Delaware Small Correlations

Mutual Funds . USA . 
Fund . Delaware Small Cap
DEVLX Fund  USD 66.33  0.83  1.27%   
The current 90-days correlation between Delaware Small Cap and Buffalo Growth Fund is 0.02 (i.e., Significant 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

Good diversification

The correlation between Delaware Small Cap and DJI is -0.16 (i.e., Good 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 bureau of economic analysis.

Moving together with Delaware Mutual Fund

  0.97OASGX Optimum Small MidPairCorr
  1.0OASVX Optimum Small MidPairCorr
  0.96WASAX Ivy Asset StrategyPairCorr
  0.95WSGAX Ivy Small CapPairCorr
  0.93OCIEX Optimum InternationalPairCorr
  0.96OCLVX Optimum Large CapPairCorr
  0.96OCLGX Optimum Large CapPairCorr
  0.95OCSGX Optimum Small MidPairCorr
  1.0OCSVX Optimum Small MidPairCorr
  0.96WSTAX Ivy Science AndPairCorr
  0.82DMO Western Asset MortgagePairCorr
  0.97WCEAX Ivy E EquityPairCorr
  0.76DLTZX Delaware Limited TermPairCorr
  0.94IPOAX Ivy Emerging MarketsPairCorr
  0.74IRSAX Ivy Advantus RealPairCorr
  0.61OIFIX Optimum Fixed IncomePairCorr
  0.93OIIEX Optimum InternationalPairCorr
  0.95OILGX Optimum Large CapPairCorr
  0.98OILVX Optimum Large CapPairCorr
  0.66DPCFX Delaware DiversifiedPairCorr
  0.7DPDFX Delaware DiversifiedPairCorr
  0.66DPFFX Delaware DiversifiedPairCorr
  0.97OISGX Optimum Small MidPairCorr
  0.96OISVX Optimum Small MidPairCorr

Moving against Delaware Mutual Fund

  0.31VAZIX Delaware Tax FreePairCorr

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.

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