Dreyfus Natural Correlations

Mutual Funds . USA . 
Fund . Dreyfus Natural Resources
DLDCX Fund  USD 36.79  0.24  0.65%   
The current 90-days correlation between Dreyfus Natural Resources and Short Term Government Fund is -0.15 (i.e., Good diversification). The correlation of Dreyfus Natural 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 Natural Correlation With Market

Good diversification

The correlation between Dreyfus Natural Resources and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Natural Resources 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 Natural Resources. 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 main economic indicators.

Moving together with Dreyfus Mutual Fund

  0.86DISSX Dreyfus Smallcap StockPairCorr
  0.86DLQAX Dreyfus Large CapPairCorr
  0.87DMCVX Dreyfus OpportunisticPairCorr
  0.94DNLAX Dreyfus Natural ResourcesPairCorr
  0.69AVGAX Dynamic Total ReturnPairCorr
  0.88DVLCX Dreyfus OpportunisticPairCorr
  0.65DGAGX Dreyfus AppreciationPairCorr
  0.68DGEAX Dreyfus Global EmergingPairCorr
  0.7TRNEX T Rowe PricePairCorr
  0.63PRNEX T Rowe PricePairCorr
  0.95GEACX Gmo TrustPairCorr
  0.95GAAHX Gmo ResourcesPairCorr
  0.95GMOWX Gmo ResourcesPairCorr
  0.74CISGX Touchstone Sands CapitalPairCorr

Moving against Dreyfus Mutual Fund

  0.63GPNCX Dreyfus GnmaPairCorr
  0.59DMBAX Dreyfus Short IntermPairCorr
  0.52DHGCX Dreyfusstandish GlobalPairCorr
  0.48DIECX Dreyfus InternationalPairCorr
  0.48DIEAX Dreyfus InternationalPairCorr
  0.48DEQCX Dreyfus Global EquityPairCorr
  0.38DHMBX Dreyfus High YieldPairCorr
  0.79USGDX Morgan Stanley GovernmentPairCorr
  0.67HRBDX Harbor Bond FundPairCorr
  0.67ABNOX Ab Bond InflationPairCorr
  0.63VICSX Vanguard Intermediate-terPairCorr
  0.61UGPIX Ultrachina ProfundPairCorr
  0.61UGPSX Ultrachina ProfundPairCorr
  0.56GIOIX Guggenheim Macro OppPairCorr
  0.43PMPIX Precious Metals UltrPairCorr
  0.43UTF Cohen And SteersPairCorr
  0.42TIMUX Transamerica IntermediatePairCorr
  0.36HTD John Hancock TaxPairCorr
  0.33SGDLX Sprott Gold EquityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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