Dreyfus Gnma Correlations

DRGMX Fund

USD 12.82 0.04 0.31%

The current 90-days correlation between Dreyfus Gnma and Bbh Partner Fund is 0.02 (i.e., Significant diversification). The correlation of Dreyfus Gnma 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 Gnma Correlation With Market

Average diversification

The correlation between Dreyfus Gnma Fund and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Gnma Fund 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 Gnma Fund. 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 population.

Moving together with Dreyfus Mutual Fund

0.96	VFIJX	Vanguard Gnma	Pair Corr
0.95	VSIGX	Vanguard Intermediate	Pair Corr
0.95	UGSFX	Us Government Securities	Pair Corr
0.99	AMUSX	Us Government Securities	Pair Corr
0.95	FSUGX	American Funds Government	Pair Corr
0.99	UGSCX	Us Government Securities	Pair Corr
0.99	FSUUX	American Funds Government	Pair Corr
0.99	VMBSX	Vanguard Mortgage-backed	Pair Corr
0.96	VFIIX	Vanguard Gnma	Pair Corr
0.96	FUTBX	Fidelity Sai Treasury	Pair Corr
0.83	KO	Coca Cola Sell-off Trend	Pair Corr

Moving against Dreyfus Mutual Fund

0.67	SAGAX	Ridgeworth Innovative	Pair Corr
0.66	AMGIX	Income Growth	Pair Corr
0.53	GAPIX	Goldman Sachs Equity	Pair Corr
0.82	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.77	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.76	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.75	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.73	BAC	Bank of America Aggressive Push	Pair Corr
0.64	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.62	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.61	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.58	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.57	DIS	Walt Disney Aggressive Push	Pair Corr
0.49	T	ATT Inc Aggressive Push	Pair Corr
0.47	HD	Home Depot Sell-off Trend	Pair Corr

Related Correlations Analysis

	BBHLX	TWBIX	VISGX	APDTX	BOSVX	AUERX	ABVCX
BBHLX		0.29	-0.22	-0.04	-0.13	0.39	-0.21	BBHLX
TWBIX	0.29		0.78	0.87	0.75	0.87	0.78	TWBIX
VISGX	-0.22	0.78		0.91	0.93	0.73	0.98	VISGX
APDTX	-0.04	0.87	0.91		0.77	0.81	0.93	APDTX
BOSVX	-0.13	0.75	0.93	0.77		0.75	0.9	BOSVX
AUERX	0.39	0.87	0.73	0.81	0.75		0.74	AUERX
ABVCX	-0.21	0.78	0.98	0.93	0.9	0.74		ABVCX
	BBHLX	TWBIX	VISGX	APDTX	BOSVX	AUERX	ABVCX

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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

ABVCX	+ 0.98	VISGX
BOSVX	+ 0.93	VISGX
ABVCX	+ 0.93	APDTX
APDTX	+ 0.91	VISGX
ABVCX	+ 0.9	BOSVX
APDTX	+ 0.87	TWBIX

High negative correlations

VISGX	- 0.22	BBHLX
ABVCX	- 0.21	BBHLX
BOSVX	- 0.13	BBHLX
APDTX	- 0.04	BBHLX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Gnma 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 Gnma'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
BBHLX	0.64	(0.10)	0.00	(0.06)	0.00	0.00	1.41	(1.28)	3.65
TWBIX	0.36	(0.03)	(0.17)	0.06	0.44	(0.38)	0.77	(0.92)	2.38
VISGX	0.83	0.07	0.09	0.17	0.86	(0.96)	1.78	(1.50)	5.31
APDTX	0.78	0.03	0.01	0.16	1.01	(0.78)	1.73	(1.27)	5.07
BOSVX	0.97	(0.07)	(0.01)	0.07	0.89	(1.15)	2.11	(1.62)	8.98
AUERX	0.74	(0.09)	(0.08)	0.03	0.98	(0.77)	1.62	(1.45)	4.29
ABVCX	0.54	0.04	0.04	0.16	0.27	(0.68)	1.09	(0.80)	3.88

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