Dreyfus Technology Correlations

DTGCX Fund

USD 31.37 0.34 1.10%

The current 90-days correlation between Dreyfus Technology Growth and Shelton Funds is 0.5 (i.e., Very weak 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

Average diversification

The correlation between Dreyfus Technology Growth and DJI is 0.17 (i.e., Average 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 main economic indicators.

Moving together with Dreyfus Mutual Fund

0.69	RXT	Rackspace Technology	Pair Corr
0.7	ZPTA	Zapata Computing Holdings Symbol Change	Pair Corr
0.72	KSPI	Joint Stock	Pair Corr

Moving against Dreyfus Mutual Fund

0.61	EXOD	Exodus Movement,	Pair Corr
0.61	CETXP	Cemtrex Pref	Pair Corr
0.59	VEEA	Veea Inc Symbol Change	Pair Corr
0.54	WGNR	Wegener	Pair Corr
0.5	VVPR	VivoPower International	Pair Corr
0.44	WEBB	Web Global Holdings	Pair Corr
0.36	VIDE	Video Display Earnings Call Today	Pair Corr
0.65	MARXR	Mars Acquisition Corp	Pair Corr
0.61	HPAIW	Helport AI Limited	Pair Corr
0.51	LTCH	Latch Inc	Pair Corr
0.48	VSTEW	Vast Renewables	Pair Corr
0.4	ZENA	ZenaTech	Pair Corr

Related Correlations Analysis

	NQQQX	RTOUX	LMUSX	PRNHX	SCYVX
NQQQX		0.51	0.32	0.42	0.47	NQQQX
RTOUX	0.51		0.9	0.95	0.99	RTOUX
LMUSX	0.32	0.9		0.93	0.91	LMUSX
PRNHX	0.42	0.95	0.93		0.95	PRNHX
SCYVX	0.47	0.99	0.91	0.95		SCYVX
	NQQQX	RTOUX	LMUSX	PRNHX	SCYVX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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
NQQQX	0.96	(0.05)	0.00	(0.13)	0.00	0.00	1.67	(2.40)	9.56
RTOUX	0.79	(0.02)	0.00	(0.02)	0.00	0.00	1.56	(1.46)	8.93
LMUSX	0.71	0.01	0.00	0.03	1.16	(0.67)	1.27	(1.50)	6.30
PRNHX	0.85	0.01	0.00	0.03	1.20	(0.85)	1.69	(1.60)	7.56
SCYVX	0.91	(0.02)	(0.02)	(0.01)	1.22	(0.97)	1.73	(1.91)	9.85

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