Dreyfus Worldwide Correlations

Mutual Funds USA . 
Fund . Dreyfus Worldwide Growth
DPWRX Fund  USD 71.53  0.07  0.1%   
The current 90-days correlation between Dreyfus Worldwide Growth and Redwood Real Estate is -0.05 (i.e., Good diversification). The correlation of Dreyfus Worldwide 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 Worldwide Correlation With Market

Very poor diversification

The correlation between Dreyfus Worldwide Growth and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Worldwide Growth 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 Worldwide Growth. 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

  0.97SSETX Dreyfusthe Boston PanyPairCorr
  0.97DIEYX Dreyfus InternationalPairCorr
  0.97DIERX Dreyfus InternationalPairCorr
  0.93DIMIX Dreyfus Short IntermPairCorr
  0.97DINIX Dreyfus InternationalPairCorr
  0.95DISRX International StockPairCorr
  0.95DISYX International StockPairCorr
  0.98SSYGX Dreyfusthe Boston PanyPairCorr
  0.97STSVX Dreyfusthe Boston PanyPairCorr
  0.99DLACX Dreyfus Large CapPairCorr
  0.99SDSCX Dreyfusthe Boston PanyPairCorr
  0.95DLDYX Dreyfus Natural ResourcesPairCorr
  0.95DLDRX Dreyfus Natural ResourcesPairCorr
  0.97DLHRX Dreyfus High YieldPairCorr
  0.99DLQIX Dreyfus Large CapPairCorr
  0.98DMCYX Dreyfus OpportunisticPairCorr
  0.98DMIDX Dreyfus Midcap IndexPairCorr
  0.93DMYBX Dreyfus Short IntermPairCorr
  0.98DNLYX Dreyfus Active MidcapPairCorr
  0.98DNLRX Dreyfus Active MidcapPairCorr
  0.96DOPIX Dreyfus OpportunisticPairCorr
  1.0DPRIX Dreyfus Worldwide GrowthPairCorr
  0.99DQEIX Dreyfus Global EquityPairCorr
  0.93AVGYX Dynamic Total ReturnPairCorr
  0.93AVGRX Dynamic Total ReturnPairCorr
  0.99DQIYX 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 Worldwide 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 Worldwide'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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