Dodge Stock Correlations
DODGX Fund | USD 247.35 0.73 0.30% |
The correlation of Dodge Stock 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Dodge Stock moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dodge Stock Fund moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Poor diversification
The correlation between Dodge Stock Fund and NYA is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dodge Stock Fund and NYA in the same portfolio, assuming nothing else is changed.
Dodge |
The ability to find closely correlated positions to Dodge Stock could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dodge Stock when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Dodge Stock - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Dodge Stock Fund to buy it.
Moving together with Dodge Mutual Fund
0.95 | DODFX | Dodge International Stock | PairCorr |
0.89 | DODEX | Dodge Cox Emerging | PairCorr |
0.96 | DOXGX | Dodge Cox Stock | PairCorr |
0.98 | DOXWX | Dodge Cox Global | PairCorr |
0.97 | VVIAX | Vanguard Value Index | PairCorr |
0.93 | FFMMX | American Funds American | PairCorr |
0.93 | FFFMX | American Funds American | PairCorr |
0.94 | AMRMX | American Mutual | PairCorr |
0.93 | AMFFX | American Mutual | PairCorr |
0.93 | AMFCX | American Mutual | PairCorr |
0.97 | VIVAX | Vanguard Value Index | PairCorr |
0.96 | VIVIX | Vanguard Value Index | PairCorr |
0.63 | IWRFX | Voya Russia Fund | PairCorr |
0.63 | LETRX | Voya Russia Fund | PairCorr |
0.64 | IIRFX | Voya Russia Fund | PairCorr |
Related Correlations Analysis
Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Dodge Mutual Fund performing well and Dodge Stock 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 Dodge Stock'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
DODFX | 0.48 | (0.02) | (0.05) | 0.04 | 0.61 | 0.91 | 2.74 | |||
DODEX | 0.61 | 0.04 | (0.01) | 0.61 | 0.80 | 1.18 | 3.94 | |||
DODBX | 0.38 | (0.02) | (0.06) | 0.03 | 0.57 | 0.64 | 3.76 | |||
DODWX | 0.46 | 0.00 | (0.01) | 0.06 | 0.66 | 0.84 | 2.76 | |||
DODLX | 0.28 | (0.06) | 0.00 | (0.13) | 0.00 | 0.38 | 1.85 | |||
DODIX | 0.33 | (0.06) | 0.00 | (0.13) | 0.00 | 0.56 | 2.34 | |||
DOXLX | 0.29 | (0.05) | 0.00 | (0.78) | 0.00 | 0.38 | 1.95 | |||
DOXIX | 0.33 | (0.05) | 0.00 | (0.75) | 0.00 | 0.56 | 2.34 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Dodge Stock without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
Run Idea Optimizer Now
Idea OptimizerUse advanced portfolio builder with pre-computed micro ideas to build optimal portfolio |
All Next | Launch Module |
Already Invested in Dodge Stock Fund?
The danger of trading Dodge Stock Fund is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Dodge Stock is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Dodge Stock. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Dodge Stock Fund is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Dodge Stock Fund. Also, note that the market value of any mutual fund could be tightly coupled with the direction of predictive economic indicators such as signals in price. Note that the Dodge Stock Fund information on this page should be used as a complementary analysis to other Dodge Stock's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.