Delaware Small Correlations

Mutual Funds . USA . 
Fund . Delaware Small Cap
DCCCX Fund  USD 23.86  0.14  0.58%   
The current 90-days correlation between Delaware Small Cap and Optimum Small Mid Cap is 0.93 (i.e., Almost no diversification). The correlation of Delaware Small 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.

Delaware Small Correlation With Market

Very poor diversification

The correlation between Delaware Small Cap and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Delaware Small Cap 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 Delaware Small Cap. 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 main economic indicators.

Moving together with Delaware Mutual Fund

  0.99OASGX Optimum Small MidPairCorr
  0.99OASVX Optimum Small MidPairCorr
  0.69IMAAX Ivy Apollo MultiPairCorr
  0.63OCFIX Optimum Fixed IncomePairCorr
  0.98WASAX Ivy Asset StrategyPairCorr
  0.97WSGAX Ivy Small CapPairCorr
  0.94OCIEX Optimum InternationalPairCorr
  0.99OCLVX Optimum Large CapPairCorr
  0.98OCLGX Optimum Large CapPairCorr
  0.99OCSGX Optimum Small MidPairCorr
  0.99OCSVX Optimum Small MidPairCorr
  0.97WSTAX Ivy Science AndPairCorr
  0.9DMO Western Asset MortgagePairCorr
  0.69WCEAX Ivy E EquityPairCorr
  0.8DLTZX Delaware Limited TermPairCorr
  0.8DLTRX Delaware Limited TermPairCorr
  0.71IPOAX Ivy Emerging MarketsPairCorr
  0.81IRSAX Ivy Advantus RealPairCorr
  0.68OIFIX Optimum Fixed IncomePairCorr
  0.96OIIEX Optimum InternationalPairCorr
  0.98OILGX Optimum Large CapPairCorr
  0.99OILVX Optimum Large CapPairCorr
  0.73DPDFX Delaware DiversifiedPairCorr
  0.73DPFFX Delaware DiversifiedPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Delaware Mutual Fund performing well and Delaware Small 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 Delaware Small'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
OASGX  0.91  0.13  0.13  0.25  0.74 
(1.06)
 2.67 
(1.45)
 6.95 
OASVX  0.87  0.08  0.08  0.20  0.83 
(1.01)
 2.41 
(1.77)
 6.81 
IMAAX  0.03 (0.01) 0.00 (0.03) 0.00 
 0.00 
 0.11 
 0.00 
 0.45 
OCFIX  0.25  0.01 (0.32) 0.22  0.23 
(0.30)
 0.47 
(0.46)
 1.27 
WASAX  0.35  0.10  0.06  0.35  0.00 
(0.40)
 1.26 
(0.76)
 2.37 
WSGAX  0.87  0.10  0.08  0.23  0.83 
(0.96)
 2.29 
(1.44)
 4.95 
OCIEX  0.50  0.24  0.17 (2.17) 0.00 
(0.63)
 1.25 
(0.83)
 3.22 
OCLVX  0.57  0.04  0.01  0.19  0.57 
(0.66)
 1.46 
(1.02)
 3.86 
OCLGX  0.81  0.16  0.15  0.28  0.68 
(0.96)
 2.39 
(1.34)
 5.62 
OCSGX  0.89  0.13  0.13  0.25  0.76 
(1.17)
 2.62 
(1.41)
 6.89 

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