Dreyfus Intermediate Correlations

Mutual Funds . USA . 
Fund . Dreyfus Intermediate Municipal
DITEX Fund  USD 12.49  0.06  0.48%   
The correlation of Dreyfus Intermediate 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 Intermediate Correlation With Market

Good diversification

The correlation between Dreyfus Intermediate Municipal and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Intermediate Municipal 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 Intermediate Municipal. 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 income.

Moving together with Dreyfus Mutual Fund

  0.88DHGCX Dreyfusstandish GlobalPairCorr
  0.8DHGAX Dreyfusstandish GlobalPairCorr
  0.87DHMBX Dreyfus High YieldPairCorr
  0.84DHYCX Dreyfus High YieldPairCorr
  0.96DHYAX Dreyfus High YieldPairCorr
  0.8DZNJX Dreyfus New JerseyPairCorr
  0.68DIBCX Dreyfus InternationalPairCorr
  0.69DIBAX Dreyfus InternationalPairCorr
  0.62DIECX Dreyfus InternationalPairCorr
  0.62DIEAX Dreyfus InternationalPairCorr
  0.69DIISX Dreyfus InternationalPairCorr
  0.81DMBCX Dreyfus Municipal BondPairCorr
  0.87DMBAX Dreyfus Short IntermPairCorr
  0.87DMBZX Dreyfus Municipal BondPairCorr
  0.8DMUCX Dreyfus Amt FreePairCorr
  0.83DMUAX Dreyfus Amt FreePairCorr
  0.93DNYAX DnyaxPairCorr
  0.86DPLTX Dreyfus High YieldPairCorr
  0.76BYSYX Bny Mellon ShortPairCorr
  0.76BYSIX Bny Mellon ShortPairCorr
  0.78BYSAX Bny Mellon ShortPairCorr
  0.73PNYCX Dreyfus New YorkPairCorr

Moving against Dreyfus Mutual Fund

  0.52DLDCX Dreyfus Natural ResourcesPairCorr
  0.43DISIX Dreyfus Smallcap StockPairCorr
  0.4DISSX Dreyfus Smallcap StockPairCorr
  0.51DNLAX Dreyfus Natural ResourcesPairCorr

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   
DRGMX
+ 0.91
DSIBX
FHIGX
+ 0.79
DSIBX
FHIGX
+ 0.61
DRGMX
DSIBX
+ 0.0
DRTAX
DRGMX
+ 0.0
DRTAX
FHIGX
+ 0.0
DRTAX
  
High negative correlations   
DRNYX
- 0.0
FHIGX
DRNYX
- 0.0
DRGMX
DRNYX
- 0.0
DSIBX
DRNYX
- 0.0
DRTAX
FHIGX
- 0.0
DRTAX
DRGMX
- 0.0
DRTAX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Intermediate 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 Intermediate'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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