Dreyfus New Correlations

PNYCX Fund

USD 13.51 0.02 0.15%

The current 90-days correlation between Dreyfus New York and Goldman Sachs Short is 0.07 (i.e., Significant diversification). The correlation of Dreyfus New 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 New Correlation With Market

Significant diversification

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

0.86	FKNRX	Franklin New York	Pair Corr
0.86	FNYZX	Franklin New York	Pair Corr
0.88	FKNQX	Franklin New York	Pair Corr
0.9	FKNCX	Franklin New York	Pair Corr
0.9	ALNVX	Ab New York	Pair Corr
0.91	ALNYX	Ab New York	Pair Corr
0.92	ANYCX	Ab New York	Pair Corr
0.9	OWNYX	Old Westbury New	Pair Corr
0.82	MGGYX	Mirova Global Green	Pair Corr
0.83	MGGAX	Mirova Global Green	Pair Corr
0.61	IBM	International Business	Pair Corr
0.66	CSCO	Cisco Systems	Pair Corr

Moving against Dreyfus Mutual Fund

0.56

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	GANPX	WACIX	FMUUX	TAADX	PRVBX	SCCIX
GANPX		0.73	0.98	0.74	0.94	0.69	GANPX
WACIX	0.73		0.7	0.99	0.74	0.99	WACIX
FMUUX	0.98	0.7		0.7	0.94	0.65	FMUUX
TAADX	0.74	0.99	0.7		0.76	0.99	TAADX
PRVBX	0.94	0.74	0.94	0.76		0.73	PRVBX
SCCIX	0.69	0.99	0.65	0.99	0.73		SCCIX
	GANPX	WACIX	FMUUX	TAADX	PRVBX	SCCIX

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Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus New 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 New'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
GANPX	0.06	0.00	0.42	0.03	0.00	(0.12)	0.10	(0.10)	0.48
WACIX	0.24	0.05	0.39	0.75	0.06	(0.31)	0.55	(0.33)	1.56
FMUUX	0.03	0.00	0.00	(0.26)	0.00	0.00	0.10	0.00	0.40
TAADX	0.21	0.04	0.37	0.58	0.00	(0.28)	0.50	(0.38)	1.27
PRVBX	0.10	0.01	0.68	0.24	0.00	(0.13)	0.23	(0.17)	0.53
SCCIX	0.24	0.04	0.37	0.52	0.10	(0.32)	0.57	(0.38)	1.44

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