Delaware Small Correlations

DEVLX Fund

USD 65.76 0.43 0.65%

The current 90-days correlation between Delaware Small Cap and Health Care Ultrasector is -0.02 (i.e., Good 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 -0.06 (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

0.97	OASGX	Optimum Small Mid	Pair Corr
1.0	OASVX	Optimum Small Mid	Pair Corr
0.95	WASAX	Ivy Asset Strategy	Pair Corr
0.94	WSGAX	Ivy Small Cap	Pair Corr
0.95	OCSGX	Optimum Small Mid	Pair Corr
0.96	OCSVX	Optimum Small Mid	Pair Corr
0.96	WSTAX	Ivy Science And	Pair Corr
0.81	DMO	Western Asset Mortgage	Pair Corr
0.74	DLTRX	Delaware Limited Term	Pair Corr
0.93	IPOAX	Ivy Emerging Markets	Pair Corr
0.71	IRSAX	Ivy Advantus Real	Pair Corr
0.92	OIIEX	Optimum International	Pair Corr
0.95	OILGX	Optimum Large Cap	Pair Corr
0.95	OILVX	Optimum Large Cap	Pair Corr
0.7	DPDFX	Delaware Diversified	Pair Corr
0.64	DPFFX	Delaware Diversified	Pair Corr
0.95	OISGX	Optimum Small Mid	Pair Corr
0.96	OISVX	Optimum Small Mid	Pair Corr
0.93	FGINX	First Investors Growth	Pair Corr
0.86	DPRSX	Delaware Reit	Pair Corr
0.62	DPRFX	Delaware Diversified	Pair Corr
0.88	DPREX	Delaware Reit	Pair Corr

Moving against Delaware Mutual Fund

0.31	VAZIX	Delaware Tax Free	Pair Corr
0.34	DPTCX	Delaware Tax Free	Pair Corr

Related Correlations Analysis

	HCPIX	PGHAX	PJHRX	VGHCX	GTHCX	SCHLX
HCPIX		0.96	0.73	0.9	0.87	0.94	HCPIX
PGHAX	0.96		0.83	0.97	0.91	0.95	PGHAX
PJHRX	0.73	0.83		0.86	0.82	0.9	PJHRX
VGHCX	0.9	0.97	0.86		0.91	0.94	VGHCX
GTHCX	0.87	0.91	0.82	0.91		0.9	GTHCX
SCHLX	0.94	0.95	0.9	0.94	0.9		SCHLX
	HCPIX	PGHAX	PJHRX	VGHCX	GTHCX	SCHLX

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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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
HCPIX	1.32	0.03	0.00	0.11	0.00	0.00	2.87	(3.54)	8.07
PGHAX	0.85	0.01	0.00	0.17	0.00	0.00	1.70	(2.26)	4.65
PJHRX	0.98	0.09	(0.12)	(0.13)	1.32	(0.95)	1.96	(2.25)	5.39
VGHCX	0.93	0.04	0.00	0.05	0.00	0.00	1.90	(2.02)	5.23
GTHCX	0.71	0.02	0.00	0.08	0.00	0.00	1.54	(1.72)	3.99
SCHLX	0.86	0.05	(0.15)	0.02	1.23	(0.85)	1.80	(2.20)	5.11

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