Global Stock Correlations

DGLRX Fund  USD 21.16  0.14  0.67%   
The current 90-days correlation between Global Stock and Dreyfus High Yield is 0.06 (i.e., Significant 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

Very weak diversification

The correlation between Global Stock Fund 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 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 metropolitan statistical area.

Moving together with Global Mutual Fund

  0.74STSVX Dreyfusthe Boston PanyPairCorr
  0.82DLACX Dreyfus Large CapPairCorr
  0.8DLDRX Dreyfus Natural ResourcesPairCorr
  0.75DLQIX Dreyfus Large CapPairCorr
  0.93DMCYX Dreyfus OpportunisticPairCorr
  0.82DPRIX Dreyfus Worldwide GrowthPairCorr
  0.84DPTRX Dreyfus Tax ManagedPairCorr
  0.92DPWRX Dreyfus Worldwide GrowthPairCorr
  0.85DQEIX Dreyfus Global EquityPairCorr
  0.64AVGYX Dynamic Total ReturnPairCorr
  0.64AVGRX Dynamic Total ReturnPairCorr
  0.8DQIYX Dreyfus Equity IncomePairCorr
  0.8DQIRX Dreyfus Equity IncomePairCorr

Related Correlations Analysis

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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   
DIBYXDIBRX
DIERXDIEYX
DISYXDISRX
DINIXDIEYX
DINIXDIERX
DISRXDIEYX
  
High negative correlations   
DIERXSSETX
DIEYXSSETX
DISYXSSETX
DISRXSSETX
DINIXSSETX
DIBYXSSETX

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DHYYX  0.25 (0.04) 0.00 (0.47) 0.00 
 0.45 
 2.18 
SSETX  0.93  0.09  0.05  0.43  1.25 
 1.92 
 8.86 
DIBRX  0.35 (0.14) 0.00 (1.46) 0.00 
 0.60 
 4.00 
DIBYX  0.35 (0.14) 0.00 (1.37) 0.00 
 0.57 
 3.98 
DIEYX  0.63 (0.14) 0.00 (0.39) 0.00 
 1.06 
 3.88 
DIERX  0.63 (0.14) 0.00 (0.39) 0.00 
 1.03 
 3.91 
DIMIX  0.06 (0.02) 0.00  1.34  0.00 
 0.08 
 0.55 
DINIX  0.63 (0.12) 0.00 (0.35) 0.00 
 1.10 
 4.31 
DISRX  0.71 (0.18) 0.00 (0.47) 0.00 
 1.22 
 6.60 
DISYX  0.71 (0.18) 0.00 (0.46) 0.00 
 1.23 
 6.69