Davis Financial Correlations

Mutual Funds . USA . 
Fund . Davis Financial Fund
RPFGX Fund  USD 66.88  1.71  2.62%   
The current 90-days correlation between Davis Financial and Small Pany Growth is 0.8 (i.e., Very poor diversification). The correlation of Davis Financial 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 Financial Correlation With Market

Good diversification

The correlation between Davis Financial Fund and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis Financial Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Davis Financial 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 price.

Moving together with Davis Mutual Fund

  0.98VFAIX Vanguard Financials IndexPairCorr
  0.94FRBCX Regional BankPairCorr
  0.94JRGRX Regional BankPairCorr
  0.98PRISX T Rowe PricePairCorr
  0.97FIDCX Financial IndustriesPairCorr
  0.98JFDRX Financial IndustriesPairCorr
  0.99TFIFX T Rowe PricePairCorr
  1.0DVFYX Davis FinancialPairCorr
  1.0DFFCX Davis FinancialPairCorr
  0.89WRHIX Ivy High IncomePairCorr
  0.89WHIAX Ivy High IncomePairCorr
  0.91IHIFX Ivy High IncomePairCorr
  0.91IVHIX Ivy High IncomePairCorr
  0.71IBM International BusinessPairCorr
  0.84HPQ HP IncPairCorr
  0.72MSFT MicrosoftPairCorr
  0.81BA BoeingPairCorr
  0.95BAC Bank of AmericaPairCorr
  0.93GE GE AerospacePairCorr
  0.71HD Home DepotPairCorr
  0.77AA Alcoa Corp Earnings Call This WeekPairCorr
  0.83AXP American ExpressPairCorr

Moving against Davis Mutual Fund

  0.31MGOIX Mainstay GovernmentPairCorr
  0.48VZ Verizon CommunicationsPairCorr
  0.46KO Coca ColaPairCorr
  0.4T ATT Inc Earnings Call This WeekPairCorr
  0.33FMUSX Federated MunicipalPairCorr

Related Correlations Analysis

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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   
FUIEVX
+ 0.95
WRLDX
FMFTX
+ 0.94
FUIEVX
FMFTX
+ 0.92
WRLDX
FTUFOX
+ 0.89
CPUCX
CPUCX
+ 0.86
IAADX
FMFTX
+ 0.82
MSSGX
  
High negative correlations   
FTUFOX
- 0.23
MSSGX

Risk-Adjusted Indicators

There is a big difference between Davis Mutual Fund performing well and Davis Financial 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 Financial'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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