Davis International Correlations

DILCX Fund

USD 12.66 0.34 2.76%

The current 90-days correlation between Davis International and Doubleline Total Return is -0.15 (i.e., Good diversification). The correlation of Davis International 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.

Davis International Correlation With Market

Significant diversification

The correlation between Davis International Fund and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis International Fund 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 Davis International Fund. 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 Davis Mutual Fund

0.85	VGTSX	Vanguard Total Inter	Pair Corr
0.85	VTIAX	Vanguard Total Inter	Pair Corr
0.85	VTSNX	Vanguard Total Inter	Pair Corr
0.85	VTPSX	Vanguard Total Inter	Pair Corr
0.85	VTISX	Vanguard Total Inter	Pair Corr
0.78	VTMGX	Vanguard Developed	Pair Corr
0.78	VDVIX	Vanguard Developed	Pair Corr
0.78	VTMNX	Vanguard Developed	Pair Corr
0.78	VDIPX	Vanguard Developed	Pair Corr
0.79	FSPSX	Fidelity International	Pair Corr
0.8	XEDDX	Morgan Stanley Emerging	Pair Corr
0.72	PFE	Pfizer Inc	Pair Corr
0.71	CSCO	Cisco Systems	Pair Corr
0.64	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.77	DD	Dupont De Nemours	Pair Corr
0.7	MRK	Merck Company	Pair Corr

Moving against Davis Mutual Fund

0.33

MIDSX

Midas Fund Midas

Pair Corr

Related Correlations Analysis

	DLTNX	BMOPX	MSTBX	ANBIX	PICYX	SCCIX
DLTNX		0.97	0.84	0.83	0.98	0.91	DLTNX
BMOPX	0.97		0.81	0.79	0.99	0.94	BMOPX
MSTBX	0.84	0.81		0.71	0.82	0.64	MSTBX
ANBIX	0.83	0.79	0.71		0.79	0.7	ANBIX
PICYX	0.98	0.99	0.82	0.79		0.95	PICYX
SCCIX	0.91	0.94	0.64	0.7	0.95		SCCIX
	DLTNX	BMOPX	MSTBX	ANBIX	PICYX	SCCIX

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Risk-Adjusted Indicators

There is a big difference between Davis Mutual Fund performing well and Davis International 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 Davis International'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
DLTNX	0.27	0.02	0.34	0.39	0.28	(0.31)	0.57	(0.57)	1.69
BMOPX	0.29	0.02	0.32	0.26	0.34	(0.30)	0.56	(0.56)	1.77
MSTBX	0.12	0.02	0.72	0.78	0.00	(0.17)	0.21	(0.21)	0.82
ANBIX	0.22	0.02	0.35	(0.46)	0.26	(0.24)	0.48	(0.47)	1.81
PICYX	0.33	0.02	0.30	0.23	0.36	(0.36)	0.62	(0.60)	2.05
SCCIX	0.31	0.01	0.30	0.11	0.37	(0.32)	0.56	(0.56)	1.85

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