Dreyfus Yield Correlations

Mutual Funds . USA . 
Fund . Dreyfus Yield Enhancement
DABLX Fund  USD 11.09  0.01  0.09%   
The current 90-days correlation between Dreyfus Yield Enhancement and Dreyfus High Yield is 0.72 (i.e., Poor diversification). The correlation of Dreyfus Yield 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 Yield Correlation With Market

Very weak diversification

The correlation between Dreyfus Yield Enhancement and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Yield Enhancement 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 Yield Enhancement. 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 economic analysis.

Moving together with Dreyfus Mutual Fund

  0.97SSETX Dreyfusthe Boston PanyPairCorr
  0.95DIEYX Dreyfus InternationalPairCorr
  0.95DIERX Dreyfus InternationalPairCorr
  0.95DIMIX Dreyfus Short IntermPairCorr
  0.94DINIX Dreyfus InternationalPairCorr
  0.91DISRX International StockPairCorr
  0.91DISYX International StockPairCorr
  0.97SSYGX Dreyfusthe Boston PanyPairCorr
  0.97STSVX Dreyfusthe Boston PanyPairCorr
  0.97DLACX Dreyfus Large CapPairCorr
  0.97SDSCX Dreyfusthe Boston PanyPairCorr
  0.96DLDYX Dreyfus Natural ResourcesPairCorr
  0.96DLDRX Dreyfus Natural ResourcesPairCorr
  0.98DLHRX Dreyfus High YieldPairCorr
  0.97DLQIX Dreyfus Large CapPairCorr
  0.96DMIDX Dreyfus Midcap IndexPairCorr
  0.95DMYBX Dreyfus Short IntermPairCorr
  0.73DNJYX Dreyfus New JerseyPairCorr
  0.96DNLYX Dreyfus Active MidcapPairCorr
  0.72DNMIX Dreyfus New JerseyPairCorr
  0.97DOPIX Dreyfus OpportunisticPairCorr
  0.96DPWRX Dreyfus Worldwide GrowthPairCorr
  0.96DQEIX Dreyfus Global EquityPairCorr
  0.96AVGYX Dynamic Total ReturnPairCorr
  0.96AVGRX Dynamic Total ReturnPairCorr
  0.97DQIYX Dreyfus Equity IncomePairCorr
  0.97DQIRX Dreyfus Equity IncomePairCorr
  0.98DRGYX Dreyfus Strategic ValuePairCorr
  0.98DRGVX Dreyfus Strategic ValuePairCorr
  0.89DRLIX Dreyfus Global RealPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Yield 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 Yield'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
DHYYX  0.23 (0.03) 0.00 (0.27) 0.00 
 0.00 
 0.59 
(0.49)
 1.76 
SSETX  0.85  0.10  0.08  0.22  0.89 
(0.84)
 2.31 
(1.54)
 6.06 
DIBRX  0.38  0.03 (0.23)(0.07) 0.45 
(0.42)
 0.83 
(0.60)
 2.61 
DIBYX  0.38  0.03 (0.23)(0.08) 0.46 
(0.42)
 0.76 
(0.60)
 2.52 
DIEYX  0.47  0.13  0.07  0.53  0.23 
(0.52)
 1.23 
(1.01)
 2.92 
DIERX  0.47  0.13  0.07  0.53  0.23 
(0.52)
 1.23 
(1.01)
 2.92 
DIMIX  0.05  0.02  0.00  2.05  0.00 
 0.00 
 0.08 
(0.08)
 0.39 
DINIX  0.52  0.12  0.07  0.43  0.33 
(0.63)
 1.31 
(1.05)
 3.25 
DISRX  0.62  0.06  0.00  0.25  0.53 
(0.72)
 1.27 
(1.19)
 3.70 
DISYX  0.62  0.06  0.00  0.26  0.53 
(0.72)
 1.28 
(1.20)
 3.66 

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