Dreyfus Active Correlations

Mutual Funds . USA . 
Fund . Dreyfus Active Midcap
DNLDX Fund  USD 67.76  0.77  1.15%   
The current 90-days correlation between Dreyfus Active Midcap and Dreyfus Smallcap Stock is 0.93 (i.e., Almost no diversification). The correlation of Dreyfus Active 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 Active Correlation With Market

Average diversification

The correlation between Dreyfus Active Midcap and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Active Midcap 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 Active Midcap. 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 unemployment.

Moving together with Dreyfus Mutual Fund

  0.93DISSX Dreyfus Smallcap StockPairCorr
  0.93DISIX Dreyfus Smallcap StockPairCorr
  0.98THPBX Dreyfus Balanced OppPairCorr
  0.75DLDCX Dreyfus Natural ResourcesPairCorr
  0.98DLQAX Dreyfus Large CapPairCorr
  0.98DMCVX Dreyfus OpportunisticPairCorr
  1.0DNLCX Dreyfus Active MidcapPairCorr
  0.76DNLAX Dreyfus Natural ResourcesPairCorr
  0.97RUDAX Dreyfusthe Boston PanyPairCorr
  0.76DPTAX Dreyfus Tax ManagedPairCorr
  0.71AVGCX Dynamic Total ReturnPairCorr
  0.63AVGAX Dynamic Total ReturnPairCorr
  0.95DQICX Dreyfus Equity IncomePairCorr

Moving against Dreyfus Mutual Fund

  0.76DIBCX Dreyfus InternationalPairCorr
  0.75DIBAX Dreyfus InternationalPairCorr
  0.68DIECX Dreyfus InternationalPairCorr
  0.67DIEAX Dreyfus InternationalPairCorr
  0.59DHGCX Dreyfusstandish GlobalPairCorr
  0.58DISCX International StockPairCorr
  0.57DHGAX Dreyfusstandish GlobalPairCorr
  0.57DISAX International StockPairCorr
  0.54DIISX Dreyfus InternationalPairCorr
  0.35DITEX Dreyfus IntermediatePairCorr

Related Correlations Analysis

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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   
DSPIX
+ 0.95
PEOPX
PEOPX
+ 0.88
DISSX
DSPIX
+ 0.84
DISSX
REREX
+ 0.74
DIISX
  
High negative correlations   
DSPIX
- 0.55
DIISX
DIISX
- 0.52
PEOPX
DIISX
- 0.5
DISSX
REREX
- 0.19
DISSX
REREX
- 0.06
PEOPX
REREX
- 0.02
DSPIX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Active 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 Active'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.

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