Dreyfus Equity Correlations

Mutual Funds . USA . 
Fund . Dreyfus Equity Income
DQIYX Fund  USD 33.46  0.12  0.36%   
The current 90-days correlation between Dreyfus Equity Income and Dreyfus High Yield is 0.2 (i.e., Modest 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 0.91 (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 manufacturing.

Moving together with Dreyfus Mutual Fund

  0.97SSETX Dreyfusthe Boston PanyPairCorr
  0.96DIEYX Dreyfus InternationalPairCorr
  0.96DIERX Dreyfus InternationalPairCorr
  0.96DIMIX Dreyfus Short IntermPairCorr
  0.95DINIX Dreyfus InternationalPairCorr
  0.92DISRX International StockPairCorr
  0.92DISYX International StockPairCorr
  0.98SSYGX Dreyfusthe Boston PanyPairCorr
  1.0DLACX Dreyfus Large CapPairCorr
  0.98SDSCX Dreyfusthe Boston PanyPairCorr
  0.96DLDYX Dreyfus Natural ResourcesPairCorr
  0.96DLDRX Dreyfus Natural ResourcesPairCorr
  1.0DLQIX Dreyfus Large CapPairCorr
  0.96DMCYX Dreyfus OpportunisticPairCorr
  0.98DMIDX Dreyfus Midcap IndexPairCorr
  0.96DMYBX Dreyfus Short IntermPairCorr
  0.98DNLYX Dreyfus Active MidcapPairCorr
  0.97DNLRX Dreyfus Active MidcapPairCorr
  0.98DOPIX Dreyfus OpportunisticPairCorr
  0.98DPRIX Dreyfus Worldwide GrowthPairCorr
  0.99DPWRX Dreyfus Worldwide GrowthPairCorr
  0.98DQEIX Dreyfus Global EquityPairCorr
  0.95AVGYX Dynamic Total ReturnPairCorr
  0.96AVGRX Dynamic Total ReturnPairCorr
  1.0DQIRX Dreyfus Equity IncomePairCorr
  0.99DRGYX Dreyfus Strategic ValuePairCorr
  0.98DRGVX Dreyfus Strategic ValuePairCorr
  0.87DRLIX Dreyfus Global RealPairCorr
  0.87DRLYX Dreyfus Global RealPairCorr
  0.98DRRYX Dreyfus Global RealPairCorr

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
DHYYX  0.24 (0.03) 0.00 (0.20) 0.00 
 0.00 
 0.59 
(0.49)
 1.76 
SSETX  0.85  0.27  0.08 (1.08) 0.89 
(0.84)
 2.31 
(1.54)
 6.06 
DIBRX  0.38  0.00 (0.24) 0.18  0.45 
(0.42)
 0.83 
(0.60)
 2.61 
DIBYX  0.39  0.05 (0.20)(0.20) 0.45 
(0.44)
 0.82 
(0.60)
 2.52 
DIEYX  0.46  0.13  0.06  0.50  0.26 
(0.51)
 1.23 
(1.01)
 2.92 
DIERX  0.46  0.13  0.06  0.50  0.25 
(0.51)
 1.23 
(1.01)
 2.92 
DIMIX  0.05  0.02  0.00 (9.51) 0.00 
 0.00 
 0.08 
(0.08)
 0.39 
DINIX  0.52  0.11  0.05  0.41  0.34 
(0.62)
 1.31 
(1.05)
 3.25 
DISRX  0.62  0.06 (0.01) 0.25  0.54 
(0.72)
 1.27 
(1.19)
 3.70 
DISYX  0.62  0.06 (0.01) 0.25  0.54 
(0.72)
 1.28 
(1.20)
 3.66 

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