Dreyfus Institutional Correlations

DSPIX Fund

USD 50.21 0.08 0.16%

The current 90-days correlation between Dreyfus Institutional and Dreyfus Appreciation Fund is 0.96 (i.e., Almost no diversification). The correlation of Dreyfus Institutional 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 Institutional Correlation With Market

Very poor diversification

The correlation between Dreyfus Institutional Sp and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Institutional Sp 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 Institutional Sp. 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

0.98	THPBX	Dreyfus Balanced Opp	Pair Corr
0.77	DLDCX	Dreyfus Natural Resources	Pair Corr
0.97	DLQAX	Dreyfus Large Cap	Pair Corr
0.95	DMCVX	Dreyfus Opportunistic	Pair Corr
0.97	DNLDX	Dreyfus Active Midcap	Pair Corr
0.77	DNLAX	Dreyfus Natural Resources	Pair Corr
0.94	RUDAX	Dreyfusthe Boston Pany	Pair Corr
0.87	AVGCX	Dynamic Total Return	Pair Corr
0.87	AVGAX	Dynamic Total Return	Pair Corr
0.99	DQICX	Dreyfus Equity Income	Pair Corr
0.99	DQIAX	Dreyfus Equity Income	Pair Corr
0.96	DRTHX	The Dreyfus Sustainable	Pair Corr
0.69	DAGVX	Dreyfus Strategic Value	Pair Corr
0.95	DVLCX	Dreyfus Opportunistic	Pair Corr

Moving against Dreyfus Mutual Fund

0.52	BYSYX	Bny Mellon Short	Pair Corr
0.49	DIECX	Dreyfus International	Pair Corr
0.49	DIEAX	Dreyfus International	Pair Corr
0.53	DBIRX	Dreyfus Bond Market	Pair Corr
0.5	GPNCX	Dreyfus Gnma	Pair Corr
0.46	NIEAX	Dreyfus/newton International	Pair Corr
0.45	DCPIX	Bny Mellon Insight	Pair Corr
0.41	DEQCX	Dreyfus Global Equity	Pair Corr
0.41	DEQAX	Dreyfus Global Equity	Pair Corr
0.36	DSIBX	Dreyfus Short Interm	Pair Corr

Related Correlations Analysis

	DGAGX	PESPX	PEOPX	DISSX	DBIRX
DGAGX		0.81	0.95	0.33	-0.3	DGAGX
PESPX	0.81		0.93	0.4	-0.7	PESPX
PEOPX	0.95	0.93		0.4	-0.53	PEOPX
DISSX	0.33	0.4	0.4		-0.26	DISSX
DBIRX	-0.3	-0.7	-0.53	-0.26		DBIRX
	DGAGX	PESPX	PEOPX	DISSX	DBIRX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

PEOPX	+ 0.95	DGAGX
PEOPX	+ 0.93	PESPX
PESPX	+ 0.81	DGAGX
DISSX	+ 0.4	PESPX
DISSX	+ 0.4	PEOPX
DISSX	+ 0.33	DGAGX

High negative correlations

DBIRX	- 0.7	PESPX
DBIRX	- 0.53	PEOPX
DBIRX	- 0.3	DGAGX
DBIRX	- 0.26	DISSX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Institutional 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 Institutional'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
DGAGX	0.71	(0.05)	0.00	(0.06)	0.00	0.00	1.41	(1.44)	4.46
PESPX	0.84	(0.09)	0.00	(0.08)	0.00	0.00	1.51	(1.60)	4.03
PEOPX	0.80	(0.08)	0.00	(0.08)	0.00	0.00	1.58	(1.72)	4.54
DISSX	1.12	(0.38)	0.00	2.65	0.00	0.00	1.61	(2.43)	13.37
DBIRX	0.24	0.03	0.08	0.62	0.17	(0.28)	0.57	(0.34)	1.37

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