Dreyfus Gnma Correlations

Mutual Funds . USA . 
Fund . Dreyfus Gnma Fund
DRGMX Fund  USD 12.81  0.10  0.79%   
The current 90-days correlation between Dreyfus Gnma and Dreyfusstandish Global Fixed is 0.85 (i.e., Very poor diversification). The correlation of Dreyfus Gnma 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 Gnma Correlation With Market

Modest diversification

The correlation between Dreyfus Gnma Fund and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Gnma Fund 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 Gnma Fund. 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 population.

Moving together with Dreyfus Mutual Fund

  0.97DHGCX Dreyfusstandish GlobalPairCorr
  0.94DHGAX Dreyfusstandish GlobalPairCorr
  0.68DZNJX Dreyfus New JerseyPairCorr
  0.96DIBCX Dreyfus InternationalPairCorr
  0.96DIBAX Dreyfus InternationalPairCorr
  0.83DIECX Dreyfus InternationalPairCorr
  0.82DIEAX Dreyfus InternationalPairCorr
  0.69DIISX Dreyfus InternationalPairCorr
  0.71DISCX International StockPairCorr
  0.71DISAX International StockPairCorr
  0.81DITEX Dreyfus IntermediatePairCorr
  0.69DMBCX Dreyfus Municipal BondPairCorr
  0.63DMBZX Dreyfus Municipal BondPairCorr
  0.7DMUCX Dreyfus Amt FreePairCorr
  0.62DMUAX Dreyfus Amt FreePairCorr
  0.64DNYAX DnyaxPairCorr
  0.66BYSIX Bny Mellon ShortPairCorr
  0.74BYSAX Bny Mellon ShortPairCorr
  0.72PNYCX Dreyfus New YorkPairCorr

Moving against Dreyfus Mutual Fund

  0.79DLQAX Dreyfus Large CapPairCorr
  0.65THPBX Dreyfus Balanced OppPairCorr
  0.63DISIX Dreyfus Smallcap StockPairCorr
  0.54DISSX Dreyfus Smallcap StockPairCorr
  0.48DLDCX Dreyfus Natural ResourcesPairCorr
  0.77DREVX Dreyfus FundPairCorr
  0.76DQIAX Dreyfus Equity IncomePairCorr
  0.75DQICX Dreyfus Equity IncomePairCorr
  0.73DREQX Dreyfus Research GrowthPairCorr
  0.72DMCVX Dreyfus OpportunisticPairCorr
  0.71DNLDX Dreyfus Active MidcapPairCorr
  0.71RUDAX Dreyfusthe Boston PanyPairCorr
  0.7DNLCX Dreyfus Active MidcapPairCorr
  0.46DNLAX Dreyfus Natural ResourcesPairCorr
  0.37AVGAX Dynamic Total ReturnPairCorr
  0.32DPTAX Dreyfus Tax ManagedPairCorr
  0.31AVGCX Dynamic Total ReturnPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Gnma 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 Gnma'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DHGCX  0.15 (0.02) 0.00 (0.40) 0.00 
 0.00 
 0.30 
(0.25)
 0.96 
DHGAX  0.16 (0.01) 0.00  0.71  0.00 
 0.00 
 0.30 
(0.24)
 0.98 
DHMBX  0.21  0.03 (0.18)(0.12) 0.33 
(0.27)
 0.46 
(0.45)
 2.09 
DHYCX  0.20 (0.01)(0.22)(0.10) 0.35 
(0.27)
 0.54 
(0.45)
 2.18 
DHYAX  0.21 (0.01)(0.23)(0.05) 0.37 
(0.25)
 0.45 
(0.54)
 2.18 
DZNJX  0.16  0.02 (0.29)(0.05) 0.22 
(0.22)
 0.34 
(0.34)
 1.53 
DIBCX  0.33 (0.09) 0.00 (1.05) 0.00 
 0.00 
 0.59 
(0.73)
 2.42 
DIBAX  0.33 (0.09) 0.00 (0.91) 0.00 
 0.00 
 0.61 
(0.69)
 2.43 
DIECX  0.65 (0.09) 0.00  1.52  0.00 
 0.00 
 1.09 
(1.43)
 3.76 
DIEAX  0.65 (0.08) 0.00  1.53  0.00 
 0.00 
 1.06 
(1.42)
 3.75 

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