Dreyfus Yield Correlations

Mutual Funds . USA . 
Fund . Dreyfus Yield Enhancement
DABMX Fund  USD 11.10  0.01  0.09%   
The current 90-days correlation between Dreyfus Yield Enhancement and Dreyfus High Yield is 0.29 (i.e., Modest 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 good diversification

The correlation between Dreyfus Yield Enhancement and DJI is -0.24 (i.e., Very good 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 population.

Moving together with Dreyfus Mutual Fund

  0.95DIEYX Dreyfus InternationalPairCorr
  0.7DIERX Dreyfus InternationalPairCorr
  0.95DIMIX Dreyfus Short IntermPairCorr
  0.95DINIX Dreyfus InternationalPairCorr
  0.65DISRX International StockPairCorr
  0.65DISYX International StockPairCorr
  0.97STSVX Dreyfusthe Boston PanyPairCorr
  0.66SDGIX Dreyfusstandish GlobalPairCorr
  0.96DLACX Dreyfus Large CapPairCorr
  0.95SDSCX Dreyfusthe Boston PanyPairCorr
  0.95DLDYX Dreyfus Natural ResourcesPairCorr
  0.68DLDRX Dreyfus Natural ResourcesPairCorr
  0.97DLHRX Dreyfus High YieldPairCorr
  0.96DLQIX Dreyfus Large CapPairCorr
  0.94DMCYX Dreyfus OpportunisticPairCorr
  0.64DMIDX Dreyfus Midcap IndexPairCorr
  0.69DMUYX Dreyfus Amt FreePairCorr
  0.95DMYBX Dreyfus Short IntermPairCorr
  0.7DNJYX Dreyfus New JerseyPairCorr
  0.95DNLYX Dreyfus Active MidcapPairCorr
  0.95DNLRX Dreyfus Active MidcapPairCorr
  0.69DNMIX Dreyfus New JerseyPairCorr
  0.95DPRIX Dreyfus Worldwide GrowthPairCorr
  0.67DPWRX Dreyfus Worldwide GrowthPairCorr
  0.96DQEIX Dreyfus Global EquityPairCorr
  0.66AVGRX Dynamic Total ReturnPairCorr
  0.65DQIYX Dreyfus Equity IncomePairCorr
  0.96DQIRX Dreyfus Equity IncomePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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  0.83  0.19  0.15  0.33  0.64 
(0.85)
 2.31 
(1.37)
 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  0.44  0.17  0.05 (1.71) 0.28 
(0.49)
 1.17 
(1.00)
 2.92 
DIMIX  0.05  0.02  0.00  2.05  0.00 
 0.00 
 0.08 
(0.08)
 0.39 
DINIX  0.54  0.21  0.11 (2.17) 0.29 
(0.65)
 1.45 
(1.05)
 3.25 
DISRX  0.60  0.14  0.02  3.93  0.48 
(0.72)
 1.27 
(1.19)
 3.70 
DISYX  0.60  0.14  0.02  3.77  0.48 
(0.72)
 1.28 
(1.20)
 3.66 

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