Dreyfus Smallcap Correlations

Mutual Funds . USA . 
Fund . Dreyfus Smallcap Stock
DISSX Fund  USD 23.59  0.18  0.76%   
The current 90-days correlation between Dreyfus Smallcap Stock and Dreyfus Midcap Index is -0.11 (i.e., Good diversification). The correlation of Dreyfus Smallcap 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 Smallcap Correlation With Market

Very poor diversification

The correlation between Dreyfus Smallcap Stock and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Smallcap Stock 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 Smallcap Stock. 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 state.

Moving together with Dreyfus Mutual Fund

  0.72DIECX Dreyfus InternationalPairCorr
  0.73DIEAX Dreyfus InternationalPairCorr
  0.72DIISX Dreyfus InternationalPairCorr
  0.73DISIX Dreyfus Smallcap StockPairCorr
  0.92DISCX International StockPairCorr
  0.7DISAX International StockPairCorr
  0.91DITEX Dreyfus IntermediatePairCorr
  0.95PGROX Dreyfus Worldwide GrowthPairCorr
  0.98PGRCX Dreyfus Worldwide GrowthPairCorr
  0.97THPBX Dreyfus Balanced OppPairCorr
  0.72DLDCX Dreyfus Natural ResourcesPairCorr
  0.96DLQAX Dreyfus Large CapPairCorr
  0.93DMBAX Dreyfus Short IntermPairCorr
  0.73DMCVX Dreyfus OpportunisticPairCorr
  0.96DNLDX Dreyfus Active MidcapPairCorr
  0.99DNLCX Dreyfus Active MidcapPairCorr
  0.95DNLAX Dreyfus Natural ResourcesPairCorr
  0.96DPLTX Dreyfus High YieldPairCorr
  0.9BYSYX Bny Mellon ShortPairCorr
  0.9BYSIX Bny Mellon ShortPairCorr
  0.9BYSAX Bny Mellon ShortPairCorr
  0.67AVGCX Dynamic Total ReturnPairCorr
  0.67AVGAX Dynamic Total ReturnPairCorr
  0.71DQICX Dreyfus Equity IncomePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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

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