Dreyfus Active Correlations

Mutual Funds . USA . 
Fund . Dreyfus Active Midcap
DNLDX Fund  USD 59.86  0.17  0.28%   
The current 90-days correlation between Dreyfus Active Midcap and Ab International Growth is 0.05 (i.e., Significant diversification). The correlation of Dreyfus Active 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 Active Correlation With Market

Good diversification

The correlation between Dreyfus Active Midcap and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Active Midcap 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 Active Midcap. 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

  0.93DIECX Dreyfus InternationalPairCorr
  0.93DIEAX Dreyfus InternationalPairCorr
  0.9DIISX Dreyfus InternationalPairCorr
  0.93DISSX Dreyfus Smallcap StockPairCorr
  0.87DISIX Dreyfus Smallcap StockPairCorr
  0.9DISCX International StockPairCorr
  0.94DISAX International StockPairCorr
  0.88PGROX Dreyfus Worldwide GrowthPairCorr
  0.89PGRCX Dreyfus Worldwide GrowthPairCorr
  0.92THPBX Dreyfus Balanced OppPairCorr
  0.77DLDCX Dreyfus Natural ResourcesPairCorr
  0.98DLQAX Dreyfus Large CapPairCorr
  0.67DMBAX Dreyfus Short IntermPairCorr
  0.99DMCVX Dreyfus OpportunisticPairCorr
  0.9DNLCX Dreyfus Active MidcapPairCorr
  0.8DNLAX Dreyfus Natural Resources Steady GrowthPairCorr
  0.86RUDAX Dreyfusthe Boston PanyPairCorr
  0.87DPLTX Dreyfus High YieldPairCorr
  0.79BYSYX Bny Mellon ShortPairCorr
  0.83BYSIX Bny Mellon ShortPairCorr
  0.81BYSAX Bny Mellon ShortPairCorr
  0.74AVGCX Dynamic Total ReturnPairCorr
  0.76AVGAX Dynamic Total ReturnPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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