Dreyfus Short-term Correlations

Mutual Funds . USA . 
Fund . Dreyfus Short Term Income
DSTIX Fund  USD 9.73  0.03  0.31%   
The current 90-days correlation between Dreyfus Short Term and Dunham Porategovernment Bond is 0.21 (i.e., Modest diversification). The correlation of Dreyfus Short-term 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 Short-term Correlation With Market

Good diversification

The correlation between Dreyfus Short Term Income and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Short Term Income 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 Short Term Income. 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

  0.8DHGCX Dreyfusstandish GlobalPairCorr
  0.79DHGAX Dreyfusstandish GlobalPairCorr
  0.69DHMBX Dreyfus High YieldPairCorr
  0.7DHYCX Dreyfus High YieldPairCorr
  0.66DHYAX Dreyfus High YieldPairCorr
  0.8DZNJX Dreyfus New JerseyPairCorr
  0.65DIBCX Dreyfus InternationalPairCorr
  0.78DIBAX Dreyfus InternationalPairCorr
  0.82DITEX Dreyfus IntermediatePairCorr
  0.76DMBAX Dreyfus Short IntermPairCorr
  0.81DMUCX Dreyfus Amt FreePairCorr
  0.81DMUAX Dreyfus Amt FreePairCorr
  0.81DNYAX DnyaxPairCorr
  1.0BYSAX Bny Mellon ShortPairCorr
  0.81PNYCX Dreyfus New YorkPairCorr
  0.84DRCAX Dreyfus California AmtPairCorr

Moving against Dreyfus Mutual Fund

  0.48DMCVX Dreyfus OpportunisticPairCorr
  0.45DNLDX Dreyfus Active MidcapPairCorr
  0.34DLQAX Dreyfus Large CapPairCorr
  0.31RUDAX Dreyfusthe Boston PanyPairCorr
  0.47DREVX Dreyfus FundPairCorr
  0.42DAGVX Dreyfus Strategic ValuePairCorr
  0.4DREQX Dreyfus Research GrowthPairCorr
  0.35DSCVX Dreyfus OpportunisticPairCorr

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   
AMUSX
+ 1.0
CGTAX
UIGSX
+ 1.0
CGTAX
UIGSX
+ 1.0
AMUSX
CGTAX
+ 0.99
DACGX
AMUSX
+ 0.99
DACGX
UIGSX
+ 0.99
DACGX
  
High negative correlations   
AGIVX
- 0.1
AMUSX
AGIVX
- 0.1
CGTAX
UIGSX
- 0.07
AGIVX
AGIVX
- 0.06
DACGX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Short-term 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 Short-term'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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