Dreyfus Equity Correlations

Mutual Funds . USA . 
Fund . Dreyfus Equity Income
DQIYX Fund  USD 31.52  0.04  0.13%   
The current 90-days correlation between Dreyfus Equity Income and Franklin Federal Limited Term is 0.21 (i.e., Modest 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

Very weak diversification

The correlation between Dreyfus Equity Income and DJI is 0.44 (i.e., Very weak 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 manufacturing.

Moving together with Dreyfus Mutual Fund

  0.7DHYYX Dreyfus High YieldPairCorr
  0.66DIBRX Dreyfus InternationalPairCorr
  0.65DIBYX Dreyfus InternationalPairCorr
  0.79DISRX International StockPairCorr
  0.79DISYX International StockPairCorr
  0.81STSVX Dreyfusthe Boston PanyPairCorr
  0.77DLACX Dreyfus Large CapPairCorr
  0.81DLDYX Dreyfus Natural ResourcesPairCorr
  0.81DLDRX Dreyfus Natural ResourcesPairCorr
  0.77DLQIX Dreyfus Large CapPairCorr
  0.67DMBIX Dreyfus Amt FreePairCorr
  0.68DMBYX Dreyfus Municipal BondPairCorr
  0.68DMBVX Dreyfus Municipal BondPairCorr
  0.93DMCYX Dreyfus OpportunisticPairCorr
  0.69DMIDX Dreyfus Midcap IndexPairCorr
  0.68DMUYX Dreyfus Amt FreePairCorr
  0.66DNJYX Dreyfus New JerseyPairCorr
  0.85DNLYX Dreyfus Active MidcapPairCorr
  0.86DNLRX Dreyfus Active MidcapPairCorr
  0.68DNMIX Dreyfus New JerseyPairCorr
  0.7DNYIX Dreyfus New YorkPairCorr
  0.7DNYYX Dreyfus New YorkPairCorr
  0.87DOPIX Dreyfus OpportunisticPairCorr
  0.85DPRIX Dreyfus Worldwide GrowthPairCorr
  0.86DPTRX Dreyfus Tax ManagedPairCorr
  0.85DPWRX Dreyfus Worldwide GrowthPairCorr
  0.85DQEIX Dreyfus Global EquityPairCorr

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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