Dreyfus Research Correlations

Mutual Funds . USA . 
Fund . Dreyfus Research Growth
DRYQX Fund  USD 20.49  0.21  1.04%   
The current 90-days correlation between Dreyfus Research Growth and Transamerica Emerging Markets is 0.56 (i.e., Very weak diversification). The correlation of Dreyfus Research 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 Research Correlation With Market

Poor diversification

The correlation between Dreyfus Research Growth and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Research 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 Research 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 producer price index.

Moving against DREYFUS Mutual Fund

  0.71XDSMX Dreyfus StrategicPairCorr
  0.7XNBHX Neuberger Berman IntPairCorr
  0.6XNXJX Nuveen New JerseyPairCorr
  0.56MCD McDonaldsPairCorr
  0.34HPQ HP IncPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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