Dreyfus Natural Correlations

DNLAX Fund

USD 49.42 0.49 1.00%

The current 90-days correlation between Dreyfus Natural Resources and 1919 Financial Services is 0.35 (i.e., Weak diversification). The correlation of Dreyfus Natural 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 Natural Correlation With Market

Very weak diversification

The correlation between Dreyfus Natural Resources and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Natural Resources 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 Natural Resources. 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

0.75	DISSX	Dreyfus Smallcap Stock	Pair Corr
0.75	DISIX	Dreyfus Smallcap Stock	Pair Corr
0.83	THPBX	Dreyfus Balanced Opp	Pair Corr
1.0	DLDCX	Dreyfus Natural Resources	Pair Corr
0.81	DLQAX	Dreyfus Large Cap	Pair Corr
0.81	DMCVX	Dreyfus Opportunistic	Pair Corr
0.82	DNLDX	Dreyfus Active Midcap	Pair Corr
0.82	DNLCX	Dreyfus Active Midcap	Pair Corr
0.81	RUDAX	Dreyfusthe Boston Pany	Pair Corr
0.66	DPLTX	Dreyfus High Yield	Pair Corr
0.65	DPTAX	Dreyfus Tax Managed	Pair Corr
0.82	DQICX	Dreyfus Equity Income	Pair Corr

Moving against Dreyfus Mutual Fund

0.53	DIBCX	Dreyfus International	Pair Corr
0.52	DIBAX	Dreyfus International	Pair Corr
0.43	DHGCX	Dreyfusstandish Global	Pair Corr
0.41	DHGAX	Dreyfusstandish Global	Pair Corr
0.4	DIECX	Dreyfus International	Pair Corr
0.39	DIEAX	Dreyfus International	Pair Corr

Related Correlations Analysis

	SBFAX	ICFAX	VFAIX	MSVIX	IAAEX	FTIXX
SBFAX		0.71	1.0	0.83	0.88	0.21	SBFAX
ICFAX	0.71		0.71	0.7	0.68	0.14	ICFAX
VFAIX	1.0	0.71		0.84	0.89	0.21	VFAIX
MSVIX	0.83	0.7	0.84		0.92	0.15	MSVIX
IAAEX	0.88	0.68	0.89	0.92		0.02	IAAEX
FTIXX	0.21	0.14	0.21	0.15	0.02		FTIXX
	SBFAX	ICFAX	VFAIX	MSVIX	IAAEX	FTIXX

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Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Natural 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 Natural'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
SBFAX	0.80	0.06	0.11	0.17	0.51	(0.96)	1.72	(1.44)	8.60
ICFAX	0.93	(0.22)	0.00	(0.10)	0.00	0.00	1.43	(1.23)	5.10
VFAIX	0.78	0.06	0.12	0.17	0.51	(0.93)	1.77	(1.22)	8.51
MSVIX	0.78	(0.06)	(0.03)	0.08	0.83	(0.86)	1.78	(1.41)	5.71
IAAEX	0.54	(0.03)	(0.10)	0.09	0.53	(0.60)	1.03	(0.98)	3.17
FTIXX	0.03	0.01	0.00	(4.42)	0.00	0.00	0.00	0.00	1.01

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