Dreyfus Smallcap Correlations

DISIX Fund

USD 30.66 0.55 1.83%

The current 90-days correlation between Dreyfus Smallcap Stock and Dreyfus Midcap Index is 0.97 (i.e., Almost no diversification). The correlation of Dreyfus Smallcap 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 Smallcap Correlation With Market

Average diversification

The correlation between Dreyfus Smallcap Stock and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Smallcap Stock 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 Smallcap Stock. 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 gross domestic product.

Moving together with Dreyfus Mutual Fund

1.0	DISSX	Dreyfus Smallcap Stock	Pair Corr
0.9	THPBX	Dreyfus Balanced Opp	Pair Corr
0.68	DLDCX	Dreyfus Natural Resources	Pair Corr
0.88	DLQAX	Dreyfus Large Cap	Pair Corr
0.78	DMCVX	Dreyfus Opportunistic	Pair Corr
0.77	DNLDX	Dreyfus Active Midcap	Pair Corr
0.93	DNLCX	Dreyfus Active Midcap	Pair Corr
0.69	DNLAX	Dreyfus Natural Resources	Pair Corr
0.96	RUDAX	Dreyfusthe Boston Pany	Pair Corr
0.79	DPTAX	Dreyfus Tax Managed	Pair Corr
0.68	AVGCX	Dynamic Total Return	Pair Corr
0.69	AVGAX	Dynamic Total Return	Pair Corr
0.82	DQICX	Dreyfus Equity Income	Pair Corr
0.82	DQIAX	Dreyfus Equity Income	Pair Corr
0.75	DREVX	Dreyfus Fund	Pair Corr
0.88	DREQX	Dreyfus Research Growth	Pair Corr

Moving against Dreyfus Mutual Fund

0.61	DIBAX	Dreyfus International	Pair Corr
0.6	DIECX	Dreyfus International	Pair Corr
0.59	DIEAX	Dreyfus International	Pair Corr
0.53	DHGCX	Dreyfusstandish Global	Pair Corr
0.53	DHGAX	Dreyfusstandish Global	Pair Corr
0.53	DISCX	International Stock	Pair Corr
0.52	DISAX	International Stock	Pair Corr
0.5	DIISX	Dreyfus International	Pair Corr
0.38	DITEX	Dreyfus Intermediate	Pair Corr
0.63	DRGMX	Dreyfus Gnma	Pair Corr
0.63	DBMIX	Dreyfus Bond Market	Pair Corr
0.62	DBIRX	Dreyfus Bond Market	Pair Corr
0.51	NIECX	Dreyfus/newton International	Pair Corr
0.5	NIEAX	Dreyfus/newton International	Pair Corr
0.36	DRLAX	Dreyfus Global Real	Pair Corr

Related Correlations Analysis

	PESPX	DIISX	PEOPX	DBMIX	DSPIX
PESPX		-0.52	0.96	-0.72	0.92	PESPX
DIISX	-0.52		-0.52	0.73	-0.55	DIISX
PEOPX	0.96	-0.52		-0.74	0.95	PEOPX
DBMIX	-0.72	0.73	-0.74		-0.72	DBMIX
DSPIX	0.92	-0.55	0.95	-0.72		DSPIX
	PESPX	DIISX	PEOPX	DBMIX	DSPIX

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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

PEOPX	+ 0.96	PESPX
DSPIX	+ 0.95	PEOPX
DSPIX	+ 0.92	PESPX
DBMIX	+ 0.73	DIISX

High negative correlations

DBMIX	- 0.74	PEOPX
DSPIX	- 0.72	DBMIX
DBMIX	- 0.72	PESPX
DSPIX	- 0.55	DIISX
PEOPX	- 0.52	DIISX
DIISX	- 0.52	PESPX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Smallcap 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 Smallcap'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
PESPX	0.72	0.13	0.03	1.03	0.62	(0.79)	1.72	(1.16)	5.18
DIISX	0.69	(0.08)	0.00	6.07	0.00	0.00	1.48	(1.67)	4.03
PEOPX	0.56	0.10	(0.02)	(7.41)	0.65	(0.60)	1.17	(1.31)	3.83
DBMIX	0.22	(0.04)	0.00	(0.56)	0.00	0.00	0.44	(0.56)	1.23
DSPIX	0.54	(0.01)	(0.04)	0.11	0.66	(0.58)	1.18	(1.32)	3.85

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