Dreyfus Active Correlations

DNLCX Fund

USD 58.48 0.14 0.24%

The current 90-days correlation between Dreyfus Active Midcap and Angel Oak Multi Strategy is -0.12 (i.e., Good diversification). The correlation of Dreyfus Active 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 Active Correlation With Market

Almost no diversification

The correlation between Dreyfus Active Midcap and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Active Midcap 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 Active Midcap. 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

0.95	DISSX	Dreyfus Smallcap Stock	Pair Corr
0.95	DISIX	Dreyfus Smallcap Stock	Pair Corr
0.98	THPBX	Dreyfus Balanced Opp	Pair Corr
0.8	DLDCX	Dreyfus Natural Resources	Pair Corr
0.97	DLQAX	Dreyfus Large Cap	Pair Corr
0.99	DMCVX	Dreyfus Opportunistic	Pair Corr
1.0	DNLDX	Dreyfus Active Midcap	Pair Corr
0.81	DNLAX	Dreyfus Natural Resources	Pair Corr
0.98	RUDAX	Dreyfusthe Boston Pany	Pair Corr
0.73	DPLTX	Dreyfus High Yield	Pair Corr
0.79	DPTAX	Dreyfus Tax Managed	Pair Corr
0.78	AVGCX	Dynamic Total Return	Pair Corr
0.81	AVGAX	Dynamic Total Return	Pair Corr
0.94	DQICX	Dreyfus Equity Income	Pair Corr
0.94	DQIAX	Dreyfus Equity Income	Pair Corr

Moving against Dreyfus Mutual Fund

0.76	DIBCX	Dreyfus International	Pair Corr
0.76	DIBAX	Dreyfus International	Pair Corr
0.72	DIECX	Dreyfus International	Pair Corr
0.71	DIEAX	Dreyfus International	Pair Corr
0.62	DISCX	International Stock	Pair Corr
0.61	DISAX	International Stock	Pair Corr
0.59	DIISX	Dreyfus International	Pair Corr
0.53	DHGCX	Dreyfusstandish Global	Pair Corr
0.5	DHGAX	Dreyfusstandish Global	Pair Corr
0.32	DITEX	Dreyfus Intermediate	Pair Corr
0.38	BYSAX	Bny Mellon Short	Pair Corr

Related Correlations Analysis

	ANGCX	BOGSX	FEMDX	EMSLX	GAGPX	POEIX	APDOX
ANGCX		-0.64	-0.42	0.08	0.09	-0.13	-0.44	ANGCX
BOGSX	-0.64		0.76	0.41	0.38	0.62	0.79	BOGSX
FEMDX	-0.42	0.76		0.43	0.35	0.61	0.98	FEMDX
EMSLX	0.08	0.41	0.43		0.98	0.94	0.44	EMSLX
GAGPX	0.09	0.38	0.35	0.98		0.94	0.36	GAGPX
POEIX	-0.13	0.62	0.61	0.94	0.94		0.62	POEIX
APDOX	-0.44	0.79	0.98	0.44	0.36	0.62		APDOX
	ANGCX	BOGSX	FEMDX	EMSLX	GAGPX	POEIX	APDOX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

APDOX	+ 0.98	FEMDX
GAGPX	+ 0.98	EMSLX
POEIX	+ 0.94	EMSLX
POEIX	+ 0.94	GAGPX
APDOX	+ 0.79	BOGSX
FEMDX	+ 0.76	BOGSX

High negative correlations

BOGSX	- 0.64	ANGCX
APDOX	- 0.44	ANGCX
FEMDX	- 0.42	ANGCX
POEIX	- 0.13	ANGCX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Active 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 Active'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
ANGCX	0.10	(0.01)	(0.75)	0.42	0.11	(0.16)	0.23	(0.23)	0.70
BOGSX	0.96	(0.12)	(0.05)	0.03	1.39	(0.95)	1.88	(2.25)	5.68
FEMDX	0.15	0.03	(0.40)	0.58	0.00	(0.21)	0.42	(0.25)	1.08
EMSLX	0.72	(0.05)	0.00	(0.10)	0.00	0.00	1.76	(1.08)	6.36
GAGPX	0.71	(0.08)	0.00	(0.10)	0.00	0.00	1.43	(1.84)	5.18
POEIX	0.77	(0.06)	(0.11)	0.00	0.94	(0.86)	1.54	(1.82)	5.70
APDOX	0.15	0.01	(0.40)	0.23	0.07	(0.21)	0.39	(0.20)	0.78

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC