Dreyfus Large Correlations

Mutual Funds . USA . 
Fund . Dreyfus Large Cap
DLQAX Fund  USD 11.76  0.01  0.09%   
The current 90-days correlation between Dreyfus Large Cap and Dreyfus International Equity is -0.01 (i.e., Good diversification). The correlation of Dreyfus Large 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 Large Correlation With Market

Very poor diversification

The correlation between Dreyfus Large Cap and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Large Cap 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 Large Cap. 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 nation.

Moving together with Dreyfus Mutual Fund

  0.64DZNJX Dreyfus New JerseyPairCorr
  0.81DIECX Dreyfus InternationalPairCorr
  0.81DIEAX Dreyfus InternationalPairCorr
  0.79DIISX Dreyfus InternationalPairCorr
  0.76DISSX Dreyfus Smallcap StockPairCorr
  0.76DISIX Dreyfus Smallcap StockPairCorr
  0.93DISCX International StockPairCorr
  0.93DISAX International StockPairCorr
  0.68DITEX Dreyfus IntermediatePairCorr
  0.94PGROX Dreyfus Worldwide GrowthPairCorr
  0.94PGRCX Dreyfus Worldwide GrowthPairCorr
  0.97THPBX Dreyfus Balanced OppPairCorr
  0.74DLDCX Dreyfus Natural ResourcesPairCorr
  0.75DMBAX Dreyfus Short IntermPairCorr
  0.89DMCVX Dreyfus OpportunisticPairCorr
  0.97DNLDX Dreyfus Active MidcapPairCorr
  0.97DNLCX Dreyfus Active MidcapPairCorr
  0.74DNLAX Dreyfus Natural ResourcesPairCorr
  0.99RUDAX Dreyfusthe Boston PanyPairCorr
  0.81DPLTX Dreyfus High YieldPairCorr
  0.76BYSYX Bny Mellon ShortPairCorr
  0.76BYSIX Bny Mellon ShortPairCorr
  0.75BYSAX Bny Mellon ShortPairCorr
  0.8DQICX Dreyfus Equity IncomePairCorr
  0.8DQIAX Dreyfus Equity IncomePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Large 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 Large'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DHGCX  0.09  0.00 (0.38) 0.00  0.08 
(0.10)
 0.21 
(0.21)
 0.62 
DHGAX  0.10  0.00 (0.40) 0.04  0.05 
(0.11)
 0.20 
(0.20)
 0.60 
DHMBX  0.10  0.01 (0.22) 0.62  0.00 
(0.15)
 0.28 
(0.10)
 0.95 
DHYCX  0.10  0.01 (0.21) 0.35  0.00 
(0.17)
 0.28 
(0.19)
 0.94 
DHYAX  0.10  0.01 (0.20) 0.34  0.00 
(0.16)
 0.28 
(0.19)
 0.94 
DZNJX  0.08  0.01 (0.24)(3.65) 0.00 
(0.14)
 0.25 
(0.09)
 0.68 
DIBCX  0.25  0.02 (0.11) 0.30  0.18 
(0.32)
 0.59 
(0.42)
 1.92 
DIBAX  0.24  0.03 (0.10) 0.43  0.18 
(0.29)
 0.55 
(0.40)
 1.95 
DIECX  0.71  0.22  0.24  0.48  0.41 
(0.82)
 1.49 
(1.19)
 7.45 
DIEAX  0.71  0.23  0.25  0.49  0.43 
(0.83)
 1.48 
(1.19)
 7.76 

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