Dreyfus Select Correlations

DSGYXDelisted Fund  USD 23.27  0.00  0.00%   
The current 90-days correlation between Dreyfus Select Managers and Multisector Bond Sma is 0.07 (i.e., Significant diversification). The correlation of Dreyfus Select 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 Select Correlation With Market

Good diversification

The correlation between Dreyfus Select Managers and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Select Managers and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios. 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

  0.77VSGAX Vanguard Small CapPairCorr
  0.77VSGIX Vanguard Small CapPairCorr
  0.77VISGX Vanguard Small CapPairCorr
  0.74VEXPX Vanguard ExplorerPairCorr
  0.74VEXRX Vanguard ExplorerPairCorr
  0.67JGMIX Janus TritonPairCorr
  0.67JGMRX Janus TritonPairCorr
  0.67JGMAX Janus TritonPairCorr
  0.67JGMCX Janus TritonPairCorr
  0.68JGMNX Janus TritonPairCorr
  0.73GCAVX Gmo Small CapPairCorr
  0.76GHVIX Gmo High YieldPairCorr
  0.61GMCQX Gmo Equity AllocationPairCorr
  0.67PREIX T Rowe PricePairCorr
  0.85DIS Walt DisneyPairCorr
  0.66JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.61CSCO Cisco Systems Aggressive PushPairCorr
  0.78WMT Walmart Aggressive PushPairCorr
  0.71CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.79T ATT Inc Aggressive PushPairCorr

Moving against Dreyfus Mutual Fund

  0.79GAAVX Gmo Alternative AlloPairCorr
  0.43GABFX Gmo Asset AllocationPairCorr
  0.74JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.66KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr
  0.52BA Boeing Fiscal Year End 29th of January 2025 PairCorr

Related Correlations Analysis

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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   
PCMNXMDMTX
MDMTXOWMBX
PCMNXOWMBX
PRFHXPCMNX
PCMNXAFB
AFBOWMBX
  
High negative correlations   
ARTFXMDMTX
ARTFXOWMBX
ARTFXPCMNX
ARTFXAFB
PRFHXICAXX
ARTFXICAXX

Risk-Adjusted Indicators

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

Dreyfus Select Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Dreyfus Select mutual fund to make a market-neutral strategy. Peer analysis of Dreyfus Select could also be used in its relative valuation, which is a method of valuing Dreyfus Select by comparing valuation metrics with similar companies.
 Risk & Return  Correlation

Still Interested in Dreyfus Select Managers?

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