Dreyfus Technology Correlations

DTGRX Fund

USD 65.19 0.65 1.01%

The current 90-days correlation between Dreyfus Technology Growth and Vanguard Information Technology is 0.96 (i.e., Almost no diversification). The correlation of Dreyfus Technology 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 Technology Correlation With Market

Poor diversification

The correlation between Dreyfus Technology Growth and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Technology Growth 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 Technology Growth. 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 metropolitan statistical area.

Moving together with DREYFUS Mutual Fund

0.83	WEBB	Web Global Holdings	Pair Corr
0.77	WGNR	Wegener	Pair Corr
0.8	CETXP	Cemtrex Pref	Pair Corr

Moving against DREYFUS Mutual Fund

0.92	EVOL	Evolving Systems	Pair Corr
0.86	DLPX	Delphax Technologies	Pair Corr
0.74	VVPR	VivoPower International Tech Boost	Pair Corr
0.69	VHAI	VHAI	Pair Corr
0.64	SBIGW	SpringBig Holdings	Pair Corr
0.61	DZSI	DZS Inc	Pair Corr
0.57	XELAP	Exela Technologies	Pair Corr
0.35	VEEA	Veea Inc Symbol Change	Pair Corr
0.87	GETR	Getaround Financial Report 20th of December 2024	Pair Corr
0.86	ZPTAW	Zapata Computing Holdings	Pair Corr
0.83	ZPTA	Zapata Computing Holdings Symbol Change	Pair Corr
0.82	VLD	Velo3D Inc	Pair Corr
0.53	XELA	Exela Technologies Tech Boost	Pair Corr
0.33	GTLL	Global Techs	Pair Corr

Related Correlations Analysis

	VITAX	FSPTX	FSELX	FSCSX	SLMCX	WSTCX
VITAX		0.99	0.9	0.87	0.96	0.95	VITAX
FSPTX	0.99		0.88	0.88	0.95	0.91	FSPTX
FSELX	0.9	0.88		0.58	0.78	0.94	FSELX
FSCSX	0.87	0.88	0.58		0.94	0.7	FSCSX
SLMCX	0.96	0.95	0.78	0.94		0.88	SLMCX
WSTCX	0.95	0.91	0.94	0.7	0.88		WSTCX
	VITAX	FSPTX	FSELX	FSCSX	SLMCX	WSTCX

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Risk-Adjusted Indicators

There is a big difference between DREYFUS Mutual Fund performing well and Dreyfus Technology 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 Technology'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
VITAX	0.92	(0.01)	0.01	0.12	1.36	(0.90)	1.98	(2.45)	6.25
FSPTX	1.00	0.01	0.01	0.13	1.50	(0.93)	1.85	(2.58)	6.77
FSELX	1.59	(0.13)	(0.03)	0.04	2.41	(1.58)	3.39	(4.38)	9.85
FSCSX	0.78	0.08	0.07	0.21	0.84	(0.86)	1.69	(1.77)	5.90
SLMCX	0.81	0.02	0.02	0.14	1.13	(0.86)	1.55	(1.75)	5.35
WSTCX	0.96	(0.02)	(0.01)	0.11	1.41	(0.95)	1.78	(2.46)	6.40

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