Dreyfusnewton International Correlations

Mutual Funds . USA . 
Fund . Dreyfusnewton International Equity
NIEAX Fund  USD 18.35  0.10  0.54%   
The current 90-days correlation between Dreyfusnewton International and Dreyfusstandish Global Fixed is 0.05 (i.e., Significant diversification). The correlation of Dreyfusnewton International 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.

Dreyfusnewton International Correlation With Market

Significant diversification

The correlation between Dreyfusnewton International Eq and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfusnewton International Eq and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Dreyfusnewton International Equity. 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 Dreyfusnewton Mutual Fund

  0.99DIECX Dreyfus InternationalPairCorr
  0.99DIEAX Dreyfus InternationalPairCorr
  0.98DIISX Dreyfus InternationalPairCorr
  0.91DISSX Dreyfus Smallcap StockPairCorr
  0.92DISIX Dreyfus Smallcap StockPairCorr
  0.93DISCX International StockPairCorr
  0.95DISAX International StockPairCorr
  0.91DITEX Dreyfus IntermediatePairCorr
  0.96PGROX Dreyfus Worldwide GrowthPairCorr
  0.96PGRCX Dreyfus Worldwide GrowthPairCorr
  0.95THPBX Dreyfus Balanced OppPairCorr
  0.94DLDCX Dreyfus Natural ResourcesPairCorr
  0.95DLQAX Dreyfus Large CapPairCorr
  0.93DMBAX Dreyfus Short IntermPairCorr
  0.95DMCVX Dreyfus OpportunisticPairCorr
  0.95DNLDX Dreyfus Active MidcapPairCorr
  0.94DNLCX Dreyfus Active MidcapPairCorr
  0.94DNLAX Dreyfus Natural ResourcesPairCorr
  0.92RUDAX Dreyfusthe Boston PanyPairCorr
  0.96DPLTX Dreyfus High YieldPairCorr
  0.92BYSYX Bny Mellon ShortPairCorr
  0.92BYSIX Bny Mellon ShortPairCorr
  0.92BYSAX Bny Mellon ShortPairCorr
  0.92AVGCX Dynamic Total ReturnPairCorr
  0.93AVGAX Dynamic Total ReturnPairCorr
  0.96DQICX Dreyfus Equity IncomePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Dreyfusnewton Mutual Fund performing well and Dreyfusnewton International 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 Dreyfusnewton International'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  0.19  0.01 (0.45)(10.51) 0.16 
(0.21)
 0.37 
(0.36)
 1.20 
DHGAX  0.19  0.01 (0.45)(5.21) 0.14 
(0.22)
 0.35 
(0.35)
 1.21 
DHMBX  0.23 (0.03) 0.00 (0.36) 0.00 
 0.00 
 0.49 
(0.49)
 1.66 
DHYCX  0.24  0.01 (0.38) 0.01  0.28 
(0.31)
 0.59 
(0.48)
 2.17 
DHYAX  0.24  0.01 (0.34)(0.02) 0.27 
(0.34)
 0.58 
(0.49)
 2.27 
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  0.01 (0.22) 0.34  0.44 
(0.43)
 0.78 
(0.62)
 2.59 
DIECX  0.48  0.21  0.10 (1.96) 0.20 
(0.54)
 1.34 
(0.98)
 2.91 
DIEAX  0.49  0.21  0.10 (1.98) 0.19 
(0.54)
 1.33 
(0.98)
 2.92 

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