Dreyfus International Correlations

DIBRX Fund

USD 12.83 0.10 0.79%

The current 90-days correlation between Dreyfus International and Ab Global Bond is 0.66 (i.e., Poor diversification). The correlation of Dreyfus International 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 International Correlation With Market

Very good diversification

The correlation between Dreyfus International Bond and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus International Bond 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 International Bond. 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 Dreyfus Mutual Fund

1.0	DIBYX	Dreyfus International	Pair Corr
0.92	DIEYX	Dreyfus International	Pair Corr
0.92	DIERX	Dreyfus International	Pair Corr
0.86	DINIX	Dreyfus International	Pair Corr
0.84	DISRX	International Stock	Pair Corr
0.84	DISYX	International Stock	Pair Corr
0.86	SDGIX	Dreyfusstandish Global	Pair Corr

Moving against Dreyfus Mutual Fund

0.81	DLACX	Dreyfus Large Cap	Pair Corr
0.81	DLQIX	Dreyfus Large Cap	Pair Corr
0.78	SDSCX	Dreyfusthe Boston Pany	Pair Corr
0.76	SSETX	Dreyfusthe Boston Pany	Pair Corr
0.76	SSYGX	Dreyfusthe Boston Pany	Pair Corr
0.74	STSVX	Dreyfusthe Boston Pany	Pair Corr
0.54	DLDYX	Dreyfus Natural Resources	Pair Corr
0.52	DLDRX	Dreyfus Natural Resources	Pair Corr
0.37	DLHRX	Dreyfus High Yield	Pair Corr
0.77	DQIYX	Dreyfus Equity Income	Pair Corr
0.76	DNLYX	Dreyfus Active Midcap	Pair Corr
0.76	DNLRX	Dreyfus Active Midcap	Pair Corr
0.75	DMCYX	Dreyfus Opportunistic	Pair Corr
0.75	DMIDX	Dreyfus Midcap Index	Pair Corr
0.52	DOPIX	Dreyfus Opportunistic	Pair Corr
0.48	AVGYX	Dynamic Total Return	Pair Corr
0.48	AVGRX	Dynamic Total Return	Pair Corr
0.43	DPTRX	Dreyfus Tax Managed	Pair Corr

Related Correlations Analysis

	ANAYX	PAGLX	BPGSX	EQTYX	MFIRX	MGGNX
ANAYX		-0.51	0.24	0.63	0.5	0.58	ANAYX
PAGLX	-0.51		0.32	-0.17	0.28	0.09	PAGLX
BPGSX	0.24	0.32		0.53	0.39	0.18	BPGSX
EQTYX	0.63	-0.17	0.53		0.29	0.34	EQTYX
MFIRX	0.5	0.28	0.39	0.29		0.87	MFIRX
MGGNX	0.58	0.09	0.18	0.34	0.87		MGGNX
	ANAYX	PAGLX	BPGSX	EQTYX	MFIRX	MGGNX

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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

MGGNX	+ 0.87	MFIRX
EQTYX	+ 0.63	ANAYX
MGGNX	+ 0.58	ANAYX
EQTYX	+ 0.53	BPGSX
MFIRX	+ 0.5	ANAYX
MFIRX	+ 0.39	BPGSX

High negative correlations

PAGLX	- 0.51	ANAYX
EQTYX	- 0.17	PAGLX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus International 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 International'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
ANAYX	0.18	(0.01)	(0.44)	0.36	0.21	(0.26)	0.43	(0.29)	1.01
PAGLX	0.52	0.05	(0.08)	(9.30)	0.69	(0.53)	1.14	(1.28)	3.68
BPGSX	0.57	(0.09)	(0.17)	(0.01)	0.69	(0.63)	1.03	(1.00)	3.02
EQTYX	0.41	(0.01)	(0.17)	0.07	0.41	(0.60)	1.11	(0.91)	2.53
MFIRX	0.09	0.00	(0.47)	0.21	0.00	(0.23)	0.19	(0.19)	0.76
MGGNX	0.19	0.01	(0.39)	(1.42)	0.17	(0.24)	0.34	(0.34)	1.13

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