Dreyfus Equity Correlations

Mutual Funds . USA . 
Fund . Dreyfus Equity Income
DQIAX Fund  USD 30.39  0.43  1.44%   
The current 90-days correlation between Dreyfus Equity Income and Us Government Securities is 0.11 (i.e., Average diversification). The correlation of Dreyfus Equity 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 Equity Correlation With Market

Poor diversification

The correlation between Dreyfus Equity Income and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Equity Income 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 Equity Income. 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

  0.92PGRCX Dreyfus Worldwide GrowthPairCorr
  0.88THPBX Dreyfus Balanced OppPairCorr
  0.8DLDCX Dreyfus Natural ResourcesPairCorr
  0.63DLQAX Dreyfus Large CapPairCorr
  0.95DMCVX Dreyfus OpportunisticPairCorr
  0.92DNLDX Dreyfus Active MidcapPairCorr
  0.8DNLAX Dreyfus Natural ResourcesPairCorr
  0.84RUDAX Dreyfusthe Boston PanyPairCorr
  0.65DPTAX Dreyfus Tax ManagedPairCorr
  0.84AVGCX Dynamic Total ReturnPairCorr
  0.84AVGAX Dynamic Total ReturnPairCorr
  1.0DQICX Dreyfus Equity IncomePairCorr
  0.88DREVX Dreyfus FundPairCorr
  0.9DREQX Dreyfus Research GrowthPairCorr

Moving against Dreyfus Mutual Fund

  0.49BYSYX Bny Mellon ShortPairCorr
  0.46BYSIX Bny Mellon ShortPairCorr
  0.42DIECX Dreyfus InternationalPairCorr
  0.42DIEAX Dreyfus InternationalPairCorr
  0.39DMBAX Dreyfus Short IntermPairCorr
  0.31DIISX Dreyfus InternationalPairCorr
  0.49DBIRX Dreyfus Bond MarketPairCorr
  0.49DBMIX Dreyfus Bond MarketPairCorr
  0.49GPGAX Dreyfus GnmaPairCorr
  0.46DSTIX Dreyfus Short TermPairCorr
  0.45DRGMX Dreyfus GnmaPairCorr
  0.45NIEAX Dreyfus/newton InternationalPairCorr
  0.41DCPIX Bny Mellon InsightPairCorr
  0.38DSIBX Dreyfus Short IntermPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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