Dreyfus Short-term Correlations

DSTIX Fund

USD 9.81 0.01 0.10%

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

Very poor diversification

The correlation between Dreyfus Short Term Income and DJI is 0.83 (i.e., Very poor 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

0.83	DZNJX	Dreyfus New Jersey	Pair Corr
0.88	DIECX	Dreyfus International	Pair Corr
0.88	DIEAX	Dreyfus International	Pair Corr
0.85	DIISX	Dreyfus International	Pair Corr
0.85	DISSX	Dreyfus Smallcap Stock	Pair Corr
0.85	DISIX	Dreyfus Smallcap Stock	Pair Corr
0.85	DISCX	International Stock	Pair Corr
0.84	DISAX	International Stock	Pair Corr
0.83	DITEX	Dreyfus Intermediate	Pair Corr
0.82	PGROX	Dreyfus Worldwide Growth	Pair Corr
0.82	PGRCX	Dreyfus Worldwide Growth	Pair Corr
0.87	THPBX	Dreyfus Balanced Opp	Pair Corr
0.85	DLDCX	Dreyfus Natural Resources	Pair Corr
0.84	DLQAX	Dreyfus Large Cap	Pair Corr
0.86	DMBAX	Dreyfus Short Interm	Pair Corr
0.67	DMBZX	Dreyfus Municipal Bond	Pair Corr
0.84	DMCVX	Dreyfus Opportunistic	Pair Corr
0.71	DMUAX	Dreyfus Amt Free	Pair Corr
0.86	DNLDX	Dreyfus Active Midcap	Pair Corr
0.86	DNLCX	Dreyfus Active Midcap	Pair Corr
0.84	DNLAX	Dreyfus Natural Resources	Pair Corr
0.66	DNYAX	Dnyax	Pair Corr
0.85	RUDAX	Dreyfusthe Boston Pany	Pair Corr
0.91	DPLTX	Dreyfus High Yield	Pair Corr
0.95	BYSYX	Bny Mellon Short	Pair Corr
0.96	BYSIX	Bny Mellon Short	Pair Corr
0.96	BYSAX	Bny Mellon Short	Pair Corr
0.84	DQICX	Dreyfus Equity Income	Pair Corr
0.84	DQIAX	Dreyfus Equity Income	Pair Corr
0.62	DRCAX	Dreyfus California Amt	Pair Corr

Related Correlations Analysis

	ETMDX	ETMOX	GCV	ABHIX	GGSOX	FMGIX	GGSYX	JSVTX	FCIVX	MTPIX
ETMDX		0.98	0.84	0.89	0.82	0.78	0.82	0.81	0.78	0.0	ETMDX
ETMOX	0.98		0.79	0.84	0.75	0.72	0.75	0.73	0.72	0.0	ETMOX
GCV	0.84	0.79		0.83	0.94	0.7	0.94	0.78	0.7	0.0	GCV
ABHIX	0.89	0.84	0.83		0.88	0.83	0.88	0.9	0.83	0.0	ABHIX
GGSOX	0.82	0.75	0.94	0.88		0.72	1.0	0.83	0.72	0.0	GGSOX
FMGIX	0.78	0.72	0.7	0.83	0.72		0.72	0.88	1.0	0.0	FMGIX
GGSYX	0.82	0.75	0.94	0.88	1.0	0.72		0.83	0.72	0.0	GGSYX
JSVTX	0.81	0.73	0.78	0.9	0.83	0.88	0.83		0.88	0.0	JSVTX
FCIVX	0.78	0.72	0.7	0.83	0.72	1.0	0.72	0.88		0.0	FCIVX
MTPIX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		MTPIX
	ETMDX	ETMOX	GCV	ABHIX	GGSOX	FMGIX	GGSYX	JSVTX	FCIVX	MTPIX

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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

GGSYX	+ 1.0	GGSOX
FCIVX	+ 1.0	FMGIX
ETMOX	+ 0.98	ETMDX
GGSOX	+ 0.94	GCV
GGSYX	+ 0.94	GCV
JSVTX	+ 0.9	ABHIX

High negative correlations

MTPIX	- 0.0	FCIVX
MTPIX	- 0.0	JSVTX
MTPIX	- 0.0	GGSYX
MTPIX	- 0.0	FMGIX
MTPIX	- 0.0	GGSOX
MTPIX	- 0.0	ABHIX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ETMDX	0.08	0.01	(0.21)	(1.12)	0.00	(0.16)	0.24	(0.12)	0.84
ETMOX	0.08	0.01	(0.29)	(4.60)	0.00	(0.16)	0.23	(0.12)	0.58
GCV	0.74	0.08	0.05	0.24	0.81	(0.82)	2.13	(1.44)	4.09
ABHIX	0.11	0.01	(0.20)	0.45	0.00	(0.28)	0.39	(0.20)	0.77
GGSOX	0.66	(0.01)	(0.02)	0.05	0.89	(0.65)	1.34	(1.55)	3.23
FMGIX	1.27	0.75	1.23	(1.04)	0.00	(1.60)	0.87	(0.66)	41.75
GGSYX	0.67	(0.01)	(0.01)	0.05	0.90	(0.66)	1.37	(1.59)	3.23
JSVTX	0.94	0.30	0.30	0.37	0.40	(1.07)	2.29	(1.40)	11.41
FCIVX	1.27	0.75	1.26	(1.04)	0.00	(1.60)	0.87	(0.74)	41.72
MTPIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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