Dreyfus Equity Correlations

Mutual Funds . USA . 
Fund . Dreyfus Equity Income
DQIAX Fund  USD 33.03  0.04  0.12%   
The current 90-days correlation between Dreyfus Equity Income and Dreyfusstandish Global Fixed is 0.08 (i.e., Significant diversification). The correlation of Dreyfus Equity 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 Equity Correlation With Market

Very poor diversification

The correlation between Dreyfus Equity Income and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Equity Income 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 Equity Income. 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 nation.

Moving together with Dreyfus Mutual Fund

  0.95DIECX Dreyfus InternationalPairCorr
  0.96DIEAX Dreyfus InternationalPairCorr
  0.95DIISX Dreyfus InternationalPairCorr
  0.98DISSX Dreyfus Smallcap StockPairCorr
  0.98DISIX Dreyfus Smallcap StockPairCorr
  0.91DISCX International StockPairCorr
  0.92DISAX International StockPairCorr
  0.92DITEX Dreyfus IntermediatePairCorr
  0.99PGROX Dreyfus Worldwide GrowthPairCorr
  0.99PGRCX Dreyfus Worldwide GrowthPairCorr
  1.0THPBX Dreyfus Balanced OppPairCorr
  0.96DLDCX Dreyfus Natural ResourcesPairCorr
  1.0DLQAX Dreyfus Large CapPairCorr
  0.96DMBAX Dreyfus Short IntermPairCorr
  0.97DMCVX Dreyfus OpportunisticPairCorr
  0.98DNLDX Dreyfus Active MidcapPairCorr
  0.98DNLCX Dreyfus Active MidcapPairCorr
  0.96DNLAX Dreyfus Natural ResourcesPairCorr
  0.98RUDAX Dreyfusthe Boston PanyPairCorr
  0.98DPLTX Dreyfus High YieldPairCorr
  0.93BYSYX Bny Mellon ShortPairCorr
  0.95AVGCX Dynamic Total ReturnPairCorr
  0.96AVGAX Dynamic Total ReturnPairCorr
  1.0DQICX Dreyfus Equity IncomePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Equity 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 Equity'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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DHGCX  0.18  0.00 (0.48) 0.17  0.18 
(0.20)
 0.26 
(0.36)
 1.09 
DHGAX  0.18  0.00 (0.48) 0.25  0.17 
(0.20)
 0.30 
(0.35)
 1.05 
DHMBX  0.23 (0.03) 0.00 (0.36) 0.00 
 0.00 
 0.49 
(0.49)
 1.66 
DHYCX  0.23 (0.03) 0.00 (0.39) 0.00 
 0.00 
 0.58 
(0.49)
 1.66 
DHYAX  0.23 (0.03) 0.00 (0.27) 0.00 
 0.00 
 0.49 
(0.49)
 1.66 
DZNJX  0.16 (0.01)(0.48)(0.03) 0.19 
(0.21)
 0.44 
(0.35)
 1.24 
DIBCX  0.37  0.02 (0.26)(0.04) 0.44 
(0.41)
 0.83 
(0.58)
 2.43 
DIBAX  0.38  0.03 (0.23)(0.07) 0.44 
(0.42)
 0.78 
(0.62)
 2.59 
DIECX  0.46  0.13  0.07  0.52  0.24 
(0.51)
 1.22 
(0.98)
 2.91 
DIEAX  0.47  0.13  0.07  0.53  0.25 
(0.51)
 1.23 
(0.98)
 2.92 

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