Dreyfus Opportunistic Correlations

Mutual Funds . USA . 
Fund . Dreyfus Opportunistic Small
DSCVX Fund  USD 32.35  0.09  0.28%   
The current 90-days correlation between Dreyfus Opportunistic and Dreyfus Opportunistic Midcap is 0.91 (i.e., Almost no diversification). The correlation of Dreyfus Opportunistic 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 Opportunistic Correlation With Market

Very poor diversification

The correlation between Dreyfus Opportunistic Small and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Opportunistic Small 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 Opportunistic Small. 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 real.

Moving together with Dreyfus Mutual Fund

  0.61DZNJX Dreyfus New JerseyPairCorr
  0.92DIECX Dreyfus InternationalPairCorr
  0.92DIEAX Dreyfus InternationalPairCorr
  0.91DIISX Dreyfus InternationalPairCorr
  0.99DISSX Dreyfus Smallcap StockPairCorr
  0.99DISIX Dreyfus Smallcap StockPairCorr
  0.88DISCX International StockPairCorr
  0.88DISAX International StockPairCorr
  0.92DITEX Dreyfus IntermediatePairCorr
  0.97PGROX Dreyfus Worldwide GrowthPairCorr
  0.97PGRCX Dreyfus Worldwide GrowthPairCorr
  0.98THPBX Dreyfus Balanced OppPairCorr
  0.96DLDCX Dreyfus Natural ResourcesPairCorr
  0.98DLQAX Dreyfus Large CapPairCorr
  0.96DMBAX Dreyfus Short IntermPairCorr
  0.95DMCVX Dreyfus OpportunisticPairCorr
  0.97DNLDX Dreyfus Active MidcapPairCorr
  0.97DNLCX Dreyfus Active MidcapPairCorr
  0.96DNLAX Dreyfus Natural ResourcesPairCorr
  1.0RUDAX Dreyfusthe Boston PanyPairCorr
  0.97DPLTX Dreyfus High YieldPairCorr
  0.92BYSYX Bny Mellon ShortPairCorr
  0.92BYSIX Bny Mellon ShortPairCorr
  0.92BYSAX Bny Mellon ShortPairCorr
  0.95AVGCX Dynamic Total ReturnPairCorr
  0.95AVGAX Dynamic Total ReturnPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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