Dreyfus Opportunistic Correlations

Mutual Funds . USA . 
Fund . Dreyfus Opportunistic Small
DOPIX Fund  USD 32.73  0.09  0.27%   
The current 90-days correlation between Dreyfus Opportunistic and Dreyfus Opportunistic Small is 1.0 (i.e., No risk reduction). The correlation of Dreyfus Opportunistic 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 Opportunistic Correlation With Market

Very poor diversification

The correlation between Dreyfus Opportunistic Small 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 Opportunistic Small 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 Opportunistic Small. 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 gross domestic product.

Moving together with Dreyfus Mutual Fund

  0.95SSETX Dreyfusthe Boston PanyPairCorr
  0.92DIERX Dreyfus InternationalPairCorr
  0.95DIMIX Dreyfus Short IntermPairCorr
  0.88DISRX International StockPairCorr
  0.88DISYX International StockPairCorr
  0.97SSYGX Dreyfusthe Boston PanyPairCorr
  0.98STSVX Dreyfusthe Boston PanyPairCorr
  0.96DLACX Dreyfus Large CapPairCorr
  0.96DLDRX Dreyfus Natural ResourcesPairCorr
  0.98DLQIX Dreyfus Large CapPairCorr
  0.95DMCYX Dreyfus OpportunisticPairCorr
  0.98DMIDX Dreyfus Midcap IndexPairCorr
  0.95DMYBX Dreyfus Short IntermPairCorr
  0.65DNJYX Dreyfus New JerseyPairCorr
  0.97DNLYX Dreyfus Active MidcapPairCorr
  0.97DNLRX Dreyfus Active MidcapPairCorr
  0.64DNMIX Dreyfus New JerseyPairCorr
  0.97DPRIX Dreyfus Worldwide GrowthPairCorr
  0.97DPWRX Dreyfus Worldwide GrowthPairCorr
  0.93DQEIX Dreyfus Global EquityPairCorr
  0.94AVGYX Dynamic Total ReturnPairCorr
  0.95AVGRX Dynamic Total ReturnPairCorr
  0.98DQIYX Dreyfus Equity IncomePairCorr
  0.98DQIRX Dreyfus Equity IncomePairCorr
  0.97DRGYX Dreyfus Strategic ValuePairCorr
  0.84DRLIX Dreyfus Global RealPairCorr
  0.96DRRYX Dreyfus Global RealPairCorr
  0.95DABMX Dreyfus Yield EnhancementPairCorr
  0.97DABLX Dreyfus Yield EnhancementPairCorr
  0.96DABJX Dreyfus Yield EnhancementPairCorr
  0.97DRTCX The Dreyfus SustainablePairCorr
  0.98DRYQX Dreyfus Research GrowthPairCorr
  1.0DSCYX Dreyfus OpportunisticPairCorr
  0.92NIEYX Dreyfus/newton InternationalPairCorr
  0.98DBMYX Dreyfusthe Boston PanyPairCorr
  0.98DBOYX Dreyfus Balanced OppPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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