Dreyfus Amt-free Correlations

DMUAX Fund

USD 13.12 0.07 0.53%

The current 90-days correlation between Dreyfus Amt Free and Tweedy Browne Global is 0.19 (i.e., Average diversification). The correlation of Dreyfus Amt-free 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 Amt-free Correlation With Market

Significant diversification

The correlation between Dreyfus Amt Free Municipal and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Amt Free 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 Amt Free 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 nation.

Moving together with DREYFUS Mutual Fund

0.75	DHGCX	Dreyfusstandish Global	Pair Corr
0.78	DHGAX	Dreyfusstandish Global	Pair Corr
0.99	DHMBX	Dreyfus High Yield	Pair Corr
0.99	DHYCX	Dreyfus High Yield	Pair Corr
0.82	DHYAX	Dreyfus High Yield	Pair Corr
0.9	DZNJX	Dreyfus New Jersey	Pair Corr
0.82	DITEX	Dreyfus Intermediate	Pair Corr
1.0	DMBCX	Dreyfus Municipal Bond	Pair Corr
0.74	DMBAX	Dreyfus Short Interm	Pair Corr
0.99	DMBZX	Dreyfus Municipal Bond	Pair Corr
0.92	DMUCX	Dreyfus Amt Free	Pair Corr
0.99	DNYAX	Dnyax	Pair Corr
0.72	DPLTX	Dreyfus High Yield	Pair Corr
0.9	PNYCX	Dreyfus New York	Pair Corr

Moving against DREYFUS Mutual Fund

0.34	DLDCX	Dreyfus Natural Resources	Pair Corr
0.32	DISSX	Dreyfus Smallcap Stock	Pair Corr

Related Correlations Analysis

	TBCUX	AQGNX	DBIWX	TEDIX	QGMIX	ANAZX
TBCUX		0.61	0.77	0.86	0.94	0.72	TBCUX
AQGNX	0.61		0.88	0.78	0.64	0.65	AQGNX
DBIWX	0.77	0.88		0.88	0.74	0.85	DBIWX
TEDIX	0.86	0.78	0.88		0.83	0.79	TEDIX
QGMIX	0.94	0.64	0.74	0.83		0.74	QGMIX
ANAZX	0.72	0.65	0.85	0.79	0.74		ANAZX
	TBCUX	AQGNX	DBIWX	TEDIX	QGMIX	ANAZX

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Risk-Adjusted Indicators

There is a big difference between DREYFUS Mutual Fund performing well and Dreyfus Amt-free 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 Amt-free'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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TBCUX	0.59	0.12	0.16	(0.76)	0.54	(0.67)	1.49	(1.14)	4.33
AQGNX	0.83	0.11	0.10	0.11	0.92	(0.90)	1.55	(1.69)	5.59
DBIWX	0.26	0.01	0.04	(0.14)	0.33	(0.29)	0.48	(0.58)	1.77
TEDIX	0.61	0.03	0.02	0.06	1.53	(0.57)	1.01	(0.89)	7.35
QGMIX	0.37	0.12	0.25	(0.58)	0.17	(0.46)	0.83	(0.63)	2.42
ANAZX	0.18	0.00	0.00	0.07	0.19	(0.29)	0.44	(0.44)	1.32

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