Dnp Select Correlations

DNP Fund

USD 9.84 0.03 0.31%

The current 90-days correlation between Dnp Select Income and Cohen And Steers is 0.75 (i.e., Poor diversification). The correlation of Dnp Select 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.

Dnp Select Correlation With Market

Very weak diversification

The correlation between Dnp Select Income and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dnp Select Income 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 Dnp Select Income. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Dnp Fund

0.65	VVPR	VivoPower International Tech Boost	Pair Corr
0.78	DTW	DTE Energy	Pair Corr
0.76	AQNB	Algonquin Power Utilities	Pair Corr
0.71	PEO	Adams Natural Resources	Pair Corr
0.92	IGD	Voya Global Equity	Pair Corr
0.93	ERH	Allspring Utilities And	Pair Corr
0.91	MXF	Mexico Closed	Pair Corr
0.91	PCF	Putnam High Income	Pair Corr
0.85	VVR	Invesco Senior Income	Pair Corr
0.9	NBPIX	Neuberger Berman Large	Pair Corr
0.92	AONIX	One Choice Portfolio	Pair Corr
0.94	QIBGX	Federated Mdt Balanced	Pair Corr
0.78	IORLX	Aim Taxexempt Funds	Pair Corr
0.9	GGNPX	Goldman Sachs High	Pair Corr
0.93	FLCNX	Fidelity Contrafund	Pair Corr
0.93	BLARX	Lord Abbett Balanced	Pair Corr
0.94	CSGCX	Calvert Balanced Por	Pair Corr
0.72	GLEAX	Goldman Sachs Mlp	Pair Corr
0.95	ETJ	Eaton Vance Risk	Pair Corr
0.91	ANVHX	American Century Non	Pair Corr
0.86	PNRZX	Pgim Jennison Natural	Pair Corr
0.83	GPPSX	Goldman Sachs Short	Pair Corr
0.91	OAZMX	Oakmark Fund R6	Pair Corr
0.9	BGHSX	Brandywineglobal High	Pair Corr
0.91	MXEOX	Great West Emerging	Pair Corr
0.94	PGBEX	Blue Chip Fund	Pair Corr
0.9	FAHYX	Fidelity Advisor High	Pair Corr
0.87	MISMX	Matthews Asia Small	Pair Corr
0.91	APDMX	Artisan Mid Cap	Pair Corr
0.93	CLREX	Columbia Balanced	Pair Corr
0.83	KAMCX	Kensington Managed Income	Pair Corr
0.93	TWGIX	Growth Fund I	Pair Corr
0.94	MINJX	Mfs International Value	Pair Corr

Related Correlations Analysis

	UTF	RNP	RQI	PDI	CHY	CHW	CHI	CCD	EVT	UTG
UTF		0.96	0.86	0.91	0.94	0.95	0.88	-0.38	0.95	0.97	UTF
RNP	0.96		0.85	0.93	0.96	0.94	0.9	-0.3	0.95	0.95	RNP
RQI	0.86	0.85		0.91	0.81	0.88	0.84	-0.09	0.89	0.87	RQI
PDI	0.91	0.93	0.91		0.94	0.96	0.95	-0.06	0.97	0.94	PDI
CHY	0.94	0.96	0.81	0.94		0.97	0.95	-0.21	0.97	0.96	CHY
CHW	0.95	0.94	0.88	0.96	0.97		0.95	-0.19	0.99	0.97	CHW
CHI	0.88	0.9	0.84	0.95	0.95	0.95		0.04	0.96	0.92	CHI
CCD	-0.38	-0.3	-0.09	-0.06	-0.21	-0.19	0.04		-0.17	-0.27	CCD
EVT	0.95	0.95	0.89	0.97	0.97	0.99	0.96	-0.17		0.97	EVT
UTG	0.97	0.95	0.87	0.94	0.96	0.97	0.92	-0.27	0.97		UTG
	UTF	RNP	RQI	PDI	CHY	CHW	CHI	CCD	EVT	UTG

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

EVT	+ 0.99	CHW
UTG	+ 0.97	UTF
EVT	+ 0.97	PDI
CHW	+ 0.97	CHY
EVT	+ 0.97	CHY
UTG	+ 0.97	CHW

High negative correlations

CCD	- 0.38	UTF
CCD	- 0.3	RNP
UTG	- 0.27	CCD
CCD	- 0.21	CHY
CCD	- 0.19	CHW
EVT	- 0.17	CCD

Risk-Adjusted Indicators

There is a big difference between Dnp Fund performing well and Dnp Select 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 Dnp Select'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
UTF	0.53	0.10	(0.02)	0.50	0.36	(0.60)	1.26	(0.90)	3.14
RNP	0.60	0.08	0.01	0.31	0.66	(0.60)	1.71	(1.36)	4.66
RQI	0.74	0.04	(0.01)	0.22	0.80	(0.83)	1.85	(1.91)	5.14
PDI	0.33	0.09	(0.02)	0.43	0.31	(0.38)	0.89	(0.63)	3.63
CHY	0.53	0.15	0.07	0.52	0.38	(0.63)	1.38	(0.86)	3.35
CHW	0.57	0.21	0.19	0.60	0.00	(0.70)	1.85	(0.88)	3.46
CHI	0.54	0.10	0.03	0.35	0.45	(0.62)	1.71	(0.80)	4.17
CCD	0.61	(0.01)	(0.12)	0.14	0.80	(0.64)	1.32	(1.03)	4.97
EVT	0.64	0.09	0.06	0.28	0.61	(0.71)	1.59	(1.10)	4.43
UTG	0.65	0.23	0.14	0.83	0.41	(0.74)	1.54	(1.07)	3.53

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