Dreyfus Short Correlations

DMBAX Fund

USD 12.81 0.01 0.08%

The current 90-days correlation between Dreyfus Short Interm and The Short Term is 0.33 (i.e., Weak diversification). The correlation of Dreyfus Short 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 Short Correlation With Market

Very good diversification

The correlation between Dreyfus Short Intermediate 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 Short Intermediate 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 Short Intermediate. 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

0.96	DHMBX	Dreyfus High Yield	Pair Corr
0.88	DHYCX	Dreyfus High Yield	Pair Corr
0.88	DHYAX	Dreyfus High Yield	Pair Corr
0.93	DZNJX	Dreyfus New Jersey	Pair Corr
0.87	DITEX	Dreyfus Intermediate	Pair Corr
0.93	DMBCX	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
0.74	BYSIX	Bny Mellon Short	Pair Corr
0.69	BYSAX	Bny Mellon Short	Pair Corr
0.91	PNYCX	Dreyfus New York	Pair Corr

Related Correlations Analysis

	CFSTX	GPPSX	FTFZX	PRMDX	SUSAX	BXDCX	SWSFX
CFSTX		-0.19	0.52	0.57	-0.07	0.39	-0.18	CFSTX
GPPSX	-0.19		0.59	0.29	0.99	0.75	0.85	GPPSX
FTFZX	0.52	0.59		0.75	0.66	0.75	0.39	FTFZX
PRMDX	0.57	0.29	0.75		0.35	0.63	0.2	PRMDX
SUSAX	-0.07	0.99	0.66	0.35		0.79	0.84	SUSAX
BXDCX	0.39	0.75	0.75	0.63	0.79		0.68	BXDCX
SWSFX	-0.18	0.85	0.39	0.2	0.84	0.68		SWSFX
	CFSTX	GPPSX	FTFZX	PRMDX	SUSAX	BXDCX	SWSFX

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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

SUSAX	+ 0.99	GPPSX
SWSFX	+ 0.85	GPPSX
SWSFX	+ 0.84	SUSAX
BXDCX	+ 0.79	SUSAX
BXDCX	+ 0.75	GPPSX
PRMDX	+ 0.75	FTFZX

High negative correlations

GPPSX	- 0.19	CFSTX
SWSFX	- 0.18	CFSTX
SUSAX	- 0.07	CFSTX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Short 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 Short'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
CFSTX	0.07	(0.01)	(1.22)	(0.20)	0.02	(0.09)	0.12	(0.12)	0.50
GPPSX	0.05	0.01	0.00	(0.48)	0.00	0.00	0.10	(0.10)	0.60
FTFZX	0.07	0.00	(0.66)	0.42	0.00	(0.13)	0.19	(0.10)	0.68
PRMDX	0.06	0.00	(0.49)	0.04	0.00	(0.20)	0.20	(0.19)	0.59
SUSAX	0.06	0.01	(1.13)	(0.97)	0.00	(0.15)	0.10	(0.10)	0.51
BXDCX	0.09	0.01	(0.87)	(0.57)	0.00	(0.16)	0.22	(0.11)	0.65
SWSFX	0.04	0.00	(1.18)	(0.50)	0.00	(0.17)	0.10	(0.10)	0.49

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