Dreyfus Institutional Correlations

DHLXX Fund

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The correlation of Dreyfus Institutional 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.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Dreyfus Institutional Reserves. Also, note that the market value of any money market fund could be closely tied with the direction of predictive economic indicators such as signals in interest.

Related Correlations Analysis

	ALEFX	ENPSX	VENAX	XGNTX	TMLAX	SMAPX
ALEFX		0.85	0.84	0.66	0.97	0.87	ALEFX
ENPSX	0.85		0.98	0.65	0.8	0.9	ENPSX
VENAX	0.84	0.98		0.54	0.82	0.93	VENAX
XGNTX	0.66	0.65	0.54		0.59	0.47	XGNTX
TMLAX	0.97	0.8	0.82	0.59		0.86	TMLAX
SMAPX	0.87	0.9	0.93	0.47	0.86		SMAPX
	ALEFX	ENPSX	VENAX	XGNTX	TMLAX	SMAPX

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Risk-Adjusted Indicators

There is a big difference between Dreyfus Money Market Fund performing well and Dreyfus Institutional Money Market 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 Institutional'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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ALEFX	0.96	0.14	0.16	(2.56)	1.16	(1.06)	1.96	(1.69)	6.21
ENPSX	1.40	0.28	0.13	0.24	1.90	(1.36)	3.17	(3.05)	8.59
VENAX	0.94	0.16	0.13	0.20	1.32	(0.91)	2.08	(2.19)	6.05
XGNTX	0.47	0.18	0.41	6.28	0.00	(0.59)	1.26	(0.78)	2.41
TMLAX	1.00	0.12	0.14	(1.22)	1.16	(1.14)	1.88	(1.92)	6.23
SMAPX	1.06	0.14	0.10	0.15	1.38	(1.21)	2.04	(1.84)	7.93

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Dreyfus Institutional Correlations

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