Dreyfus Intermediate Correlations

DITEX Fund

USD 12.76 0.02 0.16%

The current 90-days correlation between Dreyfus Intermediate and Dreyfus Short Intermediate is 0.88 (i.e., Very poor diversification). The correlation of Dreyfus Intermediate 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 Intermediate Correlation With Market

Very good diversification

The correlation between Dreyfus Intermediate Municipal and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Intermediate Municipal 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 Intermediate Municipal. 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 income.

Moving together with Dreyfus Mutual Fund

0.86	DHGCX	Dreyfusstandish Global	Pair Corr
0.87	DHGAX	Dreyfusstandish Global	Pair Corr
0.87	DHMBX	Dreyfus High Yield	Pair Corr
0.81	DHYCX	Dreyfus High Yield	Pair Corr
0.77	DHYAX	Dreyfus High Yield	Pair Corr
0.95	DZNJX	Dreyfus New Jersey	Pair Corr
0.71	DIBCX	Dreyfus International	Pair Corr
0.7	DIBAX	Dreyfus International	Pair Corr
0.97	DMBCX	Dreyfus Municipal Bond	Pair Corr
0.87	DMBAX	Dreyfus Short Interm	Pair Corr
0.88	DMBZX	Dreyfus Municipal Bond	Pair Corr
0.97	DMUCX	Dreyfus Amt Free	Pair Corr
0.95	DMUAX	Dreyfus Amt Free	Pair Corr
0.95	DNYAX	Dnyax	Pair Corr
0.83	BYSIX	Bny Mellon Short	Pair Corr
0.83	BYSAX	Bny Mellon Short	Pair Corr
0.98	PNYCX	Dreyfus New York	Pair Corr

Moving against Dreyfus Mutual Fund

0.44	DLQAX	Dreyfus Large Cap	Pair Corr
0.45	DREQX	Dreyfus Research Growth	Pair Corr
0.42	DQIAX	Dreyfus Equity Income	Pair Corr
0.42	DREVX	Dreyfus Fund	Pair Corr
0.41	DQICX	Dreyfus Equity Income	Pair Corr
0.33	DMCVX	Dreyfus Opportunistic	Pair Corr
0.32	RUDAX	Dreyfusthe Boston Pany	Pair Corr

Related Correlations Analysis

	DSIBX	DRGMX	FHIGX	AQUI	LBHIX	MSTSX	VIASP	RRTLX	OSHDF	70082LAB3
DSIBX		0.45	0.92	0.0	0.58	0.23	-0.07	0.44	0.16	-0.44	DSIBX
DRGMX	0.45		0.71	0.0	-0.28	-0.41	-0.51	-0.16	-0.42	-0.9	DRGMX
FHIGX	0.92	0.71		0.0	0.32	0.02	-0.21	0.28	0.0	-0.68	FHIGX
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
LBHIX	0.58	-0.28	0.32	0.0		0.68	0.29	0.75	0.35	0.27	LBHIX
MSTSX	0.23	-0.41	0.02	0.0	0.68		-0.05	0.86	0.04	0.26	MSTSX
VIASP	-0.07	-0.51	-0.21	0.0	0.29	-0.05		0.11	0.82	0.63	VIASP
RRTLX	0.44	-0.16	0.28	0.0	0.75	0.86	0.11		0.18	0.11	RRTLX
OSHDF	0.16	-0.42	0.0	0.0	0.35	0.04	0.82	0.18		0.49	OSHDF
70082LAB3	-0.44	-0.9	-0.68	0.0	0.27	0.26	0.63	0.11	0.49		70082LAB3
	DSIBX	DRGMX	FHIGX	AQUI	LBHIX	MSTSX	VIASP	RRTLX	OSHDF	70082LAB3

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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

FHIGX	+ 0.92	DSIBX
RRTLX	+ 0.86	MSTSX
OSHDF	+ 0.82	VIASP
RRTLX	+ 0.75	LBHIX
FHIGX	+ 0.71	DRGMX
MSTSX	+ 0.68	LBHIX

High negative correlations

70082LAB3	- 0.9	DRGMX
70082LAB3	- 0.68	FHIGX
VIASP	- 0.51	DRGMX
70082LAB3	- 0.44	DSIBX
OSHDF	- 0.42	DRGMX
MSTSX	- 0.41	DRGMX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Intermediate 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 Intermediate'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
DSIBX	0.05	0.00	(0.86)	0.07	0.00	(0.09)	0.08	(0.08)	0.47
DRGMX	0.22	(0.02)	0.00	0.46	0.00	0.00	0.39	(0.46)	1.18
FHIGX	0.15	0.02	(0.31)	(0.09)	0.20	(0.20)	0.33	(0.40)	1.39
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LBHIX	0.12	0.02	(0.44)	1.66	0.00	(0.28)	0.24	(0.24)	0.96
MSTSX	0.49	0.04	(0.14)	(0.75)	0.52	(0.61)	1.21	(1.02)	2.80
VIASP	0.75	0.08	(0.04)	(1.44)	1.13	(0.82)	2.28	(1.20)	7.18
RRTLX	0.23	0.01	(0.33)	0.38	0.25	(0.25)	0.48	(0.56)	1.36
OSHDF	39.65	22.84	0.00	(0.94)	0.00	0.00	0.00	0.00	1,329
70082LAB3	0.63	0.00	(0.12)	(0.21)	1.03	(0.68)	1.66	(1.19)	4.03

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