Dreyfus High Correlations

DHYAX Fund

USD 11.19 0.03 0.27%

The current 90-days correlation between Dreyfus High Yield and Needham Aggressive Growth is -0.27 (i.e., Very good diversification). The correlation of Dreyfus High 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.

Dreyfus High Correlation With Market

Very good diversification

The correlation between Dreyfus High Yield and DJI is -0.31 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus High Yield 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 Dreyfus High Yield. 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 Dreyfus Mutual Fund

1.0	DHMBX	Dreyfus High Yield	Pair Corr
0.99	DHYCX	Dreyfus High Yield	Pair Corr
0.92	DZNJX	Dreyfus New Jersey	Pair Corr
0.87	DITEX	Dreyfus Intermediate	Pair Corr
0.94	DMBCX	Dreyfus Municipal Bond	Pair Corr
0.96	DMBAX	Dreyfus Short Interm	Pair Corr
0.95	DMBZX	Dreyfus Municipal Bond	Pair Corr
0.93	DMUCX	Dreyfus Amt Free	Pair Corr
0.95	DMUAX	Dreyfus Amt Free	Pair Corr
0.94	DNYAX	Dnyax	Pair Corr
0.68	BYSIX	Bny Mellon Short	Pair Corr
0.63	BYSAX	Bny Mellon Short	Pair Corr
0.91	PNYCX	Dreyfus New York	Pair Corr

Related Correlations Analysis

	NEAIX	CYBAX	SGYAX	TAHYX	LBETX	AGDAX	AGTFX
NEAIX		0.55	0.49	0.52	0.76	0.58	0.86	NEAIX
CYBAX	0.55		0.77	0.94	0.65	0.93	0.67	CYBAX
SGYAX	0.49	0.77		0.84	0.83	0.92	0.8	SGYAX
TAHYX	0.52	0.94	0.84		0.68	0.96	0.72	TAHYX
LBETX	0.76	0.65	0.83	0.68		0.78	0.95	LBETX
AGDAX	0.58	0.93	0.92	0.96	0.78		0.8	AGDAX
AGTFX	0.86	0.67	0.8	0.72	0.95	0.8		AGTFX
	NEAIX	CYBAX	SGYAX	TAHYX	LBETX	AGDAX	AGTFX

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Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus High 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 Dreyfus High'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
NEAIX	1.05	(0.10)	(0.03)	0.06	1.27	(1.11)	2.19	(2.27)	6.71
CYBAX	0.10	0.00	(0.88)	0.21	0.00	(0.13)	0.24	(0.16)	0.73
SGYAX	0.14	0.03	(0.55)	0.53	0.00	(0.25)	0.28	(0.14)	1.28
TAHYX	0.11	0.01	(0.71)	0.47	0.00	(0.16)	0.23	(0.23)	0.68
LBETX	0.22	0.00	(0.23)	0.12	0.21	(0.26)	0.45	(0.52)	1.42
AGDAX	0.12	0.02	(0.49)	0.52	0.00	(0.24)	0.29	(0.28)	0.87
AGTFX	0.52	(0.03)	(0.09)	0.09	0.55	(0.61)	1.15	(0.88)	3.06

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Dreyfus High Correlations

Dreyfus High Correlation With Market

Very good diversification

Moving together with Dreyfus Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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