Dreyfus Gnma Correlations

Mutual Funds USA . 
Fund . Dreyfus Gnma Fund
DRGMX Fund  USD 12.85  0.03  0.23%   
The current 90-days correlation between Dreyfus Gnma and Vanguard Intermediate Term Government is 0.96 (i.e., Almost no diversification). The correlation of Dreyfus Gnma 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 Gnma Correlation With Market

Good diversification

The correlation between Dreyfus Gnma Fund and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Gnma Fund 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 Gnma Fund. 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 population.

Moving together with Dreyfus Mutual Fund

  0.96DHGCX Dreyfusstandish GlobalPairCorr
  0.95DHGAX Dreyfusstandish GlobalPairCorr
  0.64DZNJX Dreyfus New JerseyPairCorr
  0.95DIBCX Dreyfus InternationalPairCorr
  0.95DIBAX Dreyfus InternationalPairCorr
  0.81DIECX Dreyfus InternationalPairCorr
  0.81DIEAX Dreyfus InternationalPairCorr
  0.73DIISX Dreyfus InternationalPairCorr
  0.71DISCX International StockPairCorr
  0.71DISAX International StockPairCorr
  0.8DITEX Dreyfus IntermediatePairCorr
  0.68DMBCX Dreyfus Municipal BondPairCorr
  0.62DMBZX Dreyfus Municipal BondPairCorr
  0.69DMUCX Dreyfus Amt FreePairCorr
  0.61DMUAX Dreyfus Amt FreePairCorr
  0.63DNYAX DnyaxPairCorr
  0.78BYSIX Bny Mellon ShortPairCorr
  0.85BYSAX Bny Mellon ShortPairCorr
  0.71PNYCX Dreyfus New YorkPairCorr

Moving against Dreyfus Mutual Fund

  0.77DLQAX Dreyfus Large CapPairCorr
  0.63THPBX Dreyfus Balanced OppPairCorr
  0.59DISSX Dreyfus Smallcap StockPairCorr
  0.59DISIX Dreyfus Smallcap StockPairCorr
  0.53DLDCX Dreyfus Natural ResourcesPairCorr
  0.79DREQX Dreyfus Research GrowthPairCorr
  0.76DREVX Dreyfus FundPairCorr
  0.75DQICX Dreyfus Equity IncomePairCorr
  0.75DQIAX Dreyfus Equity IncomePairCorr
  0.67DMCVX Dreyfus OpportunisticPairCorr
  0.67DNLDX Dreyfus Active MidcapPairCorr
  0.66DNLCX Dreyfus Active MidcapPairCorr
  0.66RUDAX Dreyfusthe Boston PanyPairCorr
  0.54DNLAX Dreyfus Natural ResourcesPairCorr
  0.37AVGAX Dynamic Total ReturnPairCorr
  0.34DPTAX Dreyfus Tax ManagedPairCorr
  0.32AVGCX Dynamic Total ReturnPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Gnma 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 Gnma'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.

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