Dodge Cox Correlations

DODEX Fund

USD 9.08 0.05 0.55%

The current 90-days correlation between Dodge Cox Emerging and Vanguard Emerging Markets is -0.05 (i.e., Good diversification). The correlation of Dodge Cox 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.

Dodge Cox Correlation With Market

Good diversification

The correlation between Dodge Cox Emerging and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dodge Cox Emerging 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 Dodge Cox Emerging. 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 income.

Moving together with Dodge Mutual Fund

0.77	DODFX	Dodge International Stock	Pair Corr
0.81	DODWX	Dodge Global Stock	Pair Corr
0.77	DOXFX	Dodge Cox International	Pair Corr
0.82	DOXWX	Dodge Cox Global	Pair Corr
0.95	VEMAX	Vanguard Emerging Markets	Pair Corr
0.95	VEIEX	Vanguard Emerging Markets	Pair Corr
0.95	VEMIX	Vanguard Emerging Markets	Pair Corr
0.95	VEMRX	Vanguard Emerging Markets	Pair Corr
0.94	FWWNX	American Funds New	Pair Corr
0.94	FNFWX	American Funds New	Pair Corr
0.88	NEWFX	New World Fund	Pair Corr
0.88	NWFFX	New World Fund	Pair Corr
0.87	NEWCX	New World Fund	Pair Corr
0.86	ODVYX	Oppenheimer Developing	Pair Corr
0.79	AMTOX	Ab All Market	Pair Corr
0.66	PARAX	T Rowe Price	Pair Corr
0.89	MCSMX	Matthews China Small	Pair Corr
0.83	PFN	Pimco Income Strategy	Pair Corr

Moving against Dodge Mutual Fund

0.73

PFHCX

Pacific Funds Small

Pair Corr

Related Correlations Analysis

	VEMAX	VEIEX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP
VEMAX		1.0	-0.42	0.0	-0.5	0.89	0.55	0.37	0.2	-0.31	VEMAX
VEIEX	1.0		-0.42	0.0	-0.5	0.89	0.55	0.37	0.2	-0.31	VEIEX
444859BR2	-0.42	-0.42		0.0	0.22	-0.53	-0.54	-0.03	0.41	-0.41	444859BR2
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.5	-0.5	0.22	0.0		-0.45	-0.35	-0.4	-0.04	0.1	BRRAY
MSTSX	0.89	0.89	-0.53	0.0	-0.45		0.67	0.34	-0.02	-0.08	MSTSX
LBHIX	0.55	0.55	-0.54	0.0	-0.35	0.67		0.51	-0.29	0.22	LBHIX
ABHYX	0.37	0.37	-0.03	0.0	-0.4	0.34	0.51		-0.05	-0.17	ABHYX
SCAXF	0.2	0.2	0.41	0.0	-0.04	-0.02	-0.29	-0.05		-0.8	SCAXF
VIASP	-0.31	-0.31	-0.41	0.0	0.1	-0.08	0.22	-0.17	-0.8		VIASP
	VEMAX	VEIEX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP

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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

VEIEX	+ 1.0	VEMAX
MSTSX	+ 0.89	VEMAX
MSTSX	+ 0.89	VEIEX
LBHIX	+ 0.67	MSTSX
LBHIX	+ 0.55	VEMAX
LBHIX	+ 0.55	VEIEX

High negative correlations

VIASP	- 0.8	SCAXF
LBHIX	- 0.54	444859BR2
MSTSX	- 0.53	444859BR2
BRRAY	- 0.5	VEIEX
BRRAY	- 0.5	VEMAX
MSTSX	- 0.45	BRRAY

Risk-Adjusted Indicators

There is a big difference between Dodge Mutual Fund performing well and Dodge Cox 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 Dodge Cox'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
VEMAX	0.71	(0.03)	(0.12)	0.04	0.85	(0.78)	1.57	(1.68)	4.60
VEIEX	0.71	(0.03)	(0.12)	0.04	0.85	(0.78)	1.55	(1.68)	4.60
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.42)	0.38	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.17	0.00	(0.24)	0.19	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.41)	0.00	(0.98)	0.00	0.00	0.00	0.00	23.47
VIASP	0.74	0.07	(0.04)	(2.04)	1.13	(0.80)	2.28	(1.20)	7.18

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