Dreyfus Worldwide Correlations

DPWRX Fund

USD 77.03 0.76 1.00%

The current 90-days correlation between Dreyfus Worldwide Growth and Artisan Global Unconstrained is -0.15 (i.e., Good diversification). The correlation of Dreyfus Worldwide 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 Worldwide Correlation With Market

Poor diversification

The correlation between Dreyfus Worldwide Growth and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Worldwide Growth 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 Worldwide Growth. 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

0.62	DLHRX	Dreyfus High Yield	Pair Corr
0.65	DOPIX	Dreyfus Opportunistic	Pair Corr
1.0	DPRIX	Dreyfus Worldwide Growth	Pair Corr
0.72	AVGYX	Dynamic Total Return	Pair Corr
0.72	AVGRX	Dynamic Total Return	Pair Corr

Related Correlations Analysis

	APDPX	WRLDX	ZGFIX	CABIX	MGGNX	DHGCX
APDPX		0.5	0.34	-0.27	-0.13	-0.77	APDPX
WRLDX	0.5		0.79	0.4	0.39	-0.07	WRLDX
ZGFIX	0.34	0.79		0.55	0.65	0.2	ZGFIX
CABIX	-0.27	0.4	0.55		0.76	0.69	CABIX
MGGNX	-0.13	0.39	0.65	0.76		0.7	MGGNX
DHGCX	-0.77	-0.07	0.2	0.69	0.7		DHGCX
	APDPX	WRLDX	ZGFIX	CABIX	MGGNX	DHGCX

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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

ZGFIX	+ 0.79	WRLDX
MGGNX	+ 0.76	CABIX
DHGCX	+ 0.7	MGGNX
DHGCX	+ 0.69	CABIX
MGGNX	+ 0.65	ZGFIX
CABIX	+ 0.55	ZGFIX

High negative correlations

DHGCX	- 0.77	APDPX
CABIX	- 0.27	APDPX
MGGNX	- 0.13	APDPX
DHGCX	- 0.07	WRLDX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Worldwide 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 Worldwide'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
APDPX	0.11	0.00	(0.52)	0.00	0.00	(0.15)	0.20	(0.20)	0.69
WRLDX	0.47	(0.03)	(0.15)	0.06	0.43	(0.56)	0.92	(0.72)	2.75
ZGFIX	0.44	0.02	(0.07)	0.15	0.45	(0.49)	0.97	(0.92)	2.33
CABIX	0.29	0.02	(0.22)	0.45	0.29	(0.33)	0.56	(0.62)	1.86
MGGNX	0.19	0.02	(0.36)	(0.56)	0.15	(0.25)	0.34	(0.34)	1.13
DHGCX	0.15	(0.01)	(0.64)	(0.25)	0.17	(0.18)	0.31	(0.25)	0.96

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