Dreyfus High Correlations
DHYAX Fund | USD 10.11 0.01 0.1% |
The current 90-days correlation between Dreyfus High Yield and Semiconductor Ultrasector Profund is -0.01 (i.e., Good diversification). The correlation of Dreyfus High 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 High Correlation With Market
Average diversification
The correlation between Dreyfus High Yield and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus High Yield and DJI in the same portfolio, assuming nothing else is changed.
Dreyfus |
Moving together with Dreyfus Mutual Fund
0.87 | NHMAX | Nuveen High Yield | PairCorr |
0.87 | NHCCX | Nuveen High Yield | PairCorr |
0.99 | NHMRX | Nuveen High Yield | PairCorr |
0.99 | NHMFX | Nuveen High Yield | PairCorr |
0.68 | AHICX | American High Income | PairCorr |
0.98 | GHYCX | Goldman Sachs High | PairCorr |
0.96 | GHYAX | Goldman Sachs High | PairCorr |
0.96 | ACTDX | Invesco High Yield | PairCorr |
Moving against Dreyfus Mutual Fund
0.43 | FKRCX | Franklin Gold Precious Steady Growth | PairCorr |
0.42 | FGPMX | Franklin Gold And Steady Growth | PairCorr |
0.4 | LEVIX | Lazard Equity Centrated | PairCorr |
0.39 | FFEGX | Fidelity Freedom Index | PairCorr |
0.38 | PALCX | Allianzgi Global All | PairCorr |
0.35 | PMPSX | Precious Metals Ultr Steady Growth | PairCorr |
0.32 | PMPIX | Precious Metals Ultr Steady Growth | PairCorr |
0.45 | FASCX | Franklin K2 Alternative | PairCorr |
0.41 | FNILX | Fidelity Zero Large | PairCorr |
0.4 | DCEMX | Dunham Emerging Markets | PairCorr |
0.39 | FISVX | Fidelity Small Cap | PairCorr |
0.38 | RYRUX | Russell 2000 2x Steady Growth | PairCorr |
0.38 | EMAYX | Enterprise Mergers And | PairCorr |
0.38 | MFLDX | Marketfield Fund Mar | PairCorr |
0.38 | RRTLX | T Rowe Price | PairCorr |
0.37 | FFFCX | Fidelity Freedom 2010 | PairCorr |
0.36 | PSHAX | Short Term Fund | PairCorr |
0.34 | RIVKX | American Funds Inter | PairCorr |
0.33 | HBLYX | Hartford Balanced | PairCorr |
0.33 | CSRYX | Columbia Select Large | PairCorr |
0.33 | FDEGX | Fidelity Growth Stra | PairCorr |
0.33 | SPSDX | Sterling Capital Beh | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus High 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 High'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
SMPIX | 2.10 | 0.75 | 0.40 | 0.67 | 1.37 | 5.81 | 12.76 | |||
OWLSX | 0.46 | 0.25 | 0.04 | (1.98) | 0.00 | 1.45 | 3.37 | |||
RYANX | 0.92 | 0.45 | 0.16 | (1.54) | 0.72 | 3.05 | 7.33 | |||
LCIAX | 0.62 | 0.31 | 0.08 | (1.55) | 0.34 | 2.06 | 4.96 | |||
JTSQX | 0.51 | 0.08 | 0.04 | 0.31 | 0.26 | 1.60 | 3.68 |