Davis Select Correlations

DFNL Etf

USD 46.33 0.39 0.83%

The current 90-days correlation between Davis Select Financial and Invesco SP 500 is 0.84 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Davis Select moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Davis Select Financial moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Davis Select Correlation With Market

Poor diversification

The correlation between Davis Select Financial and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis Select Financial and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Davis Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Davis Select Financial. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with Davis Etf

0.65	VFH	Vanguard Financials Index	Pair Corr
0.63	KBE	SPDR SP Bank	Pair Corr
0.71	IYF	iShares Financials ETF	Pair Corr
0.66	FNCL	Fidelity MSCI Financials	Pair Corr
0.65	IYG	iShares Financial	Pair Corr
0.93	FXO	First Trust Financials	Pair Corr
0.72	IAT	iShares Regional Banks	Pair Corr
0.95	IXG	iShares Global Financials	Pair Corr
0.67	DIA	SPDR Dow Jones	Pair Corr

Moving against Davis Etf

0.83	VXX	iPath Series B Buyout Trend	Pair Corr
0.83	VIXY	ProShares VIX Short Buyout Trend	Pair Corr

Related Correlations Analysis

	DINT	DEHP	DFJ	RWX	BINV	EIDO	XMVM	PALC	TLTE	RSPF
DINT		0.71	0.54	0.57	0.57	-0.02	0.6	0.73	0.65	0.25	DINT
DEHP	0.71		0.95	0.95	0.95	-0.53	0.83	0.94	0.99	-0.43	DEHP
DFJ	0.54	0.95		0.97	0.99	-0.59	0.89	0.9	0.97	-0.56	DFJ
RWX	0.57	0.95	0.97		0.98	-0.6	0.84	0.89	0.96	-0.54	RWX
BINV	0.57	0.95	0.99	0.98		-0.6	0.9	0.91	0.97	-0.52	BINV
EIDO	-0.02	-0.53	-0.59	-0.6	-0.6		-0.53	-0.44	-0.56	0.56	EIDO
XMVM	0.6	0.83	0.89	0.84	0.9	-0.53		0.9	0.84	-0.27	XMVM
PALC	0.73	0.94	0.9	0.89	0.91	-0.44	0.9		0.93	-0.23	PALC
TLTE	0.65	0.99	0.97	0.96	0.97	-0.56	0.84	0.93		-0.49	TLTE
RSPF	0.25	-0.43	-0.56	-0.54	-0.52	0.56	-0.27	-0.23	-0.49		RSPF
	DINT	DEHP	DFJ	RWX	BINV	EIDO	XMVM	PALC	TLTE	RSPF

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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

TLTE	+ 0.99	DEHP
BINV	+ 0.99	DFJ
BINV	+ 0.98	RWX
RWX	+ 0.97	DFJ
TLTE	+ 0.97	DFJ
TLTE	+ 0.97	BINV

High negative correlations

EIDO	- 0.6	BINV
EIDO	- 0.6	RWX
EIDO	- 0.59	DFJ
TLTE	- 0.56	EIDO
RSPF	- 0.56	DFJ
RSPF	- 0.54	RWX

Davis Select Constituents Risk-Adjusted Indicators

There is a big difference between Davis Etf performing well and Davis Select ETF 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 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
DINT	0.73	0.02	0.01	(0.11)	1.08	(0.73)	1.46	(1.68)	6.68
DEHP	0.89	0.18	0.13	(0.87)	1.20	(0.91)	1.72	(1.54)	8.32
DFJ	0.76	0.18	0.16	10.92	0.89	(0.82)	1.73	(1.18)	5.17
RWX	0.57	0.08	0.08	(2.46)	0.83	(0.53)	1.04	(1.42)	3.51
BINV	0.55	0.12	0.13	1.53	0.70	(0.58)	1.23	(0.84)	3.85
EIDO	0.83	(0.15)	0.00	1.51	0.00	0.00	1.29	(1.68)	11.23
XMVM	0.69	0.10	0.13	0.99	0.63	(0.84)	1.91	(1.24)	5.04
PALC	0.59	0.10	0.15	(0.83)	0.51	(0.67)	1.41	(0.99)	3.68
TLTE	0.72	0.18	0.16	(1.46)	0.91	(0.79)	1.79	(0.98)	6.53
RSPF	0.80	(0.01)	(0.01)	0.04	1.03	(0.86)	1.50	(1.81)	5.45

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