Dreyfus California Correlations

DRCAX Fund

USD 13.50 0.03 0.22%

The current 90-days correlation between Dreyfus California Amt and American Funds Retirement is 0.03 (i.e., Significant diversification). The correlation of Dreyfus California 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 California Correlation With Market

Average diversification

The correlation between Dreyfus California Amt Free and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus California Amt Free 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 California Amt Free. 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

0.79	DHGCX	Dreyfusstandish Global	Pair Corr
0.65	DHGAX	Dreyfusstandish Global	Pair Corr
0.92	DHMBX	Dreyfus High Yield	Pair Corr
0.92	DHYCX	Dreyfus High Yield	Pair Corr
0.93	DHYAX	Dreyfus High Yield	Pair Corr
0.91	DZNJX	Dreyfus New Jersey	Pair Corr
0.76	DIBCX	Dreyfus International	Pair Corr
0.73	DIBAX	Dreyfus International	Pair Corr
0.72	DISSX	Dreyfus Smallcap Stock	Pair Corr
0.72	DISIX	Dreyfus Smallcap Stock	Pair Corr
0.63	DISCX	International Stock	Pair Corr
0.62	DISAX	International Stock	Pair Corr
0.9	DITEX	Dreyfus Intermediate	Pair Corr
0.78	PGROX	Dreyfus Worldwide Growth	Pair Corr
0.77	THPBX	Dreyfus Balanced Opp	Pair Corr
0.69	DLQAX	Dreyfus Large Cap	Pair Corr
0.93	DMBCX	Dreyfus Municipal Bond	Pair Corr
0.91	DMBZX	Dreyfus Municipal Bond	Pair Corr
0.98	DMUCX	Dreyfus Amt Free	Pair Corr
0.98	DMUAX	Dreyfus Amt Free	Pair Corr
0.75	DNLDX	Dreyfus Active Midcap	Pair Corr
0.75	DNLCX	Dreyfus Active Midcap	Pair Corr
0.98	DNYAX	Dnyax	Pair Corr
0.74	RUDAX	Dreyfusthe Boston Pany	Pair Corr
0.83	AVGCX	Dynamic Total Return	Pair Corr
0.8	AVGAX	Dynamic Total Return	Pair Corr
0.91	PNYCX	Dreyfus New York	Pair Corr
0.78	DREVX	Dreyfus Fund	Pair Corr

Related Correlations Analysis

	RRPPX	TDIFX	JLAIX	FHRVX	QCGLRX	TSIMX	VRRJX
RRPPX		0.97	0.71	0.92	0.95	0.93	0.93	RRPPX
TDIFX	0.97		0.77	0.97	0.92	0.96	0.95	TDIFX
JLAIX	0.71	0.77		0.8	0.69	0.81	0.79	JLAIX
FHRVX	0.92	0.97	0.8		0.91	0.99	0.98	FHRVX
QCGLRX	0.95	0.92	0.69	0.91		0.93	0.95	QCGLRX
TSIMX	0.93	0.96	0.81	0.99	0.93		0.99	TSIMX
VRRJX	0.93	0.95	0.79	0.98	0.95	0.99		VRRJX
	RRPPX	TDIFX	JLAIX	FHRVX	QCGLRX	TSIMX	VRRJX

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 California 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 California'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
RRPPX	0.31	0.04	0.08	0.16	0.39	(0.35)	0.62	(0.47)	2.37
TDIFX	0.15	0.01	0.05	0.11	0.13	(0.19)	0.35	(0.26)	1.30
JLAIX	0.21	0.00	0.01	0.02	0.27	(0.27)	0.40	(0.39)	1.71
FHRVX	0.26	0.03	0.06	0.11	0.32	(0.27)	0.62	(0.45)	1.96
QCGLRX	0.57	0.06	0.07	0.13	0.83	(0.55)	1.04	(0.98)	3.68
TSIMX	0.37	0.03	0.05	0.10	0.54	(0.36)	0.66	(0.67)	2.33
VRRJX	0.41	0.04	0.05	0.12	0.56	(0.45)	0.68	(0.66)	2.86

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

Dreyfus California Correlations

Dreyfus California Correlation With Market

Average diversification

Moving together with Dreyfus Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY