Dreyfus Natural Correlations

DLDRX Fund

USD 43.25 0.28 0.64%

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

Very weak diversification

The correlation between Dreyfus Natural Resources and DJI is 0.52 (i.e., Very weak 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 metropolitan statistical area.

Moving together with Dreyfus Mutual Fund

0.76	SSETX	Dreyfusthe Boston Pany	Pair Corr
0.83	SSYGX	Dreyfusthe Boston Pany	Pair Corr
0.89	STSVX	Dreyfusthe Boston Pany	Pair Corr
0.86	DLACX	Dreyfus Large Cap	Pair Corr
0.84	SDSCX	Dreyfusthe Boston Pany	Pair Corr
1.0	DLDYX	Dreyfus Natural Resources	Pair Corr
0.86	DLQIX	Dreyfus Large Cap	Pair Corr
0.87	DMCYX	Dreyfus Opportunistic	Pair Corr
0.82	DNLYX	Dreyfus Active Midcap	Pair Corr
0.82	DNLRX	Dreyfus Active Midcap	Pair Corr
0.85	DOPIX	Dreyfus Opportunistic	Pair Corr
0.68	AVGRX	Dynamic Total Return	Pair Corr
0.8	DQIYX	Dreyfus Equity Income	Pair Corr

Moving against Dreyfus Mutual Fund

0.61	DIBRX	Dreyfus International	Pair Corr
0.61	DIBYX	Dreyfus International	Pair Corr
0.47	SDGIX	Dreyfusstandish Global	Pair Corr
0.46	DIEYX	Dreyfus International	Pair Corr
0.46	DIERX	Dreyfus International	Pair Corr
0.44	DIMIX	Dreyfus Short Interm	Pair Corr
0.41	DINIX	Dreyfus International	Pair Corr
0.37	DHYYX	Dreyfus High Yield	Pair Corr
0.48	DMYBX	Dreyfus Short Interm	Pair Corr
0.47	DQEIX	Dreyfus Global Equity	Pair Corr
0.32	DMBYX	Dreyfus Municipal Bond	Pair Corr
0.32	DMBVX	Dreyfus Municipal Bond	Pair Corr
0.48	NIEYX	Dreyfus/newton International	Pair Corr
0.47	DSDYX	Dreyfusstandish Global	Pair Corr

Related Correlations Analysis

	AEYXX	VMRXX	IAAEX	FNPIX	FIKBX	SBFAX
AEYXX		0.0	0.0	0.0	0.0	0.0	AEYXX
VMRXX	0.0		-0.07	0.31	-0.02	0.27	VMRXX
IAAEX	0.0	-0.07		0.32	0.34	0.19	IAAEX
FNPIX	0.0	0.31	0.32		0.85	0.92	FNPIX
FIKBX	0.0	-0.02	0.34	0.85		0.92	FIKBX
SBFAX	0.0	0.27	0.19	0.92	0.92		SBFAX
	AEYXX	VMRXX	IAAEX	FNPIX	FIKBX	SBFAX

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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

SBFAX	+ 0.92	FNPIX
SBFAX	+ 0.92	FIKBX
FIKBX	+ 0.85	FNPIX
FIKBX	+ 0.34	IAAEX
FNPIX	+ 0.32	IAAEX
FNPIX	+ 0.31	VMRXX

High negative correlations

IAAEX	- 0.07	VMRXX
FIKBX	- 0.02	VMRXX
SBFAX	- 0.0	AEYXX
FIKBX	- 0.0	AEYXX
FNPIX	- 0.0	AEYXX
IAAEX	- 0.0	AEYXX

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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AEYXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VMRXX	0.03	0.01	(0.84)	0.00	0.00	0.00	0.00	1.01
IAAEX	0.81	(0.12)	1.00	0.00	0.00	1.41	(1.48)	9.17
FNPIX	1.27	0.01	(0.10)	1.87	(1.25)	2.66	(3.48)	9.08
FIKBX	0.90	(0.05)	(0.04)	0.00	0.00	1.73	(2.69)	6.29
SBFAX	0.77	0.00	0.00	1.15	(0.80)	1.69	(1.92)	5.22

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