Dreyfus Floating Correlations

DFLAX Fund

USD 11.24 0.01 0.09%

The current 90-days correlation between Dreyfus Floating Rate and Energy Services Fund is -0.23 (i.e., Very good diversification). The correlation of Dreyfus Floating 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 Floating Correlation With Market

Very good diversification

The correlation between Dreyfus Floating Rate and DJI is -0.24 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Floating Rate 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 Floating Rate. 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

0.75	DISSX	Dreyfus Smallcap Stock	Pair Corr
0.76	DISIX	Dreyfus Smallcap Stock	Pair Corr
0.85	THPBX	Dreyfus Balanced Opp	Pair Corr
0.91	DLQAX	Dreyfus Large Cap	Pair Corr
0.86	DMCVX	Dreyfus Opportunistic	Pair Corr
0.88	DNLDX	Dreyfus Active Midcap	Pair Corr
0.88	DNLCX	Dreyfus Active Midcap	Pair Corr
0.83	RUDAX	Dreyfusthe Boston Pany	Pair Corr
0.66	DPLTX	Dreyfus High Yield	Pair Corr
0.64	AVGCX	Dynamic Total Return	Pair Corr
0.69	AVGAX	Dynamic Total Return	Pair Corr
0.88	DQICX	Dreyfus Equity Income	Pair Corr

Moving against Dreyfus Mutual Fund

0.9	DIBCX	Dreyfus International	Pair Corr
0.9	DIECX	Dreyfus International	Pair Corr
0.89	DIBAX	Dreyfus International	Pair Corr
0.89	DIEAX	Dreyfus International	Pair Corr
0.83	DISCX	International Stock	Pair Corr
0.82	DISAX	International Stock	Pair Corr
0.8	DIISX	Dreyfus International	Pair Corr
0.71	DHGCX	Dreyfusstandish Global	Pair Corr
0.67	DHGAX	Dreyfusstandish Global	Pair Corr
0.5	DITEX	Dreyfus Intermediate	Pair Corr
0.31	DMBCX	Dreyfus Municipal Bond	Pair Corr
0.38	BYSAX	Bny Mellon Short	Pair Corr
0.35	PNYCX	Dreyfus New York	Pair Corr
0.34	BYSIX	Bny Mellon Short	Pair Corr
0.32	DRCAX	Dreyfus California Amt	Pair Corr
0.31	DMUCX	Dreyfus Amt Free	Pair Corr

Related Correlations Analysis

	RYVIX	GAMPX	CGAEX	RSNYX	GMOWX	DLDCX	ALTEX
RYVIX		0.42	-0.03	0.27	0.44	0.73	0.21	RYVIX
GAMPX	0.42		-0.45	0.72	-0.27	0.65	-0.49	GAMPX
CGAEX	-0.03	-0.45		0.17	0.65	0.21	0.88	CGAEX
RSNYX	0.27	0.72	0.17		0.08	0.81	-0.04	RSNYX
GMOWX	0.44	-0.27	0.65	0.08		0.42	0.71	GMOWX
DLDCX	0.73	0.65	0.21	0.81	0.42		0.19	DLDCX
ALTEX	0.21	-0.49	0.88	-0.04	0.71	0.19		ALTEX
	RYVIX	GAMPX	CGAEX	RSNYX	GMOWX	DLDCX	ALTEX

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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

ALTEX	+ 0.88	CGAEX
DLDCX	+ 0.81	RSNYX
DLDCX	+ 0.73	RYVIX
RSNYX	+ 0.72	GAMPX
ALTEX	+ 0.71	GMOWX
DLDCX	+ 0.65	GAMPX

High negative correlations

ALTEX	- 0.49	GAMPX
CGAEX	- 0.45	GAMPX
GMOWX	- 0.27	GAMPX
ALTEX	- 0.04	RSNYX
CGAEX	- 0.03	RYVIX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Floating 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 Floating'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
RYVIX	1.42	(0.20)	0.00	(0.01)	0.00	0.00	2.63	(3.08)	10.74
GAMPX	0.73	0.28	0.21	(18.59)	0.35	(0.97)	1.83	(0.89)	4.89
CGAEX	0.75	(0.09)	0.00	(0.11)	0.00	0.00	1.46	(1.90)	4.70
RSNYX	1.03	0.18	0.09	0.42	1.23	(1.12)	2.35	(1.94)	6.63
GMOWX	1.05	(0.06)	0.00	2.77	0.00	0.00	1.80	(2.79)	5.49
DLDCX	0.91	(0.07)	(0.07)	0.04	1.30	(0.90)	1.58	(2.05)	4.99
ALTEX	1.32	(0.21)	0.00	(0.08)	0.00	0.00	2.10	(2.74)	7.75

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