Dreyfus Equity Correlations

DQIRX Fund

USD 33.28 0.18 0.54%

The current 90-days correlation between Dreyfus Equity Income and Vanguard Value Index is 0.83 (i.e., Very poor diversification). The correlation of Dreyfus Equity 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 Equity Correlation With Market

Very poor diversification

The correlation between Dreyfus Equity Income and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Equity Income 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 Equity Income. 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 metropolitan statistical area.

Moving together with Dreyfus Mutual Fund

0.88	SSETX	Dreyfusthe Boston Pany	Pair Corr
0.88	SSYGX	Dreyfusthe Boston Pany	Pair Corr
0.93	STSVX	Dreyfusthe Boston Pany	Pair Corr
0.99	DLACX	Dreyfus Large Cap	Pair Corr
0.89	SDSCX	Dreyfusthe Boston Pany	Pair Corr
0.82	DLDYX	Dreyfus Natural Resources	Pair Corr
0.82	DLDRX	Dreyfus Natural Resources	Pair Corr
0.66	DLHRX	Dreyfus High Yield	Pair Corr
0.99	DLQIX	Dreyfus Large Cap	Pair Corr
0.92	DMCYX	Dreyfus Opportunistic	Pair Corr
0.93	DMIDX	Dreyfus Midcap Index	Pair Corr
0.94	DNLYX	Dreyfus Active Midcap	Pair Corr
0.94	DNLRX	Dreyfus Active Midcap	Pair Corr
0.85	DOPIX	Dreyfus Opportunistic	Pair Corr
0.78	DPTRX	Dreyfus Tax Managed	Pair Corr
0.76	AVGYX	Dynamic Total Return	Pair Corr
0.76	AVGRX	Dynamic Total Return	Pair Corr
1.0	DQIYX	Dreyfus Equity Income	Pair Corr

Moving against Dreyfus Mutual Fund

0.77	DIBRX	Dreyfus International	Pair Corr
0.77	DIBYX	Dreyfus International	Pair Corr
0.66	DIEYX	Dreyfus International	Pair Corr
0.66	DIERX	Dreyfus International	Pair Corr
0.57	SDGIX	Dreyfusstandish Global	Pair Corr
0.54	DISRX	International Stock	Pair Corr
0.54	DISYX	International Stock	Pair Corr
0.52	DINIX	Dreyfus International	Pair Corr
0.75	GPNIX	Dreyfus Gnma	Pair Corr
0.57	DSDYX	Dreyfusstandish Global	Pair Corr
0.56	NIEYX	Dreyfus/newton International	Pair Corr
0.56	SNIEX	Dreyfus/newton International	Pair Corr
0.32	DRLIX	Dreyfus Global Real	Pair Corr
0.32	DRLYX	Dreyfus Global Real	Pair Corr

Related Correlations Analysis

	VVIAX	DOXGX	FFMMX	FFFMX	AMRMX	AMFFX	AMFCX	DODGX	VIVAX
VVIAX		0.95	0.96	0.96	0.96	0.96	0.95	0.95	1.0	VVIAX
DOXGX	0.95		0.88	0.88	0.87	0.87	0.86	1.0	0.95	DOXGX
FFMMX	0.96	0.88		1.0	1.0	1.0	1.0	0.88	0.96	FFMMX
FFFMX	0.96	0.88	1.0		1.0	1.0	1.0	0.88	0.96	FFFMX
AMRMX	0.96	0.87	1.0	1.0		1.0	1.0	0.87	0.96	AMRMX
AMFFX	0.96	0.87	1.0	1.0	1.0		1.0	0.87	0.96	AMFFX
AMFCX	0.95	0.86	1.0	1.0	1.0	1.0		0.86	0.95	AMFCX
DODGX	0.95	1.0	0.88	0.88	0.87	0.87	0.86		0.95	DODGX
VIVAX	1.0	0.95	0.96	0.96	0.96	0.96	0.95	0.95		VIVAX
	VVIAX	DOXGX	FFMMX	FFFMX	AMRMX	AMFFX	AMFCX	DODGX	VIVAX

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Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Equity 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 Equity'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
VVIAX	0.51	(0.01)	(0.06)	0.12	0.38	(0.61)	1.05	(0.83)	3.45
DOXGX	0.52	(0.02)	(0.06)	0.11	0.44	(0.58)	0.94	(0.93)	4.22
FFMMX	0.46	(0.02)	(0.12)	0.10	0.42	(0.52)	0.90	(0.86)	2.66
FFFMX	0.46	(0.02)	(0.12)	0.10	0.42	(0.52)	0.90	(0.86)	2.68
AMRMX	0.46	(0.02)	(0.12)	0.10	0.42	(0.52)	0.91	(0.86)	2.66
AMFFX	0.46	(0.02)	(0.12)	0.10	0.43	(0.52)	0.90	(0.86)	2.68
AMFCX	0.46	(0.02)	(0.13)	0.09	0.43	(0.51)	0.90	(0.88)	2.68
DODGX	0.52	(0.02)	(0.06)	0.11	0.44	(0.58)	0.94	(0.94)	4.22
VIVAX	0.51	(0.01)	(0.06)	0.12	0.38	(0.61)	1.05	(0.83)	3.45

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