Delaware Small Correlations

DCCAX Fund

USD 30.78 0.56 1.79%

The current 90-days correlation between Delaware Small Cap and Qs Large Cap is 0.51 (i.e., Very weak 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

Almost no diversification

The correlation between Delaware Small Cap and DJI is 0.91 (i.e., Almost no 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 nation.

Moving together with Delaware Mutual Fund

0.79	WASAX	Ivy Asset Strategy	Pair Corr
0.9	WSGAX	Ivy Small Cap	Pair Corr
0.94	WCEAX	Ivy E Equity	Pair Corr
0.76	DLHCX	Delaware Healthcare	Pair Corr
0.87	DLHAX	Delaware Healthcare	Pair Corr
0.93	IPOAX	Ivy Emerging Markets	Pair Corr
0.87	IRSAX	Ivy Advantus Real	Pair Corr
0.81	FGIPX	First Investors Growth	Pair Corr
0.95	FGINX	First Investors Growth	Pair Corr
0.84	WHIAX	Ivy High Income	Pair Corr
0.68	DPREX	Delaware Reit	Pair Corr
0.65	DPRCX	Delaware Reit	Pair Corr
0.77	IBNAX	Ivy Balanced	Pair Corr
0.78	IVIAX	Ivy International	Pair Corr
0.81	IVINX	Ivy Global Growth	Pair Corr
0.8	FIUSX	First Investors Oppo	Pair Corr
0.83	FIVUX	First Investors Oppo	Pair Corr
0.8	IVOAX	Ivy Mid Cap	Pair Corr
0.91	IEYAX	Ivy Energy Fund	Pair Corr
0.86	DTICX	Delaware Limited Term	Pair Corr
0.74	WLGAX	Ivy Large Cap	Pair Corr
0.84	DTRIX	Delaware Limited Term	Pair Corr
0.85	DCCCX	Delaware Small Cap	Pair Corr
0.75	WMGAX	Ivy Mid Cap	Pair Corr

Moving against Delaware Mutual Fund

0.43	DVHCX	Delaware National High	Pair Corr
0.33	DUSCX	Delaware Tax Free	Pair Corr
0.33	DVFNX	Delaware Tax Free	Pair Corr

Related Correlations Analysis

	PLAAX	AFNIX	PBLIX	ARTQX	SMPIX	LMUSX
PLAAX		0.87	0.77	0.85	0.77	0.93	PLAAX
AFNIX	0.87		0.85	0.82	0.88	0.88	AFNIX
PBLIX	0.77	0.85		0.85	0.87	0.9	PBLIX
ARTQX	0.85	0.82	0.85		0.67	0.89	ARTQX
SMPIX	0.77	0.88	0.87	0.67		0.83	SMPIX
LMUSX	0.93	0.88	0.9	0.89	0.83		LMUSX
	PLAAX	AFNIX	PBLIX	ARTQX	SMPIX	LMUSX

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
PLAAX	1.28	0.45	0.33	3.50	0.60	(1.54)	1.46	(1.92)	37.01
AFNIX	0.68	0.21	0.30	0.37	0.00	(0.88)	0.92	(0.94)	16.68
PBLIX	0.49	0.01	(0.01)	0.09	0.59	(0.51)	1.03	(1.12)	2.93
ARTQX	0.82	0.09	0.12	0.15	0.62	(1.02)	1.86	(1.10)	10.44
SMPIX	2.59	0.29	0.10	0.21	3.00	(2.79)	4.70	(5.50)	28.59
LMUSX	0.60	0.05	0.03	0.13	0.74	(0.61)	1.26	(1.35)	4.94

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