Dreyfus Active Correlations

Mutual Funds USA . 
Fund . Dreyfus Active Midcap
DNLYX Fund  USD 60.19  0.06  0.1%   
The current 90-days correlation between Dreyfus Active Midcap and Qs Defensive Growth is 0.4 (i.e., Very weak 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

Poor diversification

The correlation between Dreyfus Active Midcap and DJI is 0.64 (i.e., Poor 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 manufacturing.

Moving together with Dreyfus Mutual Fund

  0.82DHYYX Dreyfus High YieldPairCorr
  0.77DIBRX Dreyfus InternationalPairCorr
  0.76DIBYX Dreyfus InternationalPairCorr
  0.76DISRX International StockPairCorr
  0.77DISYX International StockPairCorr
  0.99STSVX Dreyfusthe Boston PanyPairCorr
  0.97DLACX Dreyfus Large CapPairCorr
  0.82DLDYX Dreyfus Natural ResourcesPairCorr
  0.82DLDRX Dreyfus Natural ResourcesPairCorr
  0.84DLQIX Dreyfus Large CapPairCorr
  0.73DMBIX Dreyfus Amt FreePairCorr
  0.76DMBYX Dreyfus Municipal BondPairCorr
  0.76DMBVX Dreyfus Municipal BondPairCorr
  0.91DMCYX Dreyfus OpportunisticPairCorr
  0.92DMIDX Dreyfus Midcap IndexPairCorr
  0.74DMUYX Dreyfus Amt FreePairCorr
  0.72DNJYX Dreyfus New JerseyPairCorr
  1.0DNLRX Dreyfus Active MidcapPairCorr
  0.73DNMIX Dreyfus New JerseyPairCorr
  0.76DNYIX Dreyfus New YorkPairCorr
  0.76DNYYX Dreyfus New YorkPairCorr
  0.89DOPIX Dreyfus OpportunisticPairCorr
  0.94DPRIX Dreyfus Worldwide GrowthPairCorr
  0.86DPTRX Dreyfus Tax ManagedPairCorr
  0.86DPWRX Dreyfus Worldwide GrowthPairCorr
  0.96DQEIX Dreyfus Global EquityPairCorr
  0.88DQIYX Dreyfus Equity IncomePairCorr

Related Correlations Analysis

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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.

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