Dreyfus High Correlations

DLHRX Fund  USD 5.37  0.01  0.19%   
The current 90-days correlation between Dreyfus High Yield and Pro Blend Moderate Term is 0.5 (i.e., Very weak 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

Weak diversification

The correlation between Dreyfus High Yield and DJI is 0.37 (i.e., Weak 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 metropolitan statistical area.

Moving together with Dreyfus Mutual Fund

  0.77DHYYX Dreyfus High YieldPairCorr
  0.63DIBRX Dreyfus InternationalPairCorr
  0.64DIBYX Dreyfus InternationalPairCorr
  0.73DIEYX Dreyfus InternationalPairCorr
  0.73DIERX Dreyfus InternationalPairCorr
  0.91DIMIX Dreyfus Short IntermPairCorr
  0.79DINIX Dreyfus InternationalPairCorr
  0.73DISRX International StockPairCorr
  0.73DISYX International StockPairCorr
  0.79SDGIX Dreyfusstandish GlobalPairCorr
  0.82DMBIX Dreyfus Amt FreePairCorr
  0.81DMBYX Dreyfus Municipal BondPairCorr
  0.81DMBVX Dreyfus Municipal BondPairCorr
  0.82DMUYX Dreyfus Amt FreePairCorr
  0.89DMYBX Dreyfus Short IntermPairCorr
  0.77DNJYX Dreyfus New JerseyPairCorr
  0.77DNMIX Dreyfus New JerseyPairCorr
  0.77DNYIX Dreyfus New YorkPairCorr
  0.77DNYYX Dreyfus New YorkPairCorr
  0.72DQEIX Dreyfus Global EquityPairCorr

Moving against Dreyfus Mutual Fund

  0.35DMIDX Dreyfus Midcap IndexPairCorr
  0.33DRYQX Dreyfus Research GrowthPairCorr

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.