Global Stock Correlations

DGLAX Fund

USD 20.60 0.04 0.19%

The current 90-days correlation between Global Stock and International Stock Fund is 0.73 (i.e., Poor diversification). The correlation of Global Stock 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.

Global Stock Correlation With Market

Significant diversification

The correlation between Global Stock Fund and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Stock Fund 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 Global Stock Fund. 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 Global Mutual Fund

0.92	PGROX	Dreyfus Worldwide Growth	Pair Corr
0.92	PGRCX	Dreyfus Worldwide Growth	Pair Corr
0.76	THPBX	Dreyfus Balanced Opp	Pair Corr
0.75	DLDCX	Dreyfus Natural Resources	Pair Corr
0.82	DLQAX	Dreyfus Large Cap	Pair Corr
0.9	DMCVX	Dreyfus Opportunistic	Pair Corr
0.64	DNLDX	Dreyfus Active Midcap	Pair Corr
0.67	DNLCX	Dreyfus Active Midcap	Pair Corr
0.8	DNLAX	Dreyfus Natural Resources	Pair Corr
0.81	RUDAX	Dreyfusthe Boston Pany	Pair Corr
0.8	DPTAX	Dreyfus Tax Managed	Pair Corr
0.76	AVGCX	Dynamic Total Return	Pair Corr
0.76	AVGAX	Dynamic Total Return	Pair Corr

Related Correlations Analysis

	DISAX	DGLRX	DGLCX	PKSAX	TADGX
DISAX		0.56	0.59	-0.23	0.43	DISAX
DGLRX	0.56		1.0	0.5	0.88	DGLRX
DGLCX	0.59	1.0		0.47	0.88	DGLCX
PKSAX	-0.23	0.5	0.47		0.54	PKSAX
TADGX	0.43	0.88	0.88	0.54		TADGX
	DISAX	DGLRX	DGLCX	PKSAX	TADGX

Click cells to compare fundamentals

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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

DGLCX	+ 1.0	DGLRX
TADGX	+ 0.88	DGLRX
TADGX	+ 0.88	DGLCX
DGLCX	+ 0.59	DISAX
DGLRX	+ 0.56	DISAX
TADGX	+ 0.54	PKSAX

High negative correlations

PKSAX

- 0.23

DISAX

Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global Stock 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 Global Stock'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
DISAX	0.70	(0.17)	(2.81)	1.19	(1.93)	6.37
DGLRX	0.65	(0.14)	(1.01)	0.96	(1.26)	10.27
DGLCX	0.65	(0.15)	(1.05)	0.98	(1.27)	10.81
PKSAX	0.74	(0.06)	(0.91)	1.57	(1.23)	12.34
TADGX	0.52	(0.08)	(0.52)	0.91	(0.94)	5.89

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