Dreyfus Worldwide Correlations

Mutual Funds . USA . 
Fund . Dreyfus Worldwide Growth
PGRCX Fund  USD 55.21  0.39  0.71%   
The current 90-days correlation between Dreyfus Worldwide Growth and Harbor Diversified International is 0.01 (i.e., Significant diversification). The correlation of Dreyfus Worldwide 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 Worldwide Correlation With Market

Very poor diversification

The correlation between Dreyfus Worldwide Growth and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Worldwide Growth and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Dreyfus Worldwide 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 main economic indicators.

Moving together with Dreyfus Mutual Fund

  0.96DIECX Dreyfus InternationalPairCorr
  0.96DIEAX Dreyfus InternationalPairCorr
  0.97DIISX Dreyfus InternationalPairCorr
  0.97DISSX Dreyfus Smallcap StockPairCorr
  0.97DISIX Dreyfus Smallcap StockPairCorr
  0.95DISCX International StockPairCorr
  0.93DISAX International StockPairCorr
  0.9DITEX Dreyfus IntermediatePairCorr
  0.98PGROX Dreyfus Worldwide GrowthPairCorr
  0.98THPBX Dreyfus Balanced OppPairCorr
  0.95DLDCX Dreyfus Natural ResourcesPairCorr
  0.93DMBAX Dreyfus Short IntermPairCorr
  0.97DMCVX Dreyfus OpportunisticPairCorr
  0.96DNLDX Dreyfus Active MidcapPairCorr
  0.98DNLCX Dreyfus Active MidcapPairCorr
  0.94DNLAX Dreyfus Natural ResourcesPairCorr
  0.96RUDAX Dreyfusthe Boston PanyPairCorr
  0.97DPLTX Dreyfus High YieldPairCorr
  0.91BYSYX Bny Mellon ShortPairCorr
  0.91BYSIX Bny Mellon ShortPairCorr
  0.9BYSAX Bny Mellon ShortPairCorr
  0.93AVGCX Dynamic Total ReturnPairCorr
  0.93AVGAX Dynamic Total ReturnPairCorr
  0.98DQICX Dreyfus Equity IncomePairCorr
  0.98DQIAX 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 Worldwide 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 Worldwide'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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