Dreyfus Global Correlations

Mutual Funds . USA . 
Fund . Dreyfus Global Equity
DQEIX Fund  USD 12.74  0.09  0.70%   
The current 90-days correlation between Dreyfus Global Equity and Jpmorgan Diversified Fund is 0.92 (i.e., Almost no diversification). The correlation of Dreyfus Global 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 Global Correlation With Market

Good diversification

The correlation between Dreyfus Global Equity and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Global Equity 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 Global Equity. 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

  0.77SSETX Dreyfusthe Boston PanyPairCorr
  0.79DIEYX Dreyfus InternationalPairCorr
  0.79DIERX Dreyfus InternationalPairCorr
  0.74DINIX Dreyfus InternationalPairCorr
  0.8DISRX International StockPairCorr
  0.8DISYX International StockPairCorr
  0.68SSYGX Dreyfusthe Boston PanyPairCorr
  0.82STSVX Dreyfusthe Boston PanyPairCorr
  0.77DLACX Dreyfus Large CapPairCorr
  0.7SDSCX Dreyfusthe Boston PanyPairCorr
  0.82DLDYX Dreyfus Natural ResourcesPairCorr
  0.82DLDRX Dreyfus Natural ResourcesPairCorr
  0.84DLHRX Dreyfus High YieldPairCorr
  0.77DLQIX Dreyfus Large CapPairCorr
  0.81DMCYX Dreyfus OpportunisticPairCorr
  0.8DMIDX Dreyfus Midcap IndexPairCorr
  0.75DMYBX Dreyfus Short IntermPairCorr
  0.81DNLYX Dreyfus Active MidcapPairCorr
  0.76DNLRX Dreyfus Active MidcapPairCorr
  0.81DOPIX Dreyfus OpportunisticPairCorr
  0.77DPRIX Dreyfus Worldwide GrowthPairCorr
  0.77DPWRX Dreyfus Worldwide GrowthPairCorr
  0.7AVGYX Dynamic Total ReturnPairCorr
  0.72AVGRX Dynamic Total ReturnPairCorr
  0.81DQIYX Dreyfus Equity IncomePairCorr
  0.81DQIRX Dreyfus Equity IncomePairCorr
  0.82DRGYX Dreyfus Strategic ValuePairCorr
  0.82DRGVX Dreyfus Strategic ValuePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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