Delaware Healthcare Correlations

DLHCX Fund

USD 20.55 0.30 1.48%

The current 90-days correlation between Delaware Healthcare and Optimum Small Mid Cap is 0.77 (i.e., Poor diversification). The correlation of Delaware Healthcare 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 Healthcare Correlation With Market

Very poor diversification

The correlation between Delaware Healthcare Fund and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Delaware Healthcare 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 Delaware Healthcare 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 Delaware Mutual Fund

0.76	OASGX	Optimum Small Mid	Pair Corr
0.85	OASVX	Optimum Small Mid	Pair Corr
0.95	IMAAX	Ivy Apollo Multi	Pair Corr
0.92	WASAX	Ivy Asset Strategy	Pair Corr
0.7	WSGAX	Ivy Small Cap	Pair Corr
0.82	OCIEX	Optimum International	Pair Corr
0.93	OCLVX	Optimum Large Cap	Pair Corr
0.78	OCLGX	Optimum Large Cap	Pair Corr
0.76	OCSGX	Optimum Small Mid	Pair Corr
0.85	OCSVX	Optimum Small Mid	Pair Corr
0.8	WSTAX	Ivy Science And	Pair Corr
0.67	DMO	Western Asset Mortgage	Pair Corr
0.85	CXHYX	Delaware National High	Pair Corr
0.81	WCEAX	Ivy E Equity	Pair Corr
0.84	FTNYX	Delaware Tax Free	Pair Corr
0.84	FTORX	First Investors Tax	Pair Corr
0.84	FTOTX	First Investors Tax	Pair Corr
1.0	DLHIX	Delaware Healthcare	Pair Corr
1.0	DLHAX	Delaware Healthcare	Pair Corr
1.0	DLRHX	Delaware Healthcare	Pair Corr
0.82	IPOAX	Ivy Emerging Markets	Pair Corr
0.84	DMHIX	Delaware Minnesota High	Pair Corr
0.84	DMOCX	Delaware Tax Free	Pair Corr
0.83	DMNIX	Delaware Tax Free	Pair Corr
0.8	DMTFX	Delaware Tax Free	Pair Corr
0.79	DMUSX	Delaware Tax Free	Pair Corr
0.93	IRSAX	Ivy Advantus Real	Pair Corr
0.81	OIIEX	Optimum International	Pair Corr
0.78	OILGX	Optimum Large Cap	Pair Corr
0.77	VCTFX	Delaware Tax Free	Pair Corr
0.75	OISGX	Optimum Small Mid	Pair Corr
0.85	OISVX	Optimum Small Mid	Pair Corr

Moving against Delaware Mutual Fund

0.54	DLTZX	Delaware Limited Term	Pair Corr
0.44	DLTRX	Delaware Limited Term	Pair Corr

Related Correlations Analysis

	OASGX	OASVX	IMAAX	WASAX	WSGAX	OCIEX	OCLVX	OCSGX	OCSVX	WSTAX
OASGX		0.98	0.72	0.87	0.98	0.46	0.89	1.0	0.98	0.97	OASGX
OASVX	0.98		0.83	0.92	0.95	0.56	0.95	0.98	1.0	0.97	OASVX
IMAAX	0.72	0.83		0.93	0.68	0.85	0.93	0.72	0.83	0.78	IMAAX
WASAX	0.87	0.92	0.93		0.86	0.82	0.97	0.87	0.92	0.92	WASAX
WSGAX	0.98	0.95	0.68	0.86		0.47	0.85	0.98	0.95	0.97	WSGAX
OCIEX	0.46	0.56	0.85	0.82	0.47		0.72	0.46	0.56	0.58	OCIEX
OCLVX	0.89	0.95	0.93	0.97	0.85	0.72		0.89	0.95	0.91	OCLVX
OCSGX	1.0	0.98	0.72	0.87	0.98	0.46	0.89		0.98	0.97	OCSGX
OCSVX	0.98	1.0	0.83	0.92	0.95	0.56	0.95	0.98		0.97	OCSVX
WSTAX	0.97	0.97	0.78	0.92	0.97	0.58	0.91	0.97	0.97		WSTAX
	OASGX	OASVX	IMAAX	WASAX	WSGAX	OCIEX	OCLVX	OCSGX	OCSVX	WSTAX

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Risk-Adjusted Indicators

There is a big difference between Delaware Mutual Fund performing well and Delaware Healthcare 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 Healthcare'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
OASGX	1.59	(0.13)	0.00	(0.23)	0.00	0.00	2.67	(3.49)	15.12
OASVX	1.22	(0.09)	0.00	(0.22)	0.00	0.00	2.24	(2.31)	13.64
IMAAX	0.55	(0.01)	0.00	(0.17)	0.00	0.00	1.07	(1.11)	4.97
WASAX	0.75	0.06	0.00	(0.05)	0.00	0.00	1.33	(1.65)	7.11
WSGAX	1.66	(0.03)	0.00	(0.16)	0.00	0.00	2.81	(3.69)	13.83
OCIEX	0.98	0.15	0.12	0.07	1.60	(0.94)	1.97	(2.50)	8.62
OCLVX	0.94	0.02	0.00	(0.11)	0.00	0.00	1.50	(1.99)	9.60
OCSGX	1.58	(0.13)	0.00	(0.24)	0.00	0.00	2.62	(3.53)	14.99
OCSVX	1.23	(0.09)	0.00	(0.22)	0.00	0.00	2.22	(2.37)	13.65
WSTAX	1.92	0.00	0.00	(0.14)	0.00	0.00	2.85	(4.50)	18.34

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