Davis Opportunity Correlations

DGOYX Fund

USD 50.55 0.13 0.26%

The current 90-days correlation between Davis Opportunity and Davis Government Bond is 0.01 (i.e., Significant diversification). The correlation of Davis Opportunity 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 Opportunity Correlation With Market

Very poor diversification

The correlation between Davis Opportunity Fund and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis Opportunity 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 Opportunity 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

0.95	RPFGX	Davis Financial	Pair Corr
0.96	RPFCX	Davis Appreciation Income	Pair Corr
1.0	RPEAX	Davis Opportunity	Pair Corr
0.99	DNVYX	Davis New York	Pair Corr
0.99	NYVCX	Davis New York	Pair Corr
0.99	NYVBX	Davis New York	Pair Corr
0.99	NYVRX	Davis New York	Pair Corr
0.99	NYVTX	Davis New York	Pair Corr
0.96	DCSCX	Davis Appreciation Income	Pair Corr
0.96	DCSYX	Davis Appreciation Income	Pair Corr
0.95	DVFYX	Davis Financial	Pair Corr
0.95	DFFCX	Davis Financial	Pair Corr
0.79	DGFCX	Davis Global	Pair Corr
0.8	DGFAX	Davis Global	Pair Corr
0.8	DGFYX	Davis Global	Pair Corr
1.0	DGOCX	Davis Opportunity	Pair Corr
0.98	VTSAX	Vanguard Total Stock	Pair Corr
0.97	VFIAX	Vanguard 500 Index	Pair Corr
0.98	VTSMX	Vanguard Total Stock	Pair Corr
0.98	VITSX	Vanguard Total Stock	Pair Corr
0.98	VSMPX	Vanguard Total Stock	Pair Corr
0.98	VSTSX	Vanguard Total Stock	Pair Corr
0.97	VFINX	Vanguard 500 Index	Pair Corr
0.97	VFFSX	Vanguard 500 Index	Pair Corr
0.97	VINIX	Vanguard Institutional	Pair Corr
0.97	VIIIX	Vanguard Institutional	Pair Corr
0.92	CII	Blackrock Enhanced	Pair Corr
0.93	BDJ	Blackrock Enhanced Equity	Pair Corr

Moving against Davis Mutual Fund

0.55	RFBAX	Davis Government Bond	Pair Corr
0.46	DGVYX	Davis Government Bond	Pair Corr
0.84	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.81	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.74	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.67	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	RFBAX	DILCX	DILBX	DREBX	NYVRX	RPFCX	RPFEX	RPFRX	RPGXX
RFBAX		-0.48	0.0	0.0	-0.58	-0.47	0.0	0.63	-0.6	RFBAX
DILCX	-0.48		0.0	0.0	0.65	0.37	0.0	-0.3	0.83	DILCX
DILBX	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	DILBX
DREBX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	DREBX
NYVRX	-0.58	0.65	0.0	0.0		0.94	0.0	-0.23	0.76	NYVRX
RPFCX	-0.47	0.37	0.0	0.0	0.94		0.0	-0.15	0.59	RPFCX
RPFEX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	RPFEX
RPFRX	0.63	-0.3	0.0	0.0	-0.23	-0.15	0.0		-0.41	RPFRX
RPGXX	-0.6	0.83	0.0	0.0	0.76	0.59	0.0	-0.41		RPGXX
	RFBAX	DILCX	DILBX	DREBX	NYVRX	RPFCX	RPFEX	RPFRX	RPGXX

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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

RPFCX	+ 0.94	NYVRX
RPGXX	+ 0.83	DILCX
RPGXX	+ 0.76	NYVRX
NYVRX	+ 0.65	DILCX
RPFRX	+ 0.63	RFBAX
RPGXX	+ 0.59	RPFCX

High negative correlations

RPGXX	- 0.6	RFBAX
NYVRX	- 0.58	RFBAX
DILCX	- 0.48	RFBAX
RPFCX	- 0.47	RFBAX
RPGXX	- 0.41	RPFRX
RPFRX	- 0.3	DILCX

Risk-Adjusted Indicators

There is a big difference between Davis Mutual Fund performing well and Davis Opportunity 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 Opportunity'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
RFBAX	0.06	(0.01)	(0.63)	(0.43)	0.01	(0.22)	0.20	(0.20)	0.59
DILCX	1.17	0.15	0.04	0.47	1.64	(1.19)	3.00	(2.40)	11.02
DILBX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DREBX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NYVRX	0.70	(0.02)	(0.01)	0.11	0.79	(0.70)	1.80	(1.59)	4.59
RPFCX	0.54	(0.01)	(0.03)	0.12	0.58	(0.59)	1.10	(1.18)	4.01
RPFEX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RPFRX	0.70	0.00	(0.11)	0.14	0.81	(0.72)	1.36	(1.30)	3.53
RPGXX	0.03	0.01	0.00	(2.04)	0.00	0.00	0.00	0.00	1.01

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