Dreyfus High Correlations

DLHRX Fund

USD 5.43 0.01 0.18%

The current 90-days correlation between Dreyfus High Yield and Dreyfus High Yield is 0.34 (i.e., Weak 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

Modest diversification

The correlation between Dreyfus High Yield and DJI is 0.24 (i.e., Modest 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 metropolitan statistical area.

Moving together with Dreyfus Mutual Fund

0.61	SSETX	Dreyfusthe Boston Pany	Pair Corr
0.62	DIMIX	Dreyfus Short Interm	Pair Corr
0.61	SSYGX	Dreyfusthe Boston Pany	Pair Corr
0.61	STSVX	Dreyfusthe Boston Pany	Pair Corr
0.64	DLACX	Dreyfus Large Cap	Pair Corr
0.63	SDSCX	Dreyfusthe Boston Pany	Pair Corr
0.64	DLQIX	Dreyfus Large Cap	Pair Corr
0.64	DMCYX	Dreyfus Opportunistic	Pair Corr
0.61	DMIDX	Dreyfus Midcap Index	Pair Corr
0.65	DMYBX	Dreyfus Short Interm	Pair Corr
0.69	DNLYX	Dreyfus Active Midcap	Pair Corr
0.68	DNLRX	Dreyfus Active Midcap	Pair Corr
0.67	AVGYX	Dynamic Total Return	Pair Corr
0.67	AVGRX	Dynamic Total Return	Pair Corr
0.64	DQIYX	Dreyfus Equity Income	Pair Corr

Moving against Dreyfus Mutual Fund

0.45	DIEYX	Dreyfus International	Pair Corr
0.45	DIERX	Dreyfus International	Pair Corr
0.42	DISRX	International Stock	Pair Corr
0.42	DISYX	International Stock	Pair Corr
0.34	DINIX	Dreyfus International	Pair Corr
0.33	DIBRX	Dreyfus International	Pair Corr
0.32	DIBYX	Dreyfus International	Pair Corr

Related Correlations Analysis

	DHYYX	SSETX	DIBRX	DIBYX	DIEYX	DIERX	DIMIX	DINIX	DISRX	DISYX
DHYYX		-0.12	0.39	0.39	0.26	0.26	0.94	0.34	0.28	0.28	DHYYX
SSETX	-0.12		-0.75	-0.75	-0.72	-0.72	-0.04	-0.62	-0.64	-0.63	SSETX
DIBRX	0.39	-0.75		1.0	0.91	0.91	0.33	0.86	0.84	0.84	DIBRX
DIBYX	0.39	-0.75	1.0		0.91	0.91	0.33	0.86	0.84	0.84	DIBYX
DIEYX	0.26	-0.72	0.91	0.91		1.0	0.18	0.97	0.96	0.96	DIEYX
DIERX	0.26	-0.72	0.91	0.91	1.0		0.18	0.97	0.96	0.96	DIERX
DIMIX	0.94	-0.04	0.33	0.33	0.18	0.18		0.25	0.18	0.17	DIMIX
DINIX	0.34	-0.62	0.86	0.86	0.97	0.97	0.25		0.99	0.99	DINIX
DISRX	0.28	-0.64	0.84	0.84	0.96	0.96	0.18	0.99		1.0	DISRX
DISYX	0.28	-0.63	0.84	0.84	0.96	0.96	0.17	0.99	1.0		DISYX
	DHYYX	SSETX	DIBRX	DIBYX	DIEYX	DIERX	DIMIX	DINIX	DISRX	DISYX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

DIBYX	+ 1.0	DIBRX
DIERX	+ 1.0	DIEYX
DISYX	+ 1.0	DISRX
DISRX	+ 0.99	DINIX
DISYX	+ 0.99	DINIX
DINIX	+ 0.97	DIEYX

High negative correlations

DIBYX	- 0.75	SSETX
DIBRX	- 0.75	SSETX
DIERX	- 0.72	SSETX
DIEYX	- 0.72	SSETX
DISRX	- 0.64	SSETX
DISYX	- 0.63	SSETX

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
DHYYX	0.21	0.02	(0.21)	(0.02)	0.35	(0.29)	0.46	(0.54)	2.18
SSETX	0.90	0.03	0.05	0.14	1.05	(0.90)	2.20	(1.68)	7.09
DIBRX	0.33	(0.08)	0.00	(0.86)	0.00	0.00	0.60	(0.67)	2.45
DIBYX	0.32	(0.08)	0.00	(1.01)	0.00	0.00	0.54	(0.67)	2.44
DIEYX	0.64	(0.15)	0.00	(0.27)	0.00	0.00	1.03	(1.42)	3.76
DIERX	0.64	(0.15)	0.00	(0.27)	0.00	0.00	1.02	(1.42)	3.76
DIMIX	0.05	0.00	(0.71)	0.11	0.00	(0.10)	0.16	(0.16)	0.47
DINIX	0.68	(0.15)	0.00	(0.21)	0.00	0.00	1.11	(1.70)	4.08
DISRX	0.75	(0.20)	0.00	(0.26)	0.00	0.00	1.29	(1.76)	4.80
DISYX	0.75	(0.20)	0.00	(0.26)	0.00	0.00	1.27	(1.75)	4.78

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC