Dreyfus Gnma Correlations

Mutual Funds USA . 
Fund . Dreyfus Gnma Fund
GPGAX Fund  USD 12.86  0.02  0.16%   
The current 90-days correlation between Dreyfus Gnma and Western Asset High is 0.08 (i.e., Significant diversification). The correlation of Dreyfus Gnma 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 Gnma Correlation With Market

Average diversification

The correlation between Dreyfus Gnma Fund and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Gnma Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Dreyfus Gnma Fund. 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 nation.

Moving together with Dreyfus Mutual Fund

  0.76DHGCX Dreyfusstandish GlobalPairCorr
  0.77DHGAX Dreyfusstandish GlobalPairCorr
  0.64DHMBX Dreyfus High YieldPairCorr
  0.61DHYCX Dreyfus High YieldPairCorr
  0.68DHYAX Dreyfus High YieldPairCorr
  0.92DIBCX Dreyfus InternationalPairCorr
  0.86DIBAX Dreyfus InternationalPairCorr
  0.84DIECX Dreyfus InternationalPairCorr
  0.84DIEAX Dreyfus InternationalPairCorr
  0.9DIISX Dreyfus InternationalPairCorr
  0.76DITEX Dreyfus IntermediatePairCorr
  0.69DMBAX Dreyfus Short IntermPairCorr
  0.68DMBZX Dreyfus Municipal BondPairCorr
  0.71DPLTX Dreyfus High YieldPairCorr
  0.87BYSYX Bny Mellon ShortPairCorr
  0.88BYSIX Bny Mellon ShortPairCorr
  0.88BYSAX Bny Mellon ShortPairCorr

Moving against Dreyfus Mutual Fund

  0.65DISIX Dreyfus Smallcap StockPairCorr
  0.63DLDCX Dreyfus Natural ResourcesPairCorr
  0.61DLQAX Dreyfus Large CapPairCorr
  0.31THPBX Dreyfus Balanced OppPairCorr
  0.67DREVX Dreyfus FundPairCorr
  0.55DMCVX Dreyfus OpportunisticPairCorr
  0.54DNLAX Dreyfus Natural ResourcesPairCorr
  0.54RUDAX Dreyfusthe Boston PanyPairCorr
  0.53AVGCX Dynamic Total ReturnPairCorr
  0.5AVGAX Dynamic Total ReturnPairCorr
  0.46DNLCX Dreyfus Active MidcapPairCorr
  0.45DNLDX Dreyfus Active MidcapPairCorr
  0.42DQICX Dreyfus Equity IncomePairCorr
  0.41DQIAX Dreyfus Equity IncomePairCorr
  0.36DPTAX Dreyfus Tax ManagedPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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

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