Dreyfus Balanced Correlations

THPBX Fund  USD 25.67  0.11  0.43%   
The current 90-days correlation between Dreyfus Balanced Opp and T Rowe Price is 0.87 (i.e., Very poor diversification). The correlation of Dreyfus Balanced 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 Balanced Correlation With Market

Very poor diversification

The correlation between Dreyfus Balanced Opportunity and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Balanced Opportunity and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Dreyfus Balanced Opportunity. 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 bureau of labor statistics.

Moving together with Dreyfus Mutual Fund

  0.93DISSX Dreyfus Smallcap StockPairCorr
  0.93DISIX Dreyfus Smallcap StockPairCorr
  0.82DLDCX Dreyfus Natural ResourcesPairCorr
  0.93DLQAX Dreyfus Large CapPairCorr
  0.97DMCVX Dreyfus OpportunisticPairCorr
  0.98DNLDX Dreyfus Active MidcapPairCorr
  0.98DNLCX Dreyfus Active MidcapPairCorr
  0.83DNLAX Dreyfus Natural ResourcesPairCorr
  0.92RUDAX Dreyfusthe Boston PanyPairCorr
  0.78DPLTX Dreyfus High YieldPairCorr
  0.84DPTAX Dreyfus Tax ManagedPairCorr
  0.83AVGCX Dynamic Total ReturnPairCorr
  0.85AVGAX Dynamic Total ReturnPairCorr
  0.96DQICX Dreyfus Equity IncomePairCorr

Moving against Dreyfus Mutual Fund

  0.7DIBCX Dreyfus InternationalPairCorr
  0.68DIBAX Dreyfus InternationalPairCorr
  0.65DIECX Dreyfus InternationalPairCorr
  0.64DIEAX Dreyfus InternationalPairCorr
  0.55DISCX International StockPairCorr
  0.54DISAX International StockPairCorr
  0.51DIISX Dreyfus InternationalPairCorr
  0.48DHGCX Dreyfusstandish GlobalPairCorr
  0.43DHGAX Dreyfusstandish GlobalPairCorr
  0.33BYSAX Bny Mellon ShortPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
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High negative correlations   
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Risk-Adjusted Indicators

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