Dreyfus Opportunistic Correlations

Mutual Funds . USA . 
Fund . Dreyfus Opportunistic Small
DOPIX Fund  USD 29.74  0.33  1.10%   
The current 90-days correlation between Dreyfus Opportunistic and Dreyfus Opportunistic Small is 1.0 (i.e., No risk reduction). The correlation of Dreyfus Opportunistic 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 Opportunistic Correlation With Market

Poor diversification

The correlation between Dreyfus Opportunistic Small and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Opportunistic Small 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 Opportunistic Small. 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 gross domestic product.

Moving together with DREYFUS Mutual Fund

  0.98SSETX Dreyfusthe Boston PanyPairCorr
  0.98SSYGX Dreyfusthe Boston PanyPairCorr
  0.99STSVX Dreyfusthe Boston PanyPairCorr
  0.97DLACX Dreyfus Large CapPairCorr
  0.99SDSCX Dreyfusthe Boston PanyPairCorr
  0.85DLDYX Dreyfus Natural ResourcesPairCorr
  0.85DLDRX Dreyfus Natural ResourcesPairCorr
  0.97DLQIX Dreyfus Large CapPairCorr
  0.98DMCYX Dreyfus OpportunisticPairCorr
  0.78DMIDX Dreyfus Midcap IndexPairCorr
  0.99DNLYX Dreyfus Active MidcapPairCorr
  0.99DNLRX Dreyfus Active MidcapPairCorr
  0.83DPRIX Dreyfus Worldwide GrowthPairCorr
  0.73DPTRX Dreyfus Tax ManagedPairCorr
  0.83DPWRX Dreyfus Worldwide GrowthPairCorr
  0.8AVGYX Dynamic Total ReturnPairCorr
  0.86AVGRX Dynamic Total ReturnPairCorr
  0.95DQIYX Dreyfus Equity IncomePairCorr

Moving against DREYFUS Mutual Fund

  0.5DIEYX Dreyfus InternationalPairCorr
  0.5DIERX Dreyfus InternationalPairCorr
  0.49DIBRX Dreyfus InternationalPairCorr
  0.49DIBYX Dreyfus InternationalPairCorr
  0.4DINIX Dreyfus InternationalPairCorr
  0.37DIMIX Dreyfus Short IntermPairCorr
  0.46DQEIX Dreyfus Global EquityPairCorr
  0.39DMYBX Dreyfus Short IntermPairCorr
  0.5NIEYX Dreyfus/newton InternationalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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