Dreyfus High Correlations

Mutual Funds USA . 
Fund . Dreyfus High Yield
DPLTX Fund  USD 5.44  0.01  0.18%   
The current 90-days correlation between Dreyfus High Yield and Dreyfusstandish Global Fixed is 0.17 (i.e., Average diversification). The correlation of Dreyfus High 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 High Correlation With Market

Weak diversification

The correlation between Dreyfus High Yield and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus High Yield 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 High Yield. 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 estimate.

Moving together with Dreyfus Mutual Fund

  0.71DISSX Dreyfus Smallcap StockPairCorr
  0.71DISIX Dreyfus Smallcap StockPairCorr
  0.78THPBX Dreyfus Balanced OppPairCorr
  0.66DLDCX Dreyfus Natural ResourcesPairCorr
  0.67DLQAX Dreyfus Large CapPairCorr
  0.73DMCVX Dreyfus OpportunisticPairCorr
  0.75DNLDX Dreyfus Active MidcapPairCorr
  0.75DNLCX Dreyfus Active MidcapPairCorr
  0.66DNLAX Dreyfus Natural ResourcesPairCorr
  0.69RUDAX Dreyfusthe Boston PanyPairCorr
  0.72AVGCX Dynamic Total ReturnPairCorr
  0.74AVGAX Dynamic Total ReturnPairCorr
  0.69DQICX Dreyfus Equity IncomePairCorr

Moving against Dreyfus Mutual Fund

  0.44DIECX Dreyfus InternationalPairCorr
  0.44DIEAX Dreyfus InternationalPairCorr
  0.38DISCX International StockPairCorr
  0.37DISAX International StockPairCorr
  0.36DIBCX Dreyfus InternationalPairCorr
  0.34DIBAX Dreyfus InternationalPairCorr
  0.31DIISX Dreyfus InternationalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus High 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 High'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
DHGCX  0.15 (0.01)(0.70)(0.22) 0.17 
(0.18)
 0.31 
(0.25)
 0.96 
DHGAX  0.17  0.00 (0.68) 0.16  0.15 
(0.20)
 0.34 
(0.24)
 0.98 
DHMBX  0.21  0.04 (0.18)(0.18) 0.31 
(0.26)
 0.46 
(0.45)
 2.09 
DHYCX  0.20  0.01 (0.21) 0.22  0.32 
(0.27)
 0.54 
(0.44)
 2.18 
DHYAX  0.21  0.01 (0.21) 0.28  0.33 
(0.26)
 0.45 
(0.45)
 2.18 
DZNJX  0.16  0.03 (0.29)(0.11) 0.21 
(0.22)
 0.34 
(0.34)
 1.53 
DIBCX  0.34 (0.04) 0.00  0.44  0.00 
 0.00 
 0.68 
(0.73)
 2.26 
DIBAX  0.34 (0.08) 0.00 (0.72) 0.00 
 0.00 
 0.61 
(0.69)
 2.28 
DIECX  0.66 (0.15) 0.00 (0.25) 0.00 
 0.00 
 1.03 
(1.43)
 3.76 
DIEAX  0.66 (0.14) 0.00 (0.24) 0.00 
 0.00 
 1.03 
(1.42)
 3.75 

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