Dreyfus Tax Correlations

DPTRX Fund

USD 31.18 0.06 0.19%

The current 90-days correlation between Dreyfus Tax Managed and Invesco Real Estate is 0.31 (i.e., Weak 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

Weak diversification

The correlation between Dreyfus Tax Managed and DJI is 0.39 (i.e., Weak 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 metropolitan statistical area.

Moving together with Dreyfus Mutual Fund

0.79	SSETX	Dreyfusthe Boston Pany	Pair Corr
0.79	SSYGX	Dreyfusthe Boston Pany	Pair Corr
0.62	STSVX	Dreyfusthe Boston Pany	Pair Corr
0.75	SDSCX	Dreyfusthe Boston Pany	Pair Corr
0.73	DMCYX	Dreyfus Opportunistic	Pair Corr
0.7	DNLYX	Dreyfus Active Midcap	Pair Corr
0.71	DNLRX	Dreyfus Active Midcap	Pair Corr
0.73	DOPIX	Dreyfus Opportunistic	Pair Corr
0.78	DPRIX	Dreyfus Worldwide Growth	Pair Corr
0.78	DPWRX	Dreyfus Worldwide Growth	Pair Corr
0.69	AVGYX	Dynamic Total Return	Pair Corr
0.7	AVGRX	Dynamic Total Return	Pair Corr
0.79	DQIYX	Dreyfus Equity Income	Pair Corr

Moving against Dreyfus Mutual Fund

0.54	DIEYX	Dreyfus International	Pair Corr
0.54	DIERX	Dreyfus International	Pair Corr
0.44	DINIX	Dreyfus International	Pair Corr
0.43	DIBRX	Dreyfus International	Pair Corr
0.43	DIBYX	Dreyfus International	Pair Corr
0.32	DIMIX	Dreyfus Short Interm	Pair Corr
0.41	DQEIX	Dreyfus Global Equity	Pair Corr
0.34	DMYBX	Dreyfus Short Interm	Pair Corr

Related Correlations Analysis

	REINX	FRIOX	RRSCX	MRESX	CREMX
REINX		0.84	0.96	1.0	0.51	REINX
FRIOX	0.84		0.76	0.83	0.87	FRIOX
RRSCX	0.96	0.76		0.96	0.43	RRSCX
MRESX	1.0	0.83	0.96		0.49	MRESX
CREMX	0.51	0.87	0.43	0.49		CREMX
	REINX	FRIOX	RRSCX	MRESX	CREMX

Click cells to compare fundamentals

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
REINX	0.90	(0.01)	0.00	(0.08)	0.00	0.00	1.61	(1.78)	4.62
FRIOX	0.26	0.02	0.19	0.06	0.32	(0.29)	0.59	(0.50)	1.30
RRSCX	0.75	(0.02)	0.00	(0.09)	0.00	0.00	1.56	(1.56)	4.16
MRESX	0.91	(0.01)	0.00	(0.09)	0.00	0.00	1.67	(1.75)	4.48
CREMX	0.02	0.02	0.00	14.01	0.00	0.00	0.08	0.00	0.08

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