Dreyfus Opportunistic Correlations

Mutual Funds . USA . 
Fund . Dreyfus Opportunistic Small
DOPIX Fund  USD 34.15  0.16  0.47%   
The current 90-days correlation between Dreyfus Opportunistic and Vanguard Small Cap Index is 0.94 (i.e., Almost no diversification). The correlation of Dreyfus Opportunistic 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 Opportunistic Correlation With Market

Very poor diversification

The correlation between Dreyfus Opportunistic Small and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Opportunistic Small 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 Opportunistic Small. 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 gross domestic product.

Moving together with Dreyfus Mutual Fund

  0.89SSETX Dreyfusthe Boston PanyPairCorr
  0.89SSYGX Dreyfusthe Boston PanyPairCorr
  0.95STSVX Dreyfusthe Boston PanyPairCorr
  0.86DLACX Dreyfus Large CapPairCorr
  0.88SDSCX Dreyfusthe Boston PanyPairCorr
  0.79DLDYX Dreyfus Natural ResourcesPairCorr
  0.79DLDRX Dreyfus Natural ResourcesPairCorr
  0.64DLHRX Dreyfus High YieldPairCorr
  0.86DLQIX Dreyfus Large CapPairCorr
  0.92DMCYX Dreyfus OpportunisticPairCorr
  0.94DMIDX Dreyfus Midcap IndexPairCorr
  0.91DNLYX Dreyfus Active MidcapPairCorr
  0.91DNLRX Dreyfus Active MidcapPairCorr
  0.87DPTRX Dreyfus Tax ManagedPairCorr
  0.64DPWRX Dreyfus Worldwide GrowthPairCorr
  0.79AVGYX Dynamic Total ReturnPairCorr
  0.79AVGRX Dynamic Total ReturnPairCorr
  0.85DQIYX Dreyfus Equity IncomePairCorr
  0.85DQIRX Dreyfus Equity IncomePairCorr
  0.89DRGYX Dreyfus Strategic ValuePairCorr
  0.89DRGVX Dreyfus Strategic ValuePairCorr

Moving against Dreyfus Mutual Fund

  0.52DIBRX Dreyfus InternationalPairCorr
  0.52DIBYX Dreyfus InternationalPairCorr
  0.43DIEYX Dreyfus InternationalPairCorr
  0.43DIERX Dreyfus InternationalPairCorr
  0.36DISRX International StockPairCorr
  0.36DISYX International StockPairCorr
  0.32DINIX Dreyfus InternationalPairCorr
  0.36NIEYX Dreyfus/newton InternationalPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Opportunistic 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 Opportunistic'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VSMAX  0.74  0.03  0.06  0.15  0.68 
(0.83)
 1.62 
(1.25)
 5.36 
VSCIX  0.74  0.03  0.06  0.15  0.68 
(0.83)
 1.62 
(1.24)
 5.35 
VSCPX  0.74  0.03  0.06  0.15  0.68 
(0.83)
 1.62 
(1.25)
 5.35 
NAESX  0.74  0.03  0.06  0.15  0.68 
(0.82)
 1.62 
(1.25)
 5.35 
FSSNX  0.91 (0.03) 0.03  0.11  0.90 
(0.97)
 2.11 
(1.61)
 7.62 
DFSTX  0.85 (0.02) 0.03  0.11  0.80 
(0.94)
 1.89 
(1.45)
 7.11 
PASVX  0.75 (0.01) 0.02  0.12  0.68 
(0.79)
 1.74 
(1.22)
 6.47 
PRVIX  0.75 (0.01) 0.03  0.12  0.68 
(0.80)
 1.73 
(1.23)
 6.48 
TRZVX  0.75 (0.01) 0.03  0.12  0.67 
(0.80)
 1.73 
(1.23)
 6.48 
PRSVX  0.75 (0.01) 0.03  0.12  0.68 
(0.80)
 1.73 
(1.23)
 6.48 

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