Dreyfus High Correlations

DPLTX Fund

USD 5.41 0.01 0.19%

The current 90-days correlation between Dreyfus High Yield and Dreyfusstandish Global Fixed is 0.38 (i.e., Weak diversification). The correlation of Dreyfus High 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 High Correlation With Market

Significant diversification

The correlation between Dreyfus High Yield and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus High Yield 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 High Yield. 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 manufacturing.

Moving together with Dreyfus Mutual Fund

0.75	DHGCX	Dreyfusstandish Global	Pair Corr
0.75	DHGAX	Dreyfusstandish Global	Pair Corr
0.78	DHMBX	Dreyfus High Yield	Pair Corr
0.77	DHYCX	Dreyfus High Yield	Pair Corr
0.77	DHYAX	Dreyfus High Yield	Pair Corr
0.77	DZNJX	Dreyfus New Jersey	Pair Corr
0.65	DIISX	Dreyfus International	Pair Corr
0.76	DITEX	Dreyfus Intermediate	Pair Corr
0.76	PGROX	Dreyfus Worldwide Growth	Pair Corr
0.74	PGRCX	Dreyfus Worldwide Growth	Pair Corr
0.75	THPBX	Dreyfus Balanced Opp	Pair Corr
0.66	DLDCX	Dreyfus Natural Resources	Pair Corr
0.75	DLQAX	Dreyfus Large Cap	Pair Corr
0.76	DMBCX	Dreyfus Municipal Bond	Pair Corr
0.61	DMBAX	Dreyfus Short Interm	Pair Corr
0.78	DMBZX	Dreyfus Municipal Bond	Pair Corr
0.77	DMUCX	Dreyfus Amt Free	Pair Corr
0.75	DMUAX	Dreyfus Amt Free	Pair Corr
0.71	DNLAX	Dreyfus Natural Resources	Pair Corr
0.78	DNYAX	Dnyax	Pair Corr
0.78	BYSYX	Bny Mellon Short	Pair Corr
0.83	BYSIX	Bny Mellon Short	Pair Corr
0.82	BYSAX	Bny Mellon Short	Pair Corr
0.66	AVGCX	Dynamic Total Return	Pair Corr
0.75	AVGAX	Dynamic Total Return	Pair Corr
0.79	PNYCX	Dreyfus New York	Pair Corr
0.87	DQICX	Dreyfus Equity Income	Pair Corr

Related Correlations Analysis

	DHGCX	DHGAX	DHMBX	DHYCX	DHYAX	DZNJX	DIBCX	DIBAX	DIECX	DIEAX
DHGCX		1.0	0.94	0.94	0.94	0.93	-0.1	0.07	0.41	0.41	DHGCX
DHGAX	1.0		0.95	0.95	0.95	0.95	-0.15	0.02	0.43	0.43	DHGAX
DHMBX	0.94	0.95		1.0	1.0	1.0	-0.27	-0.1	0.48	0.52	DHMBX
DHYCX	0.94	0.95	1.0		1.0	1.0	-0.25	-0.08	0.48	0.51	DHYCX
DHYAX	0.94	0.95	1.0	1.0		1.0	-0.27	-0.1	0.49	0.52	DHYAX
DZNJX	0.93	0.95	1.0	1.0	1.0		-0.28	-0.11	0.48	0.52	DZNJX
DIBCX	-0.1	-0.15	-0.27	-0.25	-0.27	-0.28		0.84	-0.11	-0.31	DIBCX
DIBAX	0.07	0.02	-0.1	-0.08	-0.1	-0.11	0.84		-0.11	-0.14	DIBAX
DIECX	0.41	0.43	0.48	0.48	0.49	0.48	-0.11	-0.11		0.82	DIECX
DIEAX	0.41	0.43	0.52	0.51	0.52	0.52	-0.31	-0.14	0.82		DIEAX
	DHGCX	DHGAX	DHMBX	DHYCX	DHYAX	DZNJX	DIBCX	DIBAX	DIECX	DIEAX

Please upgrade your account to get full access to Macroaxis premium features

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

DHGAX	+ 1.0	DHGCX
DHYCX	+ 1.0	DHMBX
DHYAX	+ 1.0	DHMBX
DZNJX	+ 1.0	DHMBX
DHYAX	+ 1.0	DHYCX
DZNJX	+ 1.0	DHYCX

High negative correlations

DIEAX	- 0.31	DIBCX
DIBCX	- 0.28	DZNJX
DIBCX	- 0.27	DHYAX
DIBCX	- 0.27	DHMBX
DIBCX	- 0.25	DHYCX
DIBCX	- 0.15	DHGAX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus High 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 High'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
DHGCX	0.12	0.01	(0.13)	0.62	0.00	(0.15)	0.26	(0.20)	0.77
DHGAX	0.13	0.01	(0.11)	0.74	0.00	(0.15)	0.25	(0.20)	0.74
DHMBX	0.17	0.08	0.33	4.48	0.00	(0.26)	0.58	(0.19)	1.17
DHYCX	0.16	0.08	0.32	2.23	0.00	(0.24)	0.48	(0.19)	1.17
DHYAX	0.16	0.08	0.32	2.38	0.00	(0.25)	0.58	(0.20)	1.17
DZNJX	0.12	0.06	0.18	18.08	0.00	(0.19)	0.35	(0.17)	0.87
DIBCX	0.30	(0.03)	0.00	(0.30)	0.00	0.00	0.57	(0.66)	1.83
DIBAX	0.29	(0.02)	0.00	(0.86)	0.00	0.00	0.55	(0.69)	1.87
DIECX	0.54	(0.05)	0.00	(0.05)	0.00	0.00	0.97	(1.13)	3.47
DIEAX	0.53	0.00	(0.06)	0.09	0.66	(0.61)	0.98	(1.14)	3.45

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC