Dreyfus Technology Correlations

DGVRX Fund

USD 77.54 1.32 1.67%

The current 90-days correlation between Dreyfus Technology Growth and Real Estate Ultrasector is 0.25 (i.e., Modest diversification). The correlation of Dreyfus Technology 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 Technology Correlation With Market

Weak diversification

The correlation between Dreyfus Technology Growth and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Technology Growth 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 Technology 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 metropolitan statistical area.

Moving together with Dreyfus Mutual Fund

0.66	ACN	Accenture plc Sell-off Trend	Pair Corr
0.67	APP	Applovin Corp	Pair Corr
0.69	DSP	Viant Technology Earnings Call This Week	Pair Corr
0.77	GIB	CGI Inc	Pair Corr

Moving against Dreyfus Mutual Fund

0.6	DVLT	Datavault AI Symbol Change	Pair Corr
0.56	VEEA	Veea Inc Symbol Change	Pair Corr
0.54	VVPR	VivoPower International	Pair Corr
0.37	FAASW	DigiAsia Corp Symbol Change	Pair Corr
0.36	FOXX	Foxx Development Holdings Trending	Pair Corr
0.35	VISL	Vislink Technologies	Pair Corr
0.31	FMTO	Femto Technologies Symbol Change	Pair Corr
0.53	CXAIW	CXApp Inc	Pair Corr
0.37	OLB	OLB Group	Pair Corr

Related Correlations Analysis

	REPIX	TIREX	ZRPTUX	GREZX	NBRFX	NRSAX	CREMX
REPIX		1.0	0.85	0.99	1.0	0.06	-0.44	REPIX
TIREX	1.0		0.84	0.99	1.0	0.06	-0.43	TIREX
ZRPTUX	0.85	0.84		0.83	0.83	-0.16	-0.4	ZRPTUX
GREZX	0.99	0.99	0.83		0.99	0.09	-0.35	GREZX
NBRFX	1.0	1.0	0.83	0.99		0.09	-0.46	NBRFX
NRSAX	0.06	0.06	-0.16	0.09	0.09		0.02	NRSAX
CREMX	-0.44	-0.43	-0.4	-0.35	-0.46	0.02		CREMX
	REPIX	TIREX	ZRPTUX	GREZX	NBRFX	NRSAX	CREMX

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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

TIREX	+ 1.0	REPIX
NBRFX	+ 1.0	REPIX
NBRFX	+ 1.0	TIREX
GREZX	+ 0.99	REPIX
GREZX	+ 0.99	TIREX
NBRFX	+ 0.99	GREZX

High negative correlations

CREMX	- 0.46	NBRFX
CREMX	- 0.44	REPIX
CREMX	- 0.43	TIREX
CREMX	- 0.4	ZRPTUX
CREMX	- 0.35	GREZX
NRSAX	- 0.16	ZRPTUX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Technology 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 Technology'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
REPIX	1.20	(0.03)	0.00	(0.04)	0.00	0.00	2.36	(2.56)	7.82
TIREX	0.76	(0.02)	0.00	(0.05)	0.00	0.00	1.49	(1.52)	4.93
ZRPTUX	0.07	(0.01)	0.00	1.84	0.00	0.00	0.15	(0.45)	0.90
GREZX	0.67	(0.02)	0.00	(0.05)	0.00	0.00	1.32	(1.34)	4.51
NBRFX	0.78	(0.03)	0.00	(0.06)	0.00	0.00	1.44	(1.57)	5.19
NRSAX	0.19	0.00	0.04	0.07	0.19	(0.22)	0.32	(0.31)	1.57
CREMX	0.02	0.02	0.00	12.34	0.00	0.00	0.08	0.00	0.08

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