Dreyfus Global Correlations

DRRIX Fund

USD 16.14 0.09 0.56%

The current 90-days correlation between Dreyfus Global Real and Adams Diversified Equity is 0.73 (i.e., Poor diversification). The correlation of Dreyfus Global 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 Global Correlation With Market

Poor diversification

The correlation between Dreyfus Global Real and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Global Real 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 Global Real. 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 gross domestic product.

Moving together with Dreyfus Mutual Fund

0.76	SSETX	Dreyfusthe Boston Pany	Pair Corr
0.76	SSYGX	Dreyfusthe Boston Pany	Pair Corr
0.79	SDSCX	Dreyfusthe Boston Pany	Pair Corr
0.69	DLHRX	Dreyfus High Yield	Pair Corr
0.79	DMIDX	Dreyfus Midcap Index	Pair Corr
0.74	DNLYX	Dreyfus Active Midcap	Pair Corr
1.0	DRRYX	Dreyfus Global Real	Pair Corr
0.69	DABMX	Dreyfus Yield Enhancement	Pair Corr

Related Correlations Analysis

	ADX	QDARX	MDBLX	TBDQX	LIGFX	JDJRX
ADX		-0.65	-0.33	0.78	0.7	-0.16	ADX
QDARX	-0.65		0.38	-0.37	-0.23	-0.02	QDARX
MDBLX	-0.33	0.38		-0.04	0.37	0.54	MDBLX
TBDQX	0.78	-0.37	-0.04		0.76	0.08	TBDQX
LIGFX	0.7	-0.23	0.37	0.76		0.18	LIGFX
JDJRX	-0.16	-0.02	0.54	0.08	0.18		JDJRX
	ADX	QDARX	MDBLX	TBDQX	LIGFX	JDJRX

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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

TBDQX	+ 0.78	ADX
LIGFX	+ 0.76	TBDQX
LIGFX	+ 0.7	ADX
JDJRX	+ 0.54	MDBLX
MDBLX	+ 0.38	QDARX
LIGFX	+ 0.37	MDBLX

High negative correlations

QDARX	- 0.65	ADX
TBDQX	- 0.37	QDARX
MDBLX	- 0.33	ADX
LIGFX	- 0.23	QDARX
JDJRX	- 0.16	ADX
TBDQX	- 0.04	MDBLX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Global 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 Global'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
ADX	0.62	0.03	0.02	0.06	0.77	(0.63)	1.20	(1.13)	4.89
QDARX	0.13	(0.05)	0.00	(0.61)	0.00	0.00	0.16	(0.33)	1.72
MDBLX	0.23	(0.05)	0.00	(1.26)	0.00	0.00	0.37	(0.61)	1.35
TBDQX	0.94	(0.10)	0.00	(0.10)	0.00	0.00	1.47	(2.39)	13.56
LIGFX	0.26	(0.03)	0.00	(0.07)	0.00	0.00	0.50	(0.49)	2.03
JDJRX	0.41	(0.02)	0.00	(0.06)	0.00	0.00	0.77	(0.88)	2.54

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