International Stock Correlations

DISRX Fund

USD 24.22 0.19 0.79%

The current 90-days correlation between International Stock and Federated Pennsylvania Municipal is 0.08 (i.e., Significant diversification). The correlation of International 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 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.

International Stock Correlation With Market

Very weak diversification

The correlation between International Stock Fund and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding International Stock Fund 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 International Stock Fund. 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 metropolitan statistical area.

Moving together with International Mutual Fund

0.84	DIBRX	Dreyfus International	Pair Corr
0.84	DIBYX	Dreyfus International	Pair Corr
0.97	DIEYX	Dreyfus International	Pair Corr
0.97	DIERX	Dreyfus International	Pair Corr
0.99	DINIX	Dreyfus International	Pair Corr
1.0	DISYX	International Stock	Pair Corr
0.74	DQEIX	Dreyfus Global Equity	Pair Corr

Moving against International Mutual Fund

0.69	SDSCX	Dreyfusthe Boston Pany	Pair Corr
0.68	SSETX	Dreyfusthe Boston Pany	Pair Corr
0.68	SSYGX	Dreyfusthe Boston Pany	Pair Corr
0.62	DMCYX	Dreyfus Opportunistic	Pair Corr
0.62	DNLYX	Dreyfus Active Midcap	Pair Corr
0.62	DNLRX	Dreyfus Active Midcap	Pair Corr
0.61	DLACX	Dreyfus Large Cap	Pair Corr
0.61	DLQIX	Dreyfus Large Cap	Pair Corr
0.61	DMIDX	Dreyfus Midcap Index	Pair Corr
0.58	STSVX	Dreyfusthe Boston Pany	Pair Corr
0.39	DLHRX	Dreyfus High Yield	Pair Corr
0.69	DBMYX	Dreyfusthe Boston Pany	Pair Corr
0.66	DRYQX	Dreyfus Research Growth	Pair Corr
0.63	DRGYX	Dreyfus Strategic Value	Pair Corr
0.63	DRGVX	Dreyfus Strategic Value	Pair Corr
0.54	DQIYX	Dreyfus Equity Income	Pair Corr
0.54	DQIRX	Dreyfus Equity Income	Pair Corr
0.54	DRTCX	The Dreyfus Sustainable	Pair Corr
0.54	DBORX	Dreyfus Balanced Opp	Pair Corr
0.54	DTCYX	The Dreyfus Sustainable	Pair Corr
0.51	AVGYX	Dynamic Total Return	Pair Corr
0.51	AVGRX	Dynamic Total Return	Pair Corr
0.36	DOPIX	Dreyfus Opportunistic	Pair Corr
0.36	DSCYX	Dreyfus Opportunistic	Pair Corr

Related Correlations Analysis

	PAMFX	ARTFX	LTXFX	ABIMX	GMOZX	LCPMX	BBIIX	ABNTX
PAMFX		0.05	0.97	0.98	0.32	0.62	0.96	0.78	PAMFX
ARTFX	0.05		0.01	0.05	0.84	0.71	0.0	-0.12	ARTFX
LTXFX	0.97	0.01		0.96	0.25	0.58	0.99	0.8	LTXFX
ABIMX	0.98	0.05	0.96		0.32	0.66	0.97	0.71	ABIMX
GMOZX	0.32	0.84	0.25	0.32		0.69	0.23	0.19	GMOZX
LCPMX	0.62	0.71	0.58	0.66	0.69		0.58	0.24	LCPMX
BBIIX	0.96	0.0	0.99	0.97	0.23	0.58		0.75	BBIIX
ABNTX	0.78	-0.12	0.8	0.71	0.19	0.24	0.75		ABNTX
	PAMFX	ARTFX	LTXFX	ABIMX	GMOZX	LCPMX	BBIIX	ABNTX

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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

BBIIX	+ 0.99	LTXFX
ABIMX	+ 0.98	PAMFX
LTXFX	+ 0.97	PAMFX
BBIIX	+ 0.97	ABIMX
BBIIX	+ 0.96	PAMFX
ABIMX	+ 0.96	LTXFX

High negative correlations

ABNTX	- 0.12	ARTFX
BBIIX	- 0.0	ARTFX

Risk-Adjusted Indicators

There is a big difference between International Mutual Fund performing well and International 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 International 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
PAMFX	0.14	0.02	(0.33)	(0.09)	0.18	(0.19)	0.30	(0.39)	1.30
ARTFX	0.12	0.03	(0.64)	0.58	0.00	(0.21)	0.33	(0.22)	1.01
LTXFX	0.09	0.01	(0.52)	0.00	0.11	(0.13)	0.20	(0.19)	0.78
ABIMX	0.19	0.03	(0.23)	(0.14)	0.26	(0.24)	0.40	(0.50)	1.73
GMOZX	0.13	0.01	(0.53)	0.18	0.00	(0.18)	0.28	(0.33)	0.72
LCPMX	0.16	0.04	(0.19)	(0.36)	0.16	(0.23)	0.45	(0.34)	2.03
BBIIX	0.12	0.01	(0.43)	(0.06)	0.14	(0.18)	0.29	(0.29)	1.17
ABNTX	0.14	(0.01)	(0.52)	(0.47)	0.18	(0.17)	0.29	(0.30)	0.88

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