Dnp Select Correlations

DNP Fund

USD 10.55 0.12 1.15%

The current 90-days correlation between Dnp Select Income and T Rowe Price is 0.07 (i.e., Significant 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

Weak diversification

The correlation between Dnp Select Income and DJI is 0.39 (i.e., 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 inflation.

Moving together with Dnp Fund

0.74	AMECX	Income Fund	Pair Corr
0.68	GHAIX	Global Hard Assets	Pair Corr
0.65	CDSRX	Calvert Short Duration	Pair Corr
0.9	MXSFX	Great West Real	Pair Corr
0.76	BCTIX	California Intermediate-ter	Pair Corr
0.67	RBEHX	American Funds 2020	Pair Corr
0.62	MADRX	Madison Funds	Pair Corr
0.64	FPTPX	American Funds Conse	Pair Corr
0.77	IORJX	Aim Taxexempt Funds	Pair Corr
0.7	FEIPX	Fa529 Eq In	Pair Corr
0.65	MGICX	Mfs International Value	Pair Corr
0.73	CMMCX	Calvert Mortgage Access	Pair Corr
0.75	JEMRX	Jpmorgan Emerging Markets	Pair Corr

Moving against Dnp Fund

0.75

PJFZX

Prudential Jennison

Pair Corr

Related Correlations Analysis

	OISGX	SPPP	BMEZ	NML	TGDVX	NMIAX	OMAH	BUI	PRCNX
OISGX		0.78	0.78	0.43	0.85	0.78	0.27	0.47	0.71	OISGX
SPPP	0.78		0.66	0.25	0.62	0.78	0.0	0.38	0.73	SPPP
BMEZ	0.78	0.66		0.31	0.58	0.48	0.18	0.27	0.45	BMEZ
NML	0.43	0.25	0.31		0.77	0.32	0.12	0.94	0.68	NML
TGDVX	0.85	0.62	0.58	0.77		0.76	0.41	0.79	0.88	TGDVX
NMIAX	0.78	0.78	0.48	0.32	0.76		0.33	0.47	0.82	NMIAX
OMAH	0.27	0.0	0.18	0.12	0.41	0.33		0.16	0.27	OMAH
BUI	0.47	0.38	0.27	0.94	0.79	0.47	0.16		0.83	BUI
PRCNX	0.71	0.73	0.45	0.68	0.88	0.82	0.27	0.83		PRCNX
	OISGX	SPPP	BMEZ	NML	TGDVX	NMIAX	OMAH	BUI	PRCNX

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

BUI	+ 0.94	NML
PRCNX	+ 0.88	TGDVX
TGDVX	+ 0.85	OISGX
PRCNX	+ 0.83	BUI
PRCNX	+ 0.82	NMIAX
BUI	+ 0.79	TGDVX

High negative correlations

OMAH

- 0.0

SPPP

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
OISGX	0.92	0.05	0.05	0.10	0.92	(1.15)	2.03	(2.03)	5.71
SPPP	3.23	0.40	0.08	0.32	5.14	(3.31)	6.99	(7.55)	29.95
BMEZ	0.72	0.06	(0.01)	2.03	0.68	(0.89)	2.04	(1.26)	4.90
NML	0.84	0.25	0.19	2.75	0.78	(0.99)	2.15	(1.66)	5.34
TGDVX	0.62	0.06	0.07	0.13	0.59	(0.73)	1.36	(1.03)	3.89
NMIAX	0.76	0.12	0.15	0.18	0.61	(0.94)	1.15	(1.34)	13.61
OMAH	0.42	0.02	(0.08)	(0.49)	0.54	(0.43)	0.82	(1.02)	2.47
BUI	0.67	0.25	0.18	(1.30)	0.60	(0.74)	1.83	(1.20)	5.62
PRCNX	0.69	0.33	0.46	0.95	0.00	(0.90)	1.29	(0.71)	12.21

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