Davis Global Correlations

DGFYX Fund

USD 32.41 0.03 0.09%

The current 90-days correlation between Davis Global and Mirova Global Green is -0.02 (i.e., Good diversification). The correlation of Davis Global 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 Global Correlation With Market

Very weak diversification

The correlation between Davis Global Fund and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis Global 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 Global 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

0.96	DILCX	Davis International	Pair Corr
0.96	DILAX	Davis International	Pair Corr
0.96	DILYX	Davis International	Pair Corr
0.64	RPFGX	Davis Financial	Pair Corr
0.62	RPFCX	Davis Appreciation Income	Pair Corr
0.8	RPEAX	Davis Opportunity	Pair Corr
0.83	DNVYX	Davis New York	Pair Corr
0.83	NYVCX	Davis New York	Pair Corr
0.83	NYVBX	Davis New York	Pair Corr
0.83	NYVRX	Davis New York	Pair Corr
0.83	NYVTX	Davis New York	Pair Corr
0.61	DCSCX	Davis Appreciation Income	Pair Corr
0.62	DCSYX	Davis Appreciation Income	Pair Corr
0.64	DVFYX	Davis Financial	Pair Corr
0.64	DFFCX	Davis Financial	Pair Corr
1.0	DGFCX	Davis Global	Pair Corr
1.0	DGFAX	Davis Global	Pair Corr
0.8	DGOCX	Davis Opportunity	Pair Corr
0.8	DGOYX	Davis Opportunity	Pair Corr
0.82	FCWGX	American Funds Capital	Pair Corr
0.83	FWCGX	American Funds Capital	Pair Corr
0.82	CWGIX	Capital World Growth	Pair Corr
0.82	CWGFX	Capital World Growth	Pair Corr
0.81	CWGCX	Capital World Growth	Pair Corr
0.83	RWIFX	Capital World Growth	Pair Corr
0.81	CWICX	Capital World Growth	Pair Corr
0.81	RWIAX	Capital World Growth	Pair Corr
0.82	CWIAX	Capital World Growth	Pair Corr
0.83	WGIFX	Capital World Growth	Pair Corr
0.63	KMKCX	Kinetics Market Oppo	Pair Corr
0.67	KSCYX	Kinetics Small Cap	Pair Corr
0.64	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.71	LETRX	Voya Russia Fund	Pair Corr

Moving against Davis Mutual Fund

0.57	RFBAX	Davis Government Bond	Pair Corr
0.34	DRECX	Davis Real Estate	Pair Corr
0.32	RPFRX	Davis Real Estate	Pair Corr
0.31	DREYX	Davis Real Estate	Pair Corr
0.72	DGVCX	Davis Government Bond	Pair Corr
0.62	DGVYX	Davis Government Bond	Pair Corr

Related Correlations Analysis

	MGGNX	WIGOX	KGLCX	FSBCX	BXFIX	MGKAX	RPGIX
MGGNX		0.29	0.04	0.38	0.04	0.26	0.25	MGGNX
WIGOX	0.29		0.77	0.9	0.72	0.77	0.85	WIGOX
KGLCX	0.04	0.77		0.53	0.86	0.66	0.46	KGLCX
FSBCX	0.38	0.9	0.53		0.51	0.74	0.96	FSBCX
BXFIX	0.04	0.72	0.86	0.51		0.47	0.52	BXFIX
MGKAX	0.26	0.77	0.66	0.74	0.47		0.67	MGKAX
RPGIX	0.25	0.85	0.46	0.96	0.52	0.67		RPGIX
	MGGNX	WIGOX	KGLCX	FSBCX	BXFIX	MGKAX	RPGIX

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Risk-Adjusted Indicators

There is a big difference between Davis Mutual Fund performing well and Davis Global 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 Global'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
MGGNX	0.20	0.02	(0.38)	0.92	0.13	(0.26)	0.46	(0.34)	1.13
WIGOX	0.75	(0.01)	(0.01)	0.12	0.73	(0.88)	1.54	(1.24)	4.08
KGLCX	1.07	0.38	0.32	0.51	0.57	(1.29)	3.14	(1.32)	7.99
FSBCX	0.36	(0.03)	(0.18)	0.06	0.45	(0.37)	0.75	(0.85)	2.09
BXFIX	0.07	0.03	0.00	1.98	0.00	0.00	0.12	0.00	0.81
MGKAX	0.72	(0.06)	(0.10)	0.05	0.89	(0.68)	1.39	(1.20)	3.63
RPGIX	0.73	(0.07)	(0.06)	0.06	1.02	(0.73)	1.40	(1.57)	4.64

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