Dreyfus High Correlations

DHYYX Fund

USD 11.07 0.01 0.09%

The current 90-days correlation between Dreyfus High Yield and Great West Real Estate is 0.16 (i.e., Average diversification). The correlation of Dreyfus High 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 High Correlation With Market

Very good diversification

The correlation between Dreyfus High Yield and DJI is -0.33 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus High Yield 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 High Yield. 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 manufacturing.

Moving together with Dreyfus Mutual Fund

0.83	DIMIX	Dreyfus Short Interm	Pair Corr
0.94	DMBIX	Dreyfus Amt Free	Pair Corr
0.86	DMBYX	Dreyfus Municipal Bond	Pair Corr
0.76	DMBVX	Dreyfus Municipal Bond	Pair Corr
0.94	DMUYX	Dreyfus Amt Free	Pair Corr
0.8	DMYBX	Dreyfus Short Interm	Pair Corr
0.94	DNJYX	Dreyfus New Jersey	Pair Corr
0.85	DNMIX	Dreyfus New Jersey	Pair Corr
0.85	DNYIX	Dreyfus New York	Pair Corr
0.85	DNYYX	Dreyfus New York	Pair Corr

Related Correlations Analysis

	MXREX	DAREX	PRKAX	MRESX	MSRDX	GURPX	SEIRX
MXREX		0.72	0.66	0.81	0.69	0.99	0.94	MXREX
DAREX	0.72		0.84	0.76	0.55	0.76	0.72	DAREX
PRKAX	0.66	0.84		0.87	0.75	0.7	0.74	PRKAX
MRESX	0.81	0.76	0.87		0.77	0.82	0.77	MRESX
MSRDX	0.69	0.55	0.75	0.77		0.66	0.69	MSRDX
GURPX	0.99	0.76	0.7	0.82	0.66		0.96	GURPX
SEIRX	0.94	0.72	0.74	0.77	0.69	0.96		SEIRX
	MXREX	DAREX	PRKAX	MRESX	MSRDX	GURPX	SEIRX

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Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus High 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 High'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
MXREX	0.66	0.03	(0.06)	0.21	0.73	(0.74)	1.34	(1.06)	3.82
DAREX	0.68	0.00	(0.06)	0.10	0.86	(0.70)	1.37	(1.56)	4.21
PRKAX	0.56	0.08	(0.03)	1.80	0.55	(0.66)	1.02	(1.24)	3.53
MRESX	0.67	0.04	(0.05)	0.54	0.77	(0.73)	1.32	(1.33)	3.83
MSRDX	0.41	0.04	(0.07)	1.09	0.42	(0.65)	1.11	(0.86)	3.75
GURPX	0.59	0.03	(0.07)	0.27	0.63	(0.69)	1.28	(1.10)	3.33
SEIRX	0.68	0.06	(0.02)	0.38	0.71	(0.79)	1.39	(1.27)	3.76

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Dreyfus High Correlations

Dreyfus High Correlation With Market

Very good diversification

Moving together with Dreyfus Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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