Dreyfus Opportunistic Correlations

DOPIX Fund

USD 34.15 0.16 0.47%

The current 90-days correlation between Dreyfus Opportunistic and Vanguard Small Cap Index is 0.94 (i.e., Almost no diversification). The correlation of Dreyfus Opportunistic 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 Opportunistic Correlation With Market

Very poor diversification

The correlation between Dreyfus Opportunistic Small and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Opportunistic Small 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 Opportunistic Small. 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 gross domestic product.

Moving together with Dreyfus Mutual Fund

0.88	SSETX	Dreyfusthe Boston Pany Steady Growth	Pair Corr
0.88	SSYGX	Dreyfusthe Boston Pany	Pair Corr
0.95	STSVX	Dreyfusthe Boston Pany	Pair Corr
0.85	DLACX	Dreyfus Large Cap	Pair Corr
0.87	SDSCX	Dreyfusthe Boston Pany	Pair Corr
0.79	DLDYX	Dreyfus Natural Resources	Pair Corr
0.79	DLDRX	Dreyfus Natural Resources	Pair Corr
0.85	DLQIX	Dreyfus Large Cap	Pair Corr
0.91	DMCYX	Dreyfus Opportunistic	Pair Corr
0.93	DMIDX	Dreyfus Midcap Index	Pair Corr
0.9	DNLYX	Dreyfus Active Midcap	Pair Corr
0.9	DNLRX	Dreyfus Active Midcap	Pair Corr
0.63	DPRIX	Dreyfus Worldwide Growth	Pair Corr
0.86	DPTRX	Dreyfus Tax Managed	Pair Corr
0.62	DPWRX	Dreyfus Worldwide Growth	Pair Corr
0.78	AVGYX	Dynamic Total Return	Pair Corr
0.78	AVGRX	Dynamic Total Return	Pair Corr
0.84	DQIYX	Dreyfus Equity Income	Pair Corr

Moving against Dreyfus Mutual Fund

0.52	DIBRX	Dreyfus International	Pair Corr
0.52	DIBYX	Dreyfus International	Pair Corr
0.41	DIEYX	Dreyfus International	Pair Corr
0.41	DIERX	Dreyfus International	Pair Corr
0.33	DISRX	International Stock	Pair Corr
0.33	DISYX	International Stock	Pair Corr
0.32	SDGIX	Dreyfusstandish Global	Pair Corr
0.31	DINIX	Dreyfus International	Pair Corr
0.33	NIEYX	Dreyfus/newton International	Pair Corr
0.32	DSDYX	Dreyfusstandish Global	Pair Corr

Related Correlations Analysis

	VSMAX	PASVX	444859BR2	SCRYY	AQUI	APAAX	LBHIX	MSTSX	ID
VSMAX		0.99	-0.63	0.68	0.0	-0.13	0.67	0.6	0.86	VSMAX
PASVX	0.99		-0.58	0.65	0.0	-0.15	0.64	0.53	0.84	PASVX
444859BR2	-0.63	-0.58		-0.53	0.0	0.06	-0.54	-0.45	-0.53	444859BR2
SCRYY	0.68	0.65	-0.53		0.0	0.14	0.48	0.34	0.73	SCRYY
AQUI	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	AQUI
APAAX	-0.13	-0.15	0.06	0.14	0.0		0.49	0.25	-0.06	APAAX
LBHIX	0.67	0.64	-0.54	0.48	0.0	0.49		0.68	0.55	LBHIX
MSTSX	0.6	0.53	-0.45	0.34	0.0	0.25	0.68		0.42	MSTSX
ID	0.86	0.84	-0.53	0.73	0.0	-0.06	0.55	0.42		ID
	VSMAX	PASVX	444859BR2	SCRYY	AQUI	APAAX	LBHIX	MSTSX	ID

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

PASVX	+ 0.99	VSMAX
ID	+ 0.86	VSMAX
ID	+ 0.84	PASVX
ID	+ 0.73	SCRYY
SCRYY	+ 0.68	VSMAX
MSTSX	+ 0.68	LBHIX

High negative correlations

444859BR2	- 0.63	VSMAX
444859BR2	- 0.58	PASVX
LBHIX	- 0.54	444859BR2
ID	- 0.53	444859BR2
SCRYY	- 0.53	444859BR2
MSTSX	- 0.45	444859BR2

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Opportunistic 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 Opportunistic'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
VSMAX	0.75	0.03	0.06	0.14	0.68	(0.84)	1.62	(1.25)	5.36
PASVX	0.75	0.00	0.03	0.11	0.70	(0.81)	1.74	(1.22)	6.47
444859BR2	1.36	(0.08)	0.00	(0.21)	0.00	0.00	5.93	(5.79)	16.62
SCRYY	2.07	0.29	0.08	1.93	2.02	(2.85)	5.61	(4.09)	12.99
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
APAAX	0.14	0.02	(0.35)	(0.09)	0.15	(0.18)	0.31	(0.31)	1.13
LBHIX	0.12	0.01	(0.39)	0.51	0.00	(0.28)	0.24	(0.24)	0.96
MSTSX	0.49	(0.03)	(0.12)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
ID	3.91	0.70	0.13	1.00	4.02	(5.25)	7.89	(6.67)	20.54

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