Dreyfus Midcap Correlations

DMIDX Fund

USD 28.65 0.02 0.07%

The current 90-days correlation between Dreyfus Midcap Index and Dreyfus Smallcap Stock is 0.97 (i.e., Almost no diversification). The correlation of Dreyfus Midcap 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 Midcap Correlation With Market

Very poor diversification

The correlation between Dreyfus Midcap Index and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Midcap Index 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 Midcap Index. 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 unemployment.

Moving together with Dreyfus Mutual Fund

0.96	SSETX	Dreyfusthe Boston Pany	Pair Corr
0.93	DIERX	Dreyfus International	Pair Corr
0.91	DIMIX	Dreyfus Short Interm	Pair Corr
0.93	DISRX	International Stock	Pair Corr
0.93	DISYX	International Stock	Pair Corr
0.96	SSYGX	Dreyfusthe Boston Pany	Pair Corr
0.98	STSVX	Dreyfusthe Boston Pany	Pair Corr
0.98	DLACX	Dreyfus Large Cap	Pair Corr
0.94	DLDYX	Dreyfus Natural Resources	Pair Corr
0.94	DLDRX	Dreyfus Natural Resources	Pair Corr
0.98	DLQIX	Dreyfus Large Cap	Pair Corr
0.98	DMCYX	Dreyfus Opportunistic	Pair Corr
0.9	DMYBX	Dreyfus Short Interm	Pair Corr
0.66	DNJYX	Dreyfus New Jersey	Pair Corr
1.0	DNLYX	Dreyfus Active Midcap	Pair Corr
1.0	DNLRX	Dreyfus Active Midcap	Pair Corr
0.65	DNMIX	Dreyfus New Jersey	Pair Corr
0.98	DOPIX	Dreyfus Opportunistic	Pair Corr
0.98	DPRIX	Dreyfus Worldwide Growth	Pair Corr
0.98	DPWRX	Dreyfus Worldwide Growth	Pair Corr
0.97	DQEIX	Dreyfus Global Equity	Pair Corr
0.9	AVGYX	Dynamic Total Return	Pair Corr
0.9	AVGRX	Dynamic Total Return	Pair Corr
0.98	DQIYX	Dreyfus Equity Income	Pair Corr
0.98	DQIRX	Dreyfus Equity Income	Pair Corr
0.98	DRGYX	Dreyfus Strategic Value	Pair Corr
0.86	DRLIX	Dreyfus Global Real	Pair Corr
0.94	DRRYX	Dreyfus Global Real	Pair Corr
0.95	DABMX	Dreyfus Yield Enhancement	Pair Corr
0.96	DABLX	Dreyfus Yield Enhancement	Pair Corr
0.95	DABJX	Dreyfus Yield Enhancement	Pair Corr
0.98	DRTCX	The Dreyfus Sustainable	Pair Corr
0.97	DRYQX	Dreyfus Research Growth	Pair Corr
0.98	DSCYX	Dreyfus Opportunistic	Pair Corr
0.94	NIEYX	Dreyfus/newton International	Pair Corr

Related Correlations Analysis

	DISIX	DMVYX	DSGYX	MEMKX	CIPIX
DISIX		0.0	0.0	0.96	0.95	DISIX
DMVYX	0.0		0.0	0.0	0.0	DMVYX
DSGYX	0.0	0.0		0.0	0.0	DSGYX
MEMKX	0.96	0.0	0.0		0.96	MEMKX
CIPIX	0.95	0.0	0.0	0.96		CIPIX
	DISIX	DMVYX	DSGYX	MEMKX	CIPIX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MEMKX	+ 0.96	DISIX
CIPIX	+ 0.96	MEMKX
CIPIX	+ 0.95	DISIX
DMVYX	+ 0.0	DISIX
DSGYX	+ 0.0	DISIX
DSGYX	+ 0.0	DMVYX

High negative correlations

CIPIX	- 0.0	DSGYX
MEMKX	- 0.0	DSGYX
CIPIX	- 0.0	DMVYX
MEMKX	- 0.0	DMVYX
DSGYX	- 0.0	DMVYX
DSGYX	- 0.0	DISIX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Midcap 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 Midcap'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
DISIX	0.95	0.09	0.09	0.21	0.91	(1.10)	2.28	(1.90)	6.53
DMVYX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DSGYX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MEMKX	0.57	0.16	0.13	0.45	0.29	(0.71)	1.78	(0.93)	4.59
CIPIX	0.77	0.06	0.06	0.19	0.72	(0.83)	2.36	(1.33)	6.02

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