Dfa California Correlations

Mutual Funds . USA . 
Fund . Dfa California Municipal
DCARX Fund  USD 10.79  0.01  0.09%   
The current 90-days correlation between Dfa California Municipal and Qs Global Equity is -0.14 (i.e., Good diversification). The correlation of Dfa California 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.

Dfa California Correlation With Market

Weak diversification

The correlation between Dfa California Municipal and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dfa California Municipal 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 Dfa California Municipal. 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 metropolitan statistical area.

Moving together with Dfa Mutual Fund

  0.64DIHRX Intal High RelativePairCorr
  0.72DILRX Dfa InternationalPairCorr
  0.9DIPSX Dfa Inflation ProtectedPairCorr
  0.64DISVX Dfa International SmallPairCorr
  0.77DISMX Dfa InternationalPairCorr
  0.88DMNBX Dfa Mn MunicipalPairCorr
  0.99DMREX Dfa Municipal RealPairCorr
  0.9DNYMX Dfa Ny MunicipalPairCorr
  0.9DOGMX Dfa Oregon MunicipalPairCorr
  0.65DREIX World Core EquityPairCorr
  0.66DRIIX Dimensional 2045 TargetPairCorr
  0.8DRIHX Dimensional 2040 TargetPairCorr
  0.87DRIGX Dimensional 2035 TargetPairCorr
  0.94DRIBX Dimensional 2010 TargetPairCorr
  0.9DRIWX Dimensional 2030 TargetPairCorr
  0.92DRIUX Dimensional 2025 TargetPairCorr
  0.93DRIRX Dimensional 2020 TargetPairCorr
  0.93DRIQX Dimensional 2015 TargetPairCorr
  0.65DRILX Dimensional 2060 TargetPairCorr
  0.65DRIKX Dimensional 2055 TargetPairCorr
  0.65DRIJX Dimensional 2050 TargetPairCorr
  0.81DRXIX Dfa Ltip PortfolioPairCorr
  0.73DSCLX Dfa International SocialPairCorr
  0.88DSFIX Dfa Social FixedPairCorr
  0.9DSSMX Dfa Selective StatePairCorr
  0.95DTCPX Dfa Targeted CreditPairCorr
  0.68DTDRX Dimensional 2065 TargetPairCorr
  0.9DCIBX Dfa Ca IntPairCorr
  0.76DURPX Us High RelativePairCorr
  0.64DUSQX Us Lg CapPairCorr
  0.73DUSLX Dfa LargePairCorr
  0.81DWFIX Dfa World ExPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Dfa Mutual Fund performing well and Dfa California 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 Dfa California'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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