Dreyfus Amt-free Correlations

DMUYX Fund

USD 13.33 0.01 0.08%

The current 90-days correlation between Dreyfus Amt Free and Vy T Rowe is 0.21 (i.e., Modest diversification). The correlation of Dreyfus Amt-free 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 Amt-free Correlation With Market

Average diversification

The correlation between Dreyfus Amt Free Municipal and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Amt Free Municipal 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 Amt Free Municipal. 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

0.98	DHYYX	Dreyfus High Yield	Pair Corr
0.78	DIMIX	Dreyfus Short Interm	Pair Corr
0.61	STSVX	Dreyfusthe Boston Pany	Pair Corr
0.79	SDGIX	Dreyfusstandish Global	Pair Corr
1.0	DMBIX	Dreyfus Amt Free	Pair Corr
0.93	DMBYX	Dreyfus Municipal Bond	Pair Corr
1.0	DMBVX	Dreyfus Municipal Bond	Pair Corr
0.62	DMIDX	Dreyfus Midcap Index	Pair Corr
0.7	DMYBX	Dreyfus Short Interm	Pair Corr
1.0	DNJYX	Dreyfus New Jersey	Pair Corr
0.72	DNLYX	Dreyfus Active Midcap	Pair Corr
0.77	DNLRX	Dreyfus Active Midcap	Pair Corr
1.0	DNMIX	Dreyfus New Jersey	Pair Corr
0.93	DNYIX	Dreyfus New York	Pair Corr
0.93	DNYYX	Dreyfus New York	Pair Corr
0.66	DOPIX	Dreyfus Opportunistic	Pair Corr
0.69	AVGYX	Dynamic Total Return	Pair Corr
0.69	AVGRX	Dynamic Total Return	Pair Corr

Related Correlations Analysis

	VYRIX	XACVX	TFCAX	ICVRX	FTCRX
VYRIX		0.94	0.58	0.74	0.68	VYRIX
XACVX	0.94		0.39	0.82	0.78	XACVX
TFCAX	0.58	0.39		0.19	0.11	TFCAX
ICVRX	0.74	0.82	0.19		0.99	ICVRX
FTCRX	0.68	0.78	0.11	0.99		FTCRX
	VYRIX	XACVX	TFCAX	ICVRX	FTCRX

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Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Amt-free 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 Amt-free'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
VYRIX	0.92	0.16	0.06	1.79	1.13	(0.97)	1.83	(1.64)	7.60
XACVX	0.70	0.07	(0.01)	2.79	1.01	(0.73)	1.43	(1.48)	5.43
TFCAX	0.02	0.00	0.00	(0.10)	0.00	0.00	0.10	0.00	0.40
ICVRX	0.29	0.00	(0.15)	0.09	0.38	(0.32)	0.66	(0.56)	2.21
FTCRX	0.30	(0.01)	(0.16)	0.04	0.42	(0.31)	0.64	(0.57)	2.42

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Dreyfus Amt-free Correlations

Dreyfus Amt-free Correlation With Market

Average diversification

Moving together with Dreyfus Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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