Dreyfus High Correlations

Mutual Funds . USA . 
Fund . Dreyfus High Yield
DHYAX Fund  USD 11.01  0.04  0.36%   
The current 90-days correlation between Dreyfus High Yield and Aqr Sustainable Long Short is -0.09 (i.e., Good 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 nation.

Moving together with Dreyfus Mutual Fund

  0.79DHGCX Dreyfusstandish GlobalPairCorr
  0.77DHGAX Dreyfusstandish GlobalPairCorr
  1.0DHMBX Dreyfus High YieldPairCorr
  1.0DHYCX Dreyfus High YieldPairCorr
  0.99DZNJX Dreyfus New JerseyPairCorr
  0.89DIBCX Dreyfus InternationalPairCorr
  0.88DIBAX Dreyfus InternationalPairCorr
  0.7DISSX Dreyfus Smallcap StockPairCorr
  0.7DISIX Dreyfus Smallcap StockPairCorr
  0.71DISCX International StockPairCorr
  0.77DISAX International StockPairCorr
  0.95DITEX Dreyfus IntermediatePairCorr
  0.82PGROX Dreyfus Worldwide GrowthPairCorr
  0.81PGRCX Dreyfus Worldwide GrowthPairCorr
  0.82THPBX Dreyfus Balanced OppPairCorr
  0.76DLQAX Dreyfus Large CapPairCorr
  1.0DMBCX Dreyfus Municipal BondPairCorr
  0.99DMBZX Dreyfus Municipal BondPairCorr
  0.7DMCVX Dreyfus OpportunisticPairCorr
  1.0DMUCX Dreyfus Amt FreePairCorr
  0.99DMUAX Dreyfus Amt FreePairCorr
  0.8DNLDX Dreyfus Active MidcapPairCorr
  0.79DNLCX Dreyfus Active MidcapPairCorr
  0.99DNYAX DnyaxPairCorr
  0.77RUDAX Dreyfusthe Boston PanyPairCorr
  0.66DPTAX Dreyfus Tax ManagedPairCorr
  0.82AVGCX Dynamic Total ReturnPairCorr
  0.79AVGAX Dynamic Total ReturnPairCorr
  0.99PNYCX Dreyfus New YorkPairCorr

Related Correlations Analysis

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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.

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