Global Stock Correlations

DGLCX Fund

USD 19.13 0.26 1.38%

The current 90-days correlation between Global Stock and Global Stock Fund is 0.08 (i.e., Significant diversification). The correlation of Global Stock 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.

Global Stock Correlation With Market

Significant diversification

The correlation between Global Stock Fund and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Stock Fund 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 Global Stock 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 main economic indicators.

Moving together with Global Mutual Fund

0.72	DHMBX	Dreyfus High Yield	Pair Corr
0.75	DHYCX	Dreyfus High Yield	Pair Corr
0.72	DHYAX	Dreyfus High Yield	Pair Corr
0.82	DIBCX	Dreyfus International	Pair Corr
0.81	DIBAX	Dreyfus International	Pair Corr
0.88	DISSX	Dreyfus Smallcap Stock	Pair Corr
0.88	DISIX	Dreyfus Smallcap Stock	Pair Corr
0.77	DISCX	International Stock	Pair Corr
0.82	DISAX	International Stock	Pair Corr
0.99	PGROX	Dreyfus Worldwide Growth	Pair Corr
0.97	PGRCX	Dreyfus Worldwide Growth	Pair Corr
0.9	THPBX	Dreyfus Balanced Opp	Pair Corr
0.81	DLDCX	Dreyfus Natural Resources	Pair Corr
0.94	DLQAX	Dreyfus Large Cap	Pair Corr
0.64	DMBCX	Dreyfus Municipal Bond	Pair Corr
0.91	DMCVX	Dreyfus Opportunistic	Pair Corr
0.65	DMUCX	Dreyfus Amt Free	Pair Corr
0.88	DNLDX	Dreyfus Active Midcap	Pair Corr
0.9	DNLCX	Dreyfus Active Midcap	Pair Corr
0.8	DNLAX	Dreyfus Natural Resources	Pair Corr
0.62	DNYAX	Dnyax	Pair Corr
0.91	RUDAX	Dreyfusthe Boston Pany	Pair Corr
0.88	DPTAX	Dreyfus Tax Managed	Pair Corr
0.86	DQICX	Dreyfus Equity Income	Pair Corr
0.85	DQIAX	Dreyfus Equity Income	Pair Corr

Moving against Global Mutual Fund

0.33

BYSIX

Bny Mellon Short

Pair Corr

Related Correlations Analysis

	DGLAX	DGLRX	HQISX	BTMFX
DGLAX		1.0	0.95	0.93	DGLAX
DGLRX	1.0		0.95	0.94	DGLRX
HQISX	0.95	0.95		0.88	HQISX
BTMFX	0.93	0.94	0.88		BTMFX
	DGLAX	DGLRX	HQISX	BTMFX

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Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global Stock 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 Global Stock'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
DGLAX	0.67	(0.12)	(0.24)	1.33	(1.25)	10.03
DGLRX	0.66	(0.12)	(0.24)	1.31	(1.26)	9.89
HQISX	0.64	(0.14)	(0.25)	1.01	(0.88)	9.86
BTMFX	0.61	(0.06)	(0.05)	1.15	(1.04)	5.89

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