Davis New Correlations

Mutual Funds . USA . 
Fund . Davis New York
DNVYX Fund  USD 31.96  0.12  0.38%   
The current 90-days correlation between Davis New York and Amg River Road is 0.79 (i.e., Poor diversification). The correlation of Davis New 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 New Correlation With Market

Very poor diversification

The correlation between Davis New York and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis New York 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 New York. 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

  0.65DILCX Davis InternationalPairCorr
  0.65DILAX Davis InternationalPairCorr
  0.65DILYX Davis InternationalPairCorr
  0.93RPFGX Davis FinancialPairCorr
  0.94RPFCX Davis Appreciation IncomePairCorr
  0.99RPEAX Davis OpportunityPairCorr
  1.0NYVCX Davis New YorkPairCorr
  1.0NYVBX Davis New YorkPairCorr
  1.0NYVRX Davis New YorkPairCorr
  1.0NYVTX Davis New YorkPairCorr
  0.94DCSCX Davis Appreciation IncomePairCorr
  0.94DCSYX Davis Appreciation IncomePairCorr
  0.93DVFYX Davis FinancialPairCorr
  0.93DFFCX Davis FinancialPairCorr
  0.83DGFCX Davis GlobalPairCorr
  0.83DGFAX Davis GlobalPairCorr
  0.83DGFYX Davis GlobalPairCorr
  0.99DGOCX Davis OpportunityPairCorr
  0.99DGOYX Davis OpportunityPairCorr
  0.96VTSAX Vanguard Total StockPairCorr
  0.96VFIAX Vanguard 500 IndexPairCorr
  0.96VTSMX Vanguard Total StockPairCorr
  0.96VITSX Vanguard Total StockPairCorr
  0.96VSMPX Vanguard Total StockPairCorr
  0.96VSTSX Vanguard Total StockPairCorr
  0.96VFINX Vanguard 500 IndexPairCorr
  0.96VFFSX Vanguard 500 IndexPairCorr
  0.96VINIX Vanguard InstitutionalPairCorr
  0.96VIIIX Vanguard InstitutionalPairCorr

Moving against Davis Mutual Fund

  0.58RFBAX Davis Government BondPairCorr
  0.67DGVCX Davis Government BondPairCorr
  0.53BTMPX Ishares Msci EafePairCorr
  0.53BTMKX Blackrock InternationalPairCorr
  0.53MDIIX Blackrock Intern IndexPairCorr
  0.5DGVYX Davis Government BondPairCorr
  0.43FMFFX Fs Managed FuturesPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Davis Mutual Fund performing well and Davis New 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 New'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.

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