Dynamic Total Correlations

AVGYX Fund

USD 14.19 0.03 0.21%

The current 90-days correlation between Dynamic Total Return and Rationalpier 88 Convertible is 0.58 (i.e., Very weak diversification). The correlation of Dynamic Total 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.

Dynamic Total Correlation With Market

Very weak diversification

The correlation between Dynamic Total Return and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dynamic Total Return and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Dynamic Total Return. 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 manufacturing.

Moving together with Dynamic Mutual Fund

0.86	SSETX	Dreyfusthe Boston Pany	Pair Corr
0.86	SSYGX	Dreyfusthe Boston Pany	Pair Corr
0.75	STSVX	Dreyfusthe Boston Pany	Pair Corr
0.87	SDSCX	Dreyfusthe Boston Pany	Pair Corr
0.69	DLDYX	Dreyfus Natural Resources	Pair Corr
0.69	DLDRX	Dreyfus Natural Resources	Pair Corr
0.81	DMCYX	Dreyfus Opportunistic	Pair Corr
0.64	DMIDX	Dreyfus Midcap Index	Pair Corr
0.81	DNLYX	Dreyfus Active Midcap	Pair Corr
0.81	DNLRX	Dreyfus Active Midcap	Pair Corr
0.87	DOPIX	Dreyfus Opportunistic	Pair Corr
0.73	DPRIX	Dreyfus Worldwide Growth	Pair Corr
0.69	DPTRX	Dreyfus Tax Managed	Pair Corr
0.73	DPWRX	Dreyfus Worldwide Growth	Pair Corr
1.0	AVGRX	Dynamic Total Return	Pair Corr
0.84	DQIYX	Dreyfus Equity Income	Pair Corr

Moving against Dynamic Mutual Fund

0.55	DIEYX	Dreyfus International	Pair Corr
0.55	DIERX	Dreyfus International	Pair Corr
0.44	DIBRX	Dreyfus International	Pair Corr
0.44	DIBYX	Dreyfus International	Pair Corr
0.44	DINIX	Dreyfus International	Pair Corr
0.37	DIMIX	Dreyfus Short Interm	Pair Corr
0.45	DQEIX	Dreyfus Global Equity	Pair Corr
0.39	DMYBX	Dreyfus Short Interm	Pair Corr

Related Correlations Analysis

	PBXIX	NCIDX	CCD	GCV	PCNTX	ARBOX	VAADX
PBXIX		0.93	0.79	0.55	0.93	-0.28	0.92	PBXIX
NCIDX	0.93		0.83	0.53	0.98	-0.39	0.98	NCIDX
CCD	0.79	0.83		0.24	0.89	-0.66	0.88	CCD
GCV	0.55	0.53	0.24		0.42	0.31	0.43	GCV
PCNTX	0.93	0.98	0.89	0.42		-0.52	1.0	PCNTX
ARBOX	-0.28	-0.39	-0.66	0.31	-0.52		-0.52	ARBOX
VAADX	0.92	0.98	0.88	0.43	1.0	-0.52		VAADX
	PBXIX	NCIDX	CCD	GCV	PCNTX	ARBOX	VAADX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

VAADX	+ 1.0	PCNTX
PCNTX	+ 0.98	NCIDX
VAADX	+ 0.98	NCIDX
NCIDX	+ 0.93	PBXIX
PCNTX	+ 0.93	PBXIX
VAADX	+ 0.92	PBXIX

High negative correlations

ARBOX	- 0.66	CCD
VAADX	- 0.52	ARBOX
ARBOX	- 0.52	PCNTX
ARBOX	- 0.39	NCIDX
ARBOX	- 0.28	PBXIX

Risk-Adjusted Indicators

There is a big difference between Dynamic Mutual Fund performing well and Dynamic Total 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 Dynamic Total'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 Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
PBXIX	0.43	(0.03)	(0.14)	0.81	(0.90)	2.66
NCIDX	0.59	(0.04)	(0.14)	1.03	(1.38)	3.23
CCD	0.77	(0.08)	(0.26)	1.41	(1.67)	7.13
GCV	0.92	0.01	(0.05)	2.17	(2.14)	6.16
PCNTX	0.64	(0.06)	(0.16)	1.07	(1.68)	3.46
ARBOX	0.05	0.02	0.89	0.09	0.00	0.18
VAADX	0.67	(0.07)	(0.19)	1.13	(1.60)	3.27

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