Dreyfus High Correlations

Mutual Funds . USA . 
Fund . Dreyfus High Yield
DLHRX Fund  USD 5.44  0.01  0.18%   
The current 90-days correlation between Dreyfus High Yield and Dreyfus High Yield is 0.5 (i.e., Very weak 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

Very weak diversification

The correlation between Dreyfus High Yield and DJI is 0.54 (i.e., Very weak 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.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Dreyfus High Yield. 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 metropolitan statistical area.

Moving together with Dreyfus Mutual Fund

  0.98SSETX Dreyfusthe Boston PanyPairCorr
  0.96DIEYX Dreyfus InternationalPairCorr
  0.96DIERX Dreyfus InternationalPairCorr
  0.97DIMIX Dreyfus Short IntermPairCorr
  0.95DINIX Dreyfus InternationalPairCorr
  0.91DISRX International StockPairCorr
  0.91DISYX International StockPairCorr
  0.98SSYGX Dreyfusthe Boston PanyPairCorr
  0.97STSVX Dreyfusthe Boston PanyPairCorr
  0.98DLACX Dreyfus Large CapPairCorr
  0.98SDSCX Dreyfusthe Boston PanyPairCorr
  0.66DLDYX Dreyfus Natural ResourcesPairCorr
  0.96DLDRX Dreyfus Natural ResourcesPairCorr
  0.98DLQIX Dreyfus Large CapPairCorr
  0.95DMCYX Dreyfus OpportunisticPairCorr
  0.95DMIDX Dreyfus Midcap IndexPairCorr
  0.97DMYBX Dreyfus Short IntermPairCorr
  0.65DNJYX Dreyfus New JerseyPairCorr
  0.96DNLYX Dreyfus Active MidcapPairCorr
  0.96DNLRX Dreyfus Active MidcapPairCorr
  0.97DOPIX Dreyfus OpportunisticPairCorr
  0.97DPRIX Dreyfus Worldwide GrowthPairCorr
  0.97DPWRX Dreyfus Worldwide GrowthPairCorr
  0.97DQEIX Dreyfus Global EquityPairCorr
  0.97AVGYX Dynamic Total ReturnPairCorr
  0.97AVGRX Dynamic Total ReturnPairCorr
  0.98DQIYX Dreyfus Equity IncomePairCorr
  0.62DQIRX Dreyfus Equity IncomePairCorr
  0.64DRGYX Dreyfus Strategic ValuePairCorr

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 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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