Dreyfus Worldwide Correlations

Mutual Funds . USA . 
Fund . Dreyfus Worldwide Growth
PGRCX Fund  USD 53.50  0.24  0.45%   
The current 90-days correlation between Dreyfus Worldwide Growth and Columbia Convertible Securities is -0.06 (i.e., Good diversification). The correlation of Dreyfus Worldwide 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 Worldwide Correlation With Market

Modest diversification

The correlation between Dreyfus Worldwide Growth and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Worldwide Growth and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Dreyfus Worldwide Growth. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Dreyfus Mutual Fund

  0.73FNFPX American Funds NewPairCorr
  0.73FFPNX American Funds NewPairCorr
  0.76NPFCX New PerspectivePairCorr
  0.73ANWPX New PerspectivePairCorr
  0.73NPFFX New PerspectivePairCorr
  0.74CNPAX New PerspectivePairCorr
  0.74CNPEX New PerspectivePairCorr
  0.74CNPFX New PerspectivePairCorr
  0.76CNPCX New PerspectivePairCorr
  0.76RNPAX New PerspectivePairCorr
  0.78LIIAX Columbia Porate IncomePairCorr
  0.75SRINX Columbia Porate IncomePairCorr
  0.8WRHIX Ivy High IncomePairCorr
  0.76WHIAX Ivy High IncomePairCorr
  0.79IHIFX Ivy High IncomePairCorr
  0.79IVHIX Ivy High IncomePairCorr
  0.76HPQ HP IncPairCorr
  0.72INTC IntelPairCorr
  0.78XOM Exxon Mobil Corp Earnings Call TodayPairCorr
  0.64CVX Chevron Corp Earnings Call TodayPairCorr
  0.7VZ Verizon CommunicationsPairCorr
  0.8DD Dupont De Nemours Earnings Call This WeekPairCorr

Moving against Dreyfus Mutual Fund

  0.76BA BoeingPairCorr

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   
LCFYX
+ 0.93
NCIDX
PBXIX
+ 0.71
NCIDX
ARBOX
+ 0.7
PBXIX
PBXIX
+ 0.67
LCFYX
ARBOX
+ 0.27
LCFYX
ARBOX
+ 0.24
NCIDX
  
High negative correlations   
ARBOX
- 0.56
CCD
PBXIX
- 0.37
CCD
CCD
- 0.01
NCIDX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Worldwide 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 Worldwide'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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