Dreyfus High Correlations

Mutual Funds . USA . 
Fund . Dreyfus High Yield
DPLTX Fund  USD 5.41  0.01  0.19%   
The current 90-days correlation between Dreyfus High Yield and Tiaa Cref Inflation Linked Bond is -0.06 (i.e., Good 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

Poor diversification

The correlation between Dreyfus High Yield and DJI is 0.64 (i.e., Poor 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 estimate.

Moving together with Dreyfus Mutual Fund

  0.96DIECX Dreyfus InternationalPairCorr
  0.95DIEAX Dreyfus InternationalPairCorr
  0.96DIISX Dreyfus InternationalPairCorr
  0.83DISSX Dreyfus Smallcap StockPairCorr
  0.89DISIX Dreyfus Smallcap StockPairCorr
  0.92DISCX International StockPairCorr
  0.94DISAX International StockPairCorr
  0.84PGROX Dreyfus Worldwide GrowthPairCorr
  0.95PGRCX Dreyfus Worldwide GrowthPairCorr
  0.96THPBX Dreyfus Balanced OppPairCorr
  0.84DLDCX Dreyfus Natural ResourcesPairCorr
  0.95DLQAX Dreyfus Large CapPairCorr
  0.68DMBAX Dreyfus Short IntermPairCorr
  0.9DMCVX Dreyfus OpportunisticPairCorr
  0.88DNLDX Dreyfus Active MidcapPairCorr
  0.95DNLCX Dreyfus Active MidcapPairCorr
  0.8DNLAX Dreyfus Natural ResourcesPairCorr
  0.93RUDAX Dreyfusthe Boston PanyPairCorr
  0.87BYSYX Bny Mellon ShortPairCorr
  0.94BYSIX Bny Mellon ShortPairCorr
  0.95BYSAX Bny Mellon ShortPairCorr
  0.8AVGCX Dynamic Total ReturnPairCorr
  0.82AVGAX Dynamic Total ReturnPairCorr
  0.95DQICX 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 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.

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