Dreyfus Equity Correlations

Mutual Funds . USA . 
Fund . Dreyfus Equity Income
DQIRX Fund  USD 31.13  0.01  0.03%   
The current 90-days correlation between Dreyfus Equity Income and Virtus Emerging Markets is 0.66 (i.e., Poor 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

Almost no diversification

The correlation between Dreyfus Equity Income and DJI is 0.97 (i.e., Almost no 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 metropolitan statistical area.

Moving together with Dreyfus Mutual Fund

  0.95SSETX Dreyfusthe Boston PanyPairCorr
  0.78DIEYX Dreyfus InternationalPairCorr
  0.78DIERX Dreyfus InternationalPairCorr
  0.78DINIX Dreyfus InternationalPairCorr
  0.89DISRX International StockPairCorr
  0.88DISYX International StockPairCorr
  0.95SSYGX Dreyfusthe Boston PanyPairCorr
  0.97STSVX Dreyfusthe Boston PanyPairCorr
  0.99DLACX Dreyfus Large CapPairCorr
  0.95SDSCX Dreyfusthe Boston PanyPairCorr
  0.86DLDYX Dreyfus Natural ResourcesPairCorr
  0.86DLDRX Dreyfus Natural ResourcesPairCorr
  0.87DLHRX Dreyfus High YieldPairCorr
  0.99DLQIX Dreyfus Large CapPairCorr
  0.99DMCYX Dreyfus OpportunisticPairCorr
  0.98DMIDX Dreyfus Midcap IndexPairCorr
  0.98DNLYX Dreyfus Active MidcapPairCorr
  0.95DNLRX Dreyfus Active MidcapPairCorr
  0.97DOPIX Dreyfus OpportunisticPairCorr
  0.98DPRIX Dreyfus Worldwide GrowthPairCorr
  0.98DPWRX Dreyfus Worldwide GrowthPairCorr
  0.92DQEIX Dreyfus Global EquityPairCorr
  0.79AVGYX Dynamic Total ReturnPairCorr
  0.8AVGRX Dynamic Total ReturnPairCorr
  1.0DQIYX 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 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.

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