Dreyfus Yield Correlations

DABLX Fund

USD 11.25 0.01 0.09%

The current 90-days correlation between Dreyfus Yield Enhancement and Rmb Mendon Financial is 0.01 (i.e., Significant diversification). The correlation of Dreyfus Yield 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 Yield Correlation With Market

Average diversification

The correlation between Dreyfus Yield Enhancement 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 Yield Enhancement 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 Yield Enhancement. 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 bureau of economic analysis.

Moving together with Dreyfus Mutual Fund

0.73	DHYYX	Dreyfus High Yield	Pair Corr
0.75	SSETX	Dreyfusthe Boston Pany	Pair Corr
0.94	DIMIX	Dreyfus Short Interm	Pair Corr
0.75	SSYGX	Dreyfusthe Boston Pany	Pair Corr
0.9	SDGIX	Dreyfusstandish Global	Pair Corr
0.8	SDSCX	Dreyfusthe Boston Pany	Pair Corr
0.84	DLHRX	Dreyfus High Yield	Pair Corr
0.82	DMBIX	Dreyfus Amt Free	Pair Corr
0.8	DMBYX	Dreyfus Municipal Bond	Pair Corr
0.8	DMBVX	Dreyfus Municipal Bond	Pair Corr
0.82	DMUYX	Dreyfus Amt Free	Pair Corr
0.94	DMYBX	Dreyfus Short Interm	Pair Corr
0.84	DNJYX	Dreyfus New Jersey	Pair Corr
0.84	DNMIX	Dreyfus New Jersey	Pair Corr
0.8	DNYIX	Dreyfus New York	Pair Corr
0.81	AVGYX	Dynamic Total Return	Pair Corr
0.81	AVGRX	Dynamic Total Return	Pair Corr

Related Correlations Analysis

	RMBLX	DVFYX	GCFSX	FIDAX	BXSL	MSVIX	PSSRX
RMBLX		0.85	0.75	0.92	-0.2	0.78	0.91	RMBLX
DVFYX	0.85		0.86	0.78	0.1	0.64	0.82	DVFYX
GCFSX	0.75	0.86		0.65	0.23	0.46	0.69	GCFSX
FIDAX	0.92	0.78	0.65		-0.45	0.91	0.99	FIDAX
BXSL	-0.2	0.1	0.23	-0.45		-0.6	-0.4	BXSL
MSVIX	0.78	0.64	0.46	0.91	-0.6		0.91	MSVIX
PSSRX	0.91	0.82	0.69	0.99	-0.4	0.91		PSSRX
	RMBLX	DVFYX	GCFSX	FIDAX	BXSL	MSVIX	PSSRX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

PSSRX	+ 0.99	FIDAX
FIDAX	+ 0.92	RMBLX
PSSRX	+ 0.91	RMBLX
MSVIX	+ 0.91	FIDAX
PSSRX	+ 0.91	MSVIX
GCFSX	+ 0.86	DVFYX

High negative correlations

MSVIX	- 0.6	BXSL
BXSL	- 0.45	FIDAX
PSSRX	- 0.4	BXSL
BXSL	- 0.2	RMBLX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Yield 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 Yield'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
RMBLX	1.20	0.05	0.01	0.17	1.30	(1.41)	2.60	(2.07)	15.68
DVFYX	0.79	0.06	0.01	0.21	0.91	(0.87)	1.35	(1.39)	9.40
GCFSX	0.60	0.10	0.01	10.43	0.69	(0.69)	1.50	(1.23)	6.27
FIDAX	0.92	(0.02)	(0.04)	0.05	1.65	(0.93)	1.79	(2.01)	14.53
BXSL	0.72	0.07	0.01	0.34	0.75	(0.79)	1.43	(1.14)	4.08
MSVIX	0.86	(0.09)	0.00	(0.09)	0.00	0.00	1.64	(1.42)	15.14
PSSRX	0.90	(0.01)	(0.04)	0.07	1.35	(0.96)	1.51	(1.79)	11.81

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