Deutsche E Correlations

SCDGX Fund

USD 39.88 0.30 0.76%

The current 90-days correlation between Deutsche E Equity and Fidelity Stock Selector is 0.14 (i.e., Average diversification). The correlation of Deutsche E 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.

Deutsche E Correlation With Market

Very poor diversification

The correlation between Deutsche E Equity and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Deutsche E Equity and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Deutsche E Equity. 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 census.

Moving together with Deutsche Mutual Fund

0.71	KTCCX	Deutsche Science And	Pair Corr
0.72	KTCAX	Deutsche Science And	Pair Corr
0.91	KTCIX	Deutsche Science And	Pair Corr
0.81	KTCSX	Deutsche Science And	Pair Corr
0.85	KTRAX	Deutsche Global Income	Pair Corr
0.96	KTRCX	Deutsche Global Income	Pair Corr
0.77	KTRIX	Deutsche Global Income	Pair Corr
0.68	NOTAX	Deutsche Strategic High	Pair Corr
0.65	NOTIX	Deutsche Strategic High	Pair Corr
0.96	KTRSX	Deutsche Global Income	Pair Corr
0.96	KTRZX	Deutsche Global Income	Pair Corr
0.67	KCTCX	Deutsche California Tax	Pair Corr
0.66	KCTAX	Deutsche California Tax	Pair Corr
0.72	SCEMX	Deutsche Enhanced	Pair Corr
0.65	SCINX	Deutsche Croci Inter	Pair Corr
0.73	SCGSX	Deutsche Capital Growth	Pair Corr
0.62	SCMAX	Deutsche Massachusetts	Pair Corr
0.63	SCMBX	Deutsche Managed Mun	Pair Corr
0.67	SCMTX	Deutsche Intermediate	Pair Corr
0.79	SCQGX	Deutsche Large Cap	Pair Corr
0.99	SCPIX	Deutsche Sp 500	Pair Corr
0.61	SUIAX	Deutsche Croci Inter	Pair Corr

Moving against Deutsche Mutual Fund

0.46	SRMCX	Deutsche Short Term	Pair Corr
0.33	SRMAX	Deutsche Short Term	Pair Corr

Related Correlations Analysis

	FSLVX	SWANX	RYPRX	ILLLX	QCSCX	USWGX	FSLSX	HYT	RYPNX	TCMSX
FSLVX		0.86	0.26	-0.34	0.59	0.9	0.78	0.64	0.34	0.73	FSLVX
SWANX	0.86		0.03	-0.25	0.5	0.97	0.65	0.54	0.36	0.76	SWANX
RYPRX	0.26	0.03		0.25	0.59	0.08	0.54	0.52	0.69	0.44	RYPRX
ILLLX	-0.34	-0.25	0.25		0.45	-0.19	0.19	-0.11	0.48	-0.08	ILLLX
QCSCX	0.59	0.5	0.59	0.45		0.57	0.88	0.53	0.75	0.62	QCSCX
USWGX	0.9	0.97	0.08	-0.19	0.57		0.71	0.55	0.38	0.75	USWGX
FSLSX	0.78	0.65	0.54	0.19	0.88	0.71		0.56	0.67	0.67	FSLSX
HYT	0.64	0.54	0.52	-0.11	0.53	0.55	0.56		0.4	0.53	HYT
RYPNX	0.34	0.36	0.69	0.48	0.75	0.38	0.67	0.4		0.74	RYPNX
TCMSX	0.73	0.76	0.44	-0.08	0.62	0.75	0.67	0.53	0.74		TCMSX
	FSLVX	SWANX	RYPRX	ILLLX	QCSCX	USWGX	FSLSX	HYT	RYPNX	TCMSX

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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

USWGX	+ 0.97	SWANX
USWGX	+ 0.9	FSLVX
FSLSX	+ 0.88	QCSCX
SWANX	+ 0.86	FSLVX
FSLSX	+ 0.78	FSLVX
TCMSX	+ 0.76	SWANX

High negative correlations

ILLLX	- 0.34	FSLVX
ILLLX	- 0.25	SWANX
USWGX	- 0.19	ILLLX
HYT	- 0.11	ILLLX
TCMSX	- 0.08	ILLLX

Risk-Adjusted Indicators

There is a big difference between Deutsche Mutual Fund performing well and Deutsche E 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 Deutsche E'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
FSLVX	0.49	0.05	(0.02)	1.11	0.56	(0.54)	1.10	(0.91)	3.18
SWANX	0.50	0.07	0.00	0.80	0.63	(0.52)	1.10	(1.01)	3.28
RYPRX	0.83	(0.06)	(0.04)	0.02	0.98	(0.92)	1.91	(1.57)	4.49
ILLLX	1.37	(0.03)	0.00	(0.08)	0.00	0.00	2.46	(3.56)	7.94
QCSCX	0.97	0.04	(0.01)	0.43	1.19	(1.03)	2.14	(2.11)	5.53
USWGX	0.52	0.06	0.00	0.85	0.74	(0.52)	1.09	(1.13)	3.39
FSLSX	0.82	0.04	(0.03)	0.82	1.01	(0.89)	1.76	(1.70)	5.14
HYT	0.39	(0.01)	(0.09)	0.04	0.48	(0.41)	0.76	(0.75)	2.48
RYPNX	1.11	0.02	0.04	0.08	1.35	(1.12)	2.63	(2.61)	6.69
TCMSX	1.09	0.08	0.08	0.12	1.31	(1.19)	2.37	(1.95)	6.96

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