Dreyfus Opportunistic Correlations

DSCYX Fund  USD 30.89  0.47  1.50%   
The current 90-days correlation between Dreyfus Opportunistic and Dreyfus Opportunistic Small is 1.0 (i.e., No risk reduction). The correlation of Dreyfus Opportunistic 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 Opportunistic Correlation With Market

DreyfusDowDiversified AwayDreyfusDowDiversified Away100%

Average diversification

The correlation between Dreyfus Opportunistic Small 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 Opportunistic Small 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 Opportunistic Small. 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

  0.77DHYYX Dreyfus High YieldPairCorr
  0.65DIMIX Dreyfus Short IntermPairCorr
  0.9STSVX Dreyfusthe Boston PanyPairCorr
  0.8DLACX Dreyfus Large CapPairCorr
  0.69DLDYX Dreyfus Natural ResourcesPairCorr
  0.8DLQIX Dreyfus Large CapPairCorr
  0.65DMBIX Dreyfus Amt FreePairCorr
  0.68DMBVX Dreyfus Municipal BondPairCorr
  0.84DMCYX Dreyfus OpportunisticPairCorr
  0.8DMIDX Dreyfus Midcap IndexPairCorr
  0.66DMUYX Dreyfus Amt FreePairCorr
  0.64DNJYX Dreyfus New JerseyPairCorr
  0.95DNLYX Dreyfus Active MidcapPairCorr
  0.95DNLRX Dreyfus Active MidcapPairCorr
  0.64DNMIX Dreyfus New JerseyPairCorr
  0.69DNYIX Dreyfus New YorkPairCorr
  0.69DNYYX Dreyfus New YorkPairCorr
  1.0DOPIX Dreyfus OpportunisticPairCorr
  0.76DPRIX Dreyfus Worldwide GrowthPairCorr
  0.76DPWRX Dreyfus Worldwide GrowthPairCorr
  0.66DQEIX Dreyfus Global EquityPairCorr
  0.78DQIRX Dreyfus Equity IncomePairCorr
  0.72DRGYX Dreyfus Strategic ValuePairCorr
  0.72DRGVX Dreyfus Strategic ValuePairCorr
  0.65DRLIX Dreyfus Global RealPairCorr
  0.67DRLYX Dreyfus Global RealPairCorr
  0.71DRRYX Dreyfus Global RealPairCorr
  0.68DRRIX Dreyfus Global RealPairCorr
  0.65DABMX Dreyfus Yield EnhancementPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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