Dreyfus Worldwide Correlations

Mutual Funds . USA . 
Fund . Dreyfus Worldwide Growth
PGROX Fund  USD 66.10  0.08  0.12%   
The current 90-days correlation between Dreyfus Worldwide Growth and Dreyfus Technology Growth is -0.05 (i.e., Good diversification). The correlation of Dreyfus Worldwide 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 Worldwide Correlation With Market

Significant diversification

The correlation between Dreyfus Worldwide Growth and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Worldwide Growth and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Dreyfus Worldwide 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 persons.

Moving together with Dreyfus Mutual Fund

  0.65DHYAX Dreyfus High YieldPairCorr
  0.69DIBAX Dreyfus InternationalPairCorr
  0.66DIECX Dreyfus InternationalPairCorr
  0.67DIEAX Dreyfus InternationalPairCorr
  0.76DISSX Dreyfus Smallcap StockPairCorr
  0.64DISIX Dreyfus Smallcap StockPairCorr
  0.64DISCX International StockPairCorr
  0.67DISAX International StockPairCorr
  1.0PGRCX Dreyfus Worldwide GrowthPairCorr
  0.85THPBX Dreyfus Balanced OppPairCorr
  0.71DLDCX Dreyfus Natural ResourcesPairCorr
  0.92DLQAX Dreyfus Large CapPairCorr
  0.61DMBCX Dreyfus Municipal BondPairCorr
  0.72DMCVX Dreyfus OpportunisticPairCorr
  0.85DNLCX Dreyfus Active MidcapPairCorr
  0.83DNLAX Dreyfus Natural ResourcesPairCorr
  0.9RUDAX Dreyfusthe Boston PanyPairCorr
  0.66DPTAX Dreyfus Tax ManagedPairCorr
  0.61PNYCX Dreyfus New YorkPairCorr
  0.66DQICX Dreyfus Equity IncomePairCorr
  0.66DQIAX Dreyfus Equity IncomePairCorr

Related Correlations Analysis

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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   
DNLDX
+ 0.9
DTGRX
DPLTX
+ 0.81
DNLDX
DPLTX
+ 0.68
DTGRX
DREVX
+ 0.66
DNLDX
DREVX
+ 0.63
DTGRX
DREVX
+ 0.57
DPLTX
  
High negative correlations   
DPLTX
- 0.05
DAGVX

Risk-Adjusted Indicators

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