Dreyfus High Correlations

DHMBX Fund

USD 10.77 0.05 0.46%

The current 90-days correlation between Dreyfus High Yield and Global Real Estate is 0.26 (i.e., Modest diversification). The correlation of Dreyfus High 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 High Correlation With Market

Average diversification

The correlation between Dreyfus High Yield and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus High Yield 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 Dreyfus High Yield. 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 bureau of labor statistics.

Moving together with Dreyfus Mutual Fund

0.81	DHGCX	Dreyfusstandish Global	Pair Corr
0.85	DHGAX	Dreyfusstandish Global	Pair Corr
1.0	DHYCX	Dreyfus High Yield	Pair Corr
1.0	DHYAX	Dreyfus High Yield	Pair Corr
0.92	DZNJX	Dreyfus New Jersey	Pair Corr
0.63	DIBCX	Dreyfus International	Pair Corr
0.62	DIBAX	Dreyfus International	Pair Corr
0.89	DITEX	Dreyfus Intermediate	Pair Corr
0.98	DMBCX	Dreyfus Municipal Bond	Pair Corr
0.66	DMBAX	Dreyfus Short Interm	Pair Corr
0.99	DMBZX	Dreyfus Municipal Bond	Pair Corr
0.93	DMUCX	Dreyfus Amt Free	Pair Corr
0.99	DMUAX	Dreyfus Amt Free	Pair Corr
0.98	DNYAX	Dnyax	Pair Corr
0.81	DPLTX	Dreyfus High Yield	Pair Corr
0.65	BYSIX	Bny Mellon Short	Pair Corr
0.91	PNYCX	Dreyfus New York	Pair Corr

Moving against Dreyfus Mutual Fund

0.46	DLDCX	Dreyfus Natural Resources	Pair Corr
0.31	DNLAX	Dreyfus Natural Resources	Pair Corr

Related Correlations Analysis

	RRSCX	PAREX	CREFX	FIKMX	VGSIX
RRSCX		0.95	0.94	0.75	0.97	RRSCX
PAREX	0.95		0.98	0.89	0.99	PAREX
CREFX	0.94	0.98		0.9	0.98	CREFX
FIKMX	0.75	0.89	0.9		0.85	FIKMX
VGSIX	0.97	0.99	0.98	0.85		VGSIX
	RRSCX	PAREX	CREFX	FIKMX	VGSIX

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Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus High 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 High'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
RRSCX	0.76	(0.01)	0.00	(0.05)	0.00	0.00	1.56	(1.56)	4.16
PAREX	0.93	0.01	0.00	(0.02)	0.00	0.00	1.65	(1.81)	4.47
CREFX	0.92	0.02	0.02	(0.01)	1.28	(0.86)	1.59	(1.75)	4.82
FIKMX	0.26	0.02	0.13	0.10	0.30	(0.29)	0.59	(0.49)	1.36
VGSIX	0.93	0.01	0.00	(0.03)	0.00	0.00	1.73	(1.97)	4.57

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