Dreyfus Municipal Correlations
| DMBCX Fund | USD 12.25 0.01 0.08% |
The current 90-days correlation between Dreyfus Municipal Bond and Vanguard Long Term Tax Exempt is 0.97 (i.e., Almost no diversification). The correlation of Dreyfus Municipal 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 Municipal Correlation With Market
Average diversification
The correlation between Dreyfus Municipal Bond and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Municipal Bond and DJI in the same portfolio, assuming nothing else is changed.
Dreyfus |
Moving together with Dreyfus Mutual Fund
| 0.76 | DHGCX | Dreyfusstandish Global | PairCorr |
| 0.78 | DHGAX | Dreyfusstandish Global | PairCorr |
| 0.86 | DHMBX | Dreyfus High Yield | PairCorr |
| 0.95 | DHYCX | Dreyfus High Yield | PairCorr |
| 0.94 | DHYAX | Dreyfus High Yield | PairCorr |
| 0.87 | DZNJX | Dreyfus New Jersey | PairCorr |
| 0.97 | DITEX | Dreyfus Intermediate | PairCorr |
| 0.9 | DMBAX | Dreyfus Short Interm | PairCorr |
| 0.89 | DMBZX | Dreyfus Municipal Bond | PairCorr |
| 1.0 | DMUCX | Dreyfus Amt Free | PairCorr |
| 0.89 | DMUAX | Dreyfus Amt Free | PairCorr |
| 0.88 | DNYAX | Dnyax | PairCorr |
| 0.72 | BYSAX | Bny Mellon Short | PairCorr |
| 0.89 | PNYCX | Dreyfus New York | PairCorr |
Moving against Dreyfus Mutual Fund
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Municipal 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 Municipal'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| VWLTX | 0.16 | (0.01) | (0.25) | (0.08) | 0.26 | 0.37 | 1.56 | |||
| VWAHX | 0.16 | (0.01) | (0.22) | 0.00 | 0.26 | 0.37 | 1.68 | |||
| VWALX | 0.15 | 0.00 | (0.22) | 0.00 | 0.25 | 0.37 | 1.68 | |||
| FSMUX | 0.15 | 0.00 | (0.23) | (0.06) | 0.23 | 0.34 | 1.46 | |||
| VWLUX | 0.16 | (0.01) | (0.25) | (0.06) | 0.26 | 0.37 | 1.65 | |||
| FAFTX | 0.15 | 0.00 | (0.26) | 0.04 | 0.24 | 0.37 | 1.56 | |||
| FFTQX | 0.15 | 0.00 | (0.25) | 0.03 | 0.22 | 0.37 | 1.75 | |||
| FKTIX | 0.15 | 0.00 | (0.25) | 0.03 | 0.22 | 0.37 | 1.66 | |||
| FFQAX | 0.14 | 0.00 | (0.24) | 0.03 | 0.22 | 0.37 | 1.57 |