  0.12  0.25  0.98 
(1.06)
 2.37 
(1.84)
 7.55 
CHW  0.56  0.29  0.26  2.82  0.00 
(0.70)
 1.85 
(0.88)
 3.46 
GTENX  0.26  0.13  0.03  3.90  0.00 
(0.32)
 0.91 
(0.36)
 1.99 
PGDRX  0.32  0.08 (0.12)(1.67) 0.26 
(0.39)
 0.70 
(0.85)
 1.85 
CEDLX  0.24  0.04 (0.26)(1.02) 0.18 
(0.27)
 0.56 
(0.51)
 1.86 
FEIAX  0.35  0.09 (0.08)(0.55) 0.18 
(0.71)
 1.12 
(0.57)
 3.46 
HBLTX  0.28  0.08 (0.11)(3.02) 0.14 
(0.34)
 0.56 
(0.54)
 2.02 

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