Dreyfus Technology Correlations

DTEYX Fund

USD 72.64 2.06 2.76%

The current 90-days correlation between Dreyfus Technology Growth and Western Asset E is -0.05 (i.e., Good diversification). The correlation of Dreyfus Technology 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 Technology Correlation With Market

Good diversification

The correlation between Dreyfus Technology Growth and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Technology Growth 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 Technology Growth. 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

0.81	ZSPC	zSpace, Common stock	Pair Corr
0.84	INGM	Ingram Micro Holding	Pair Corr
0.81	MIND	Mind Technology	Pair Corr
0.82	HPE-PC	Hewlett Packard Ente	Pair Corr
0.64	SLNHP	Soluna Holdings Preferred	Pair Corr
0.8	PENG	Penguin Solutions, Symbol Change	Pair Corr

Moving against Dreyfus Mutual Fund

0.64	INFN	Infinera	Pair Corr
0.47	EMKR	EMCORE	Pair Corr
0.57	MTTR	Matterport	Pair Corr
0.51	NTCL	NETCLASS TECHNOLOGY INC	Pair Corr
0.47	AMBR	Amber Road, Symbol Change	Pair Corr
0.45	DIEYX	Dreyfus International	Pair Corr
0.38	HPAIW	Helport AI Limited	Pair Corr
0.37	DIBRX	Dreyfus International	Pair Corr
0.34	DIERX	Dreyfus International	Pair Corr
0.32	MASK	3 E Network	Pair Corr

Related Correlations Analysis

	WACIX	CSBCX	OWFIX	ARTFX	SGYAX	ANBIX
WACIX		0.8	0.98	0.54	0.73	0.78	WACIX
CSBCX	0.8		0.73	0.78	0.73	0.96	CSBCX
OWFIX	0.98	0.73		0.4	0.63	0.71	OWFIX
ARTFX	0.54	0.78	0.4		0.78	0.83	ARTFX
SGYAX	0.73	0.73	0.63	0.78		0.71	SGYAX
ANBIX	0.78	0.96	0.71	0.83	0.71		ANBIX
	WACIX	CSBCX	OWFIX	ARTFX	SGYAX	ANBIX

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Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Technology 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 Technology'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
WACIX	0.25	0.03	0.13	(0.39)	0.15	(0.31)	0.55	(0.33)	1.56
CSBCX	0.22	0.02	0.08	0.56	0.18	(0.25)	0.49	(0.41)	1.42
OWFIX	0.17	0.03	0.12	(0.72)	0.00	(0.22)	0.40	(0.30)	1.01
ARTFX	0.13	0.01	0.04	(0.18)	0.06	(0.19)	0.44	(0.22)	0.89
SGYAX	0.17	0.03	0.11	0.24	0.00	(0.26)	0.56	(0.28)	1.57
ANBIX	0.16	0.03	0.14	(0.70)	0.00	(0.21)	0.38	(0.38)	0.98

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