Dreyfus High Correlations
| DHYAX Fund | USD 10.08 0.04 0.40% |
The current 90-days correlation between Dreyfus High Yield and Sa Emerging Markets is -0.09 (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
Good diversification
The correlation between Dreyfus High Yield and DJI is -0.18 (i.e., Good 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
| 0.88 | DHMBX | Dreyfus High Yield | PairCorr |
| 0.99 | DHYCX | Dreyfus High Yield | PairCorr |
| 0.7 | DZNJX | Dreyfus New Jersey | PairCorr |
| 0.87 | DMBCX | Dreyfus Municipal Bond | PairCorr |
| 0.86 | DMBZX | Dreyfus Municipal Bond | PairCorr |
| 0.96 | DMUCX | Dreyfus Amt Free | PairCorr |
| 0.93 | DMUAX | Dreyfus Amt Free | PairCorr |
| 0.95 | DNYAX | Dnyax | PairCorr |
| 0.81 | PNYCX | Dreyfus New York | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SAEMX | 0.49 | 0.22 | 0.20 | 1.23 | 0.00 | 1.31 | 3.41 | |||
| OBEGX | 0.72 | 0.17 | 0.17 | 0.37 | 0.48 | 1.87 | 4.04 | |||
| BOGSX | 0.84 | 0.33 | 0.16 | (2.51) | 0.60 | 2.32 | 5.78 | |||
| JOEAX | 0.49 | 0.18 | 0.14 | 0.77 | 0.00 | 1.57 | 3.07 | |||
| SFGIX | 0.41 | 0.22 | 0.11 | (23.37) | 0.20 | 1.12 | 3.31 | |||
| SEDAX | 0.19 | 0.09 | (0.15) | 1.46 | 0.00 | 0.45 | 1.25 | |||
| GMAQX | 0.54 | 0.26 | 0.18 | 29.25 | 0.18 | 1.43 | 4.04 |