Dreyfus Global Correlations

DQEIX Fund

USD 13.23 0.07 0.53%

The current 90-days correlation between Dreyfus Global Equity and Franklin Mutual Global is -0.23 (i.e., Very good diversification). The correlation of Dreyfus Global 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 Global Correlation With Market

Good diversification

The correlation between Dreyfus Global Equity and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Global Equity 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 Global Equity. 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

0.64	DOXWX	Dodge Cox Global	Pair Corr
0.72	DODWX	Dodge Global Stock	Pair Corr
0.83	TEDSX	Franklin Mutual Global	Pair Corr
0.71	VGTSX	Vanguard Total Inter	Pair Corr
0.78	VTIAX	Vanguard Total Inter	Pair Corr

Moving against Dreyfus Mutual Fund

0.41	FSRBX	Banking Portfolio Banking	Pair Corr
0.4	KMKNX	Kinetics Market Oppo Steady Growth	Pair Corr
0.37	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr

Related Correlations Analysis

	TEDRX	DODWX	TEDIX	TEDSX
TEDRX		0.76	1.0	0.76	TEDRX
DODWX	0.76		0.76	0.61	DODWX
TEDIX	1.0	0.76		0.76	TEDIX
TEDSX	0.76	0.61	0.76		TEDSX
	TEDRX	DODWX	TEDIX	TEDSX

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Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Global 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 Global'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
TEDRX	0.51	(0.09)	0.00	(0.02)	0.00	0.00	0.87	(1.08)	2.76
DODWX	0.52	(0.09)	0.00	(0.02)	0.00	0.00	1.08	(1.09)	3.17
TEDIX	0.51	(0.09)	0.00	(0.02)	0.00	0.00	0.88	(1.05)	2.77
TEDSX	0.50	0.00	(0.19)	0.11	0.66	(0.49)	0.88	(1.05)	2.76

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