Dfa California Correlations

Mutual Funds . USA . 
Fund . Dfa California Municipal
DCARX Fund  USD 10.73  0.01  0.09%   
The current 90-days correlation between Dfa California Municipal and Science Technology Fund is -0.42 (i.e., Very 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

Very good diversification

The correlation between Dfa California Municipal and DJI is -0.36 (i.e., Very good 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

  0.73DIHRX Intal High RelativePairCorr
  0.72DILRX Dfa InternationalPairCorr
  0.66DIPSX Dfa Inflation ProtectedPairCorr
  0.75DISVX Dfa International SmallPairCorr
  0.74DISMX Dfa InternationalPairCorr
  0.94DMNBX Dfa Mn MunicipalPairCorr
  0.98DMREX Dfa Municipal RealPairCorr
  0.93DNYMX Dfa Ny MunicipalPairCorr
  0.93DOGMX Dfa Oregon MunicipalPairCorr
  0.8DREIX World Core EquityPairCorr
  0.8DRIIX Dimensional 2045 TargetPairCorr
  0.83DRIHX Dimensional 2040 TargetPairCorr
  0.85DRIGX Dimensional 2035 TargetPairCorr
  0.86DRIWX Dimensional 2030 TargetPairCorr
  0.87DRIUX Dimensional 2025 TargetPairCorr
  0.88DRIRX Dimensional 2020 TargetPairCorr
  0.88DRIQX Dimensional 2015 TargetPairCorr
  0.79DRILX Dimensional 2060 TargetPairCorr
  0.79DRIKX Dimensional 2055 TargetPairCorr
  0.79DRIJX Dimensional 2050 TargetPairCorr
  0.82DAADX Dfa Emerging MarketsPairCorr
  0.8DAABX Dfa SustainabilityPairCorr
  0.74DSCLX Dfa International SocialPairCorr
  0.77DSCGX Dfa SmallPairCorr
  0.74DSFIX Dfa Social FixedPairCorr
  0.8DSHGX Dfa Selectively HedgedPairCorr
  0.9DSSMX Dfa Selective StatePairCorr
  0.86DTCPX Dfa Targeted CreditPairCorr
  0.79DTDRX Dimensional 2065 TargetPairCorr
  0.89DCIBX Dfa Ca IntPairCorr
  0.79DURPX Us High RelativePairCorr
  0.79DUSQX Us Lg CapPairCorr
  0.79DUSLX Dfa LargePairCorr
  0.82DEMSX Emerging Markets SmallPairCorr
  0.83DEMGX Emerging Markets TargetedPairCorr
  0.82DESIX Emerging Markets SusPairCorr

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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