Dreyfus Municipal Correlations

Mutual Funds . USA . 
Fund . Dreyfus Municipal Bond
DMBZX Fund  USD 12.01  0.03  0.25%   
The current 90-days correlation between Dreyfus Municipal Bond and Fidelity Advisor Gold is 0.04 (i.e., Significant diversification). The correlation of Dreyfus Municipal 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 Municipal Correlation With Market

Average diversification

The correlation between Dreyfus Municipal Bond and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Municipal 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 Municipal 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 nation.

Moving together with Dreyfus Mutual Fund

  0.87DHGCX Dreyfusstandish GlobalPairCorr
  0.86DHGAX Dreyfusstandish GlobalPairCorr
  0.99DHMBX Dreyfus High YieldPairCorr
  0.98DHYCX Dreyfus High YieldPairCorr
  0.99DHYAX Dreyfus High YieldPairCorr
  0.99DZNJX Dreyfus New JerseyPairCorr
  0.63DIBCX Dreyfus InternationalPairCorr
  0.62DIBAX Dreyfus InternationalPairCorr
  0.96DITEX Dreyfus IntermediatePairCorr
  0.99DMBCX Dreyfus Municipal BondPairCorr
  0.71DMBAX Dreyfus Short IntermPairCorr
  0.99DMUCX Dreyfus Amt FreePairCorr
  0.99DMUAX Dreyfus Amt FreePairCorr
  0.99DNYAX DnyaxPairCorr
  0.79DPLTX Dreyfus High YieldPairCorr
  0.63BYSYX Bny Mellon ShortPairCorr
  0.64BYSIX Bny Mellon ShortPairCorr
  0.66BYSAX Bny Mellon ShortPairCorr
  0.95PNYCX Dreyfus New YorkPairCorr

Moving against Dreyfus Mutual Fund

  0.35DLDCX Dreyfus Natural ResourcesPairCorr
  0.34DNLAX Dreyfus Natural ResourcesPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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