Dreyfus Worldwide Correlations

Mutual Funds . USA . 
Fund . Dreyfus Worldwide Growth
PGROX Fund  USD 70.77  0.33  0.47%   
The current 90-days correlation between Dreyfus Worldwide Growth and Lord Abbett Convertible is 0.72 (i.e., Poor 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

Poor diversification

The correlation between Dreyfus Worldwide Growth and DJI is 0.77 (i.e., 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 persons.

Moving together with Dreyfus Mutual Fund

  0.66DISSX Dreyfus Smallcap StockPairCorr
  0.66DISIX Dreyfus Smallcap StockPairCorr
  0.94DISCX International StockPairCorr
  0.78DITEX Dreyfus IntermediatePairCorr
  0.72PGRCX Dreyfus Worldwide GrowthPairCorr
  0.99THPBX Dreyfus Balanced OppPairCorr
  0.65DLDCX Dreyfus Natural ResourcesPairCorr
  0.99DLQAX Dreyfus Large CapPairCorr
  0.7DMBAX Dreyfus Short IntermPairCorr
  0.63DMCVX Dreyfus OpportunisticPairCorr
  0.98DNLDX Dreyfus Active MidcapPairCorr
  0.65DNLCX Dreyfus Active MidcapPairCorr
  0.64DNLAX Dreyfus Natural ResourcesPairCorr
  0.96RUDAX Dreyfusthe Boston PanyPairCorr
  0.97DPLTX Dreyfus High YieldPairCorr
  0.61BYSYX Bny Mellon ShortPairCorr
  0.62BYSIX Bny Mellon ShortPairCorr
  0.61BYSAX Bny Mellon ShortPairCorr
  0.66AVGCX Dynamic Total ReturnPairCorr
  0.66AVGAX 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 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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