Dreyfus Tax Correlations

DPTAX Fund

USD 32.75 0.02 0.06%

The current 90-days correlation between Dreyfus Tax Managed and Rbc Bluebay Emerging is 0.1 (i.e., Average diversification). The correlation of Dreyfus Tax 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 Tax Correlation With Market

Modest diversification

The correlation between Dreyfus Tax Managed and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Tax Managed 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 Tax Managed. 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

0.66	DHMBX	Dreyfus High Yield	Pair Corr
0.68	DHYCX	Dreyfus High Yield	Pair Corr
0.66	DHYAX	Dreyfus High Yield	Pair Corr
0.78	DISSX	Dreyfus Smallcap Stock	Pair Corr
0.78	DISIX	Dreyfus Smallcap Stock	Pair Corr
0.81	THPBX	Dreyfus Balanced Opp	Pair Corr
0.89	DLDCX	Dreyfus Natural Resources	Pair Corr
0.83	DLQAX	Dreyfus Large Cap	Pair Corr
0.67	DMUCX	Dreyfus Amt Free	Pair Corr
0.62	DMUAX	Dreyfus Amt Free	Pair Corr
0.85	DNLDX	Dreyfus Active Midcap	Pair Corr
0.85	DNLCX	Dreyfus Active Midcap	Pair Corr
0.88	DNLAX	Dreyfus Natural Resources	Pair Corr
0.85	RUDAX	Dreyfusthe Boston Pany	Pair Corr
0.69	PNYCX	Dreyfus New York	Pair Corr
0.86	DQICX	Dreyfus Equity Income	Pair Corr
0.85	DQIAX	Dreyfus Equity Income	Pair Corr
0.61	DREQX	Dreyfus Research Growth	Pair Corr
0.91	DRTHX	The Dreyfus Sustainable	Pair Corr
0.82	DAGVX	Dreyfus Strategic Value	Pair Corr
0.81	DBOZX	Dreyfus Balanced Opp	Pair Corr
0.93	DTCCX	The Dreyfus Sustainable	Pair Corr

Moving against Dreyfus Mutual Fund

0.37

BYSYX

Bny Mellon Short

Pair Corr

Related Correlations Analysis

	RESAX	DODLX	ABNTX	MFIRX	SWSFX
RESAX		0.9	0.88	0.76	0.46	RESAX
DODLX	0.9		0.81	0.56	0.2	DODLX
ABNTX	0.88	0.81		0.9	0.66	ABNTX
MFIRX	0.76	0.56	0.9		0.88	MFIRX
SWSFX	0.46	0.2	0.66	0.88		SWSFX
	RESAX	DODLX	ABNTX	MFIRX	SWSFX

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Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Tax 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 Tax'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
RESAX	0.21	0.03	0.10	0.41	0.16	(0.27)	0.49	(0.36)	1.60
DODLX	0.24	0.02	0.08	0.18	0.23	(0.30)	0.57	(0.56)	1.69
ABNTX	0.14	0.02	0.14	0.55	0.00	(0.19)	0.30	(0.30)	0.99
MFIRX	0.11	0.03	0.13	0.62	0.00	(0.21)	0.19	(0.19)	0.76
SWSFX	0.05	0.01	0.00	(0.87)	0.00	0.00	0.10	0.00	0.69

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