Dreyfus Research Correlations

DWOIX Fund

USD 20.93 0.02 0.1%

The current 90-days correlation between Dreyfus Research Growth and Goldman Sachs Clean is -0.03 (i.e., Good diversification). The correlation of Dreyfus Research 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 Research Correlation With Market

Average diversification

The correlation between Dreyfus Research Growth and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Research 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 Research 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 gross domestic product.

Moving together with Dreyfus Mutual Fund

0.94	SSETX	Dreyfusthe Boston Pany	Pair Corr
0.9	SSYGX	Dreyfusthe Boston Pany	Pair Corr
0.91	SDSCX	Dreyfusthe Boston Pany	Pair Corr
0.7	DNLYX	Dreyfus Active Midcap	Pair Corr
0.71	DNLRX	Dreyfus Active Midcap	Pair Corr
0.65	DOPIX	Dreyfus Opportunistic	Pair Corr

Moving against Dreyfus Mutual Fund

0.69	DIEYX	Dreyfus International	Pair Corr
0.69	DIERX	Dreyfus International	Pair Corr
0.68	DINIX	Dreyfus International	Pair Corr
0.66	DISRX	International Stock	Pair Corr
0.66	DISYX	International Stock	Pair Corr
0.63	DIBRX	Dreyfus International	Pair Corr
0.61	DIBYX	Dreyfus International	Pair Corr
0.46	DRLIX	Dreyfus Global Real	Pair Corr
0.46	DRLYX	Dreyfus Global Real	Pair Corr

Related Correlations Analysis

	GCEBX	FRGOX	EPGFX	INIVX	SPPIX	SGDLX	AGGWX	FGDIX
GCEBX		0.72	0.7	0.64	-0.8	0.63	0.72	0.73	GCEBX
FRGOX	0.72		0.95	0.95	-0.94	0.92	0.93	0.97	FRGOX
EPGFX	0.7	0.95		0.92	-0.97	0.93	0.95	0.99	EPGFX
INIVX	0.64	0.95	0.92		-0.89	0.97	0.97	0.92	INIVX
SPPIX	-0.8	-0.94	-0.97	-0.89		-0.9	-0.93	-0.99	SPPIX
SGDLX	0.63	0.92	0.93	0.97	-0.9		0.99	0.93	SGDLX
AGGWX	0.72	0.93	0.95	0.97	-0.93	0.99		0.94	AGGWX
FGDIX	0.73	0.97	0.99	0.92	-0.99	0.93	0.94		FGDIX
	GCEBX	FRGOX	EPGFX	INIVX	SPPIX	SGDLX	AGGWX	FGDIX

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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

FGDIX	+ 0.99	EPGFX
AGGWX	+ 0.99	SGDLX
FGDIX	+ 0.97	FRGOX
SGDLX	+ 0.97	INIVX
AGGWX	+ 0.97	INIVX
EPGFX	+ 0.95	FRGOX

High negative correlations

FGDIX	- 0.99	SPPIX
SPPIX	- 0.97	EPGFX
SPPIX	- 0.94	FRGOX
AGGWX	- 0.93	SPPIX
SGDLX	- 0.9	SPPIX
SPPIX	- 0.89	INIVX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Research 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 Research'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
GCEBX	0.73	(0.32)	0.00	(1.74)	0.00	0.00	1.36	(1.79)	7.66
FRGOX	1.52	(0.42)	0.00	(2.70)	0.00	0.00	2.43	(3.63)	15.97
EPGFX	1.42	(0.21)	0.00	(0.83)	0.00	0.00	2.15	(3.15)	10.21
INIVX	1.45	(0.24)	0.00	3.50	0.00	0.00	2.66	(3.01)	14.69
SPPIX	1.44	0.27	0.11	(0.88)	1.51	(1.56)	3.24	(2.81)	10.50
SGDLX	1.31	(0.14)	0.00	(1.51)	0.00	0.00	2.63	(2.69)	8.32
AGGWX	1.44	(0.20)	0.00	(1.72)	0.00	0.00	2.85	(3.05)	8.96
FGDIX	1.32	(0.26)	0.00	(0.85)	0.00	0.00	2.61	(2.93)	9.33

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