Dreyfus Equity Correlations

DQIAX Fund

USD 36.13 0.24 0.66%

The current 90-days correlation between Dreyfus Equity Income and T Rowe Price is -0.02 (i.e., Good diversification). The correlation of Dreyfus Equity 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 Equity Correlation With Market

Significant diversification

The correlation between Dreyfus Equity Income and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Equity 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 Equity 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 nation.

Moving together with Dreyfus Mutual Fund

0.63	DHGCX	Dreyfusstandish Global	Pair Corr
0.66	DHGAX	Dreyfusstandish Global	Pair Corr
0.73	DHMBX	Dreyfus High Yield	Pair Corr
0.72	DHYCX	Dreyfus High Yield	Pair Corr
0.75	DHYAX	Dreyfus High Yield	Pair Corr
0.74	DZNJX	Dreyfus New Jersey	Pair Corr
0.79	DIECX	Dreyfus International	Pair Corr
0.84	DIEAX	Dreyfus International	Pair Corr
0.79	DIISX	Dreyfus International	Pair Corr
0.73	DITEX	Dreyfus Intermediate	Pair Corr
0.88	PGROX	Dreyfus Worldwide Growth	Pair Corr
0.88	PGRCX	Dreyfus Worldwide Growth	Pair Corr
0.83	THPBX	Dreyfus Balanced Opp	Pair Corr
0.92	DLQAX	Dreyfus Large Cap	Pair Corr
0.74	DMBCX	Dreyfus Municipal Bond	Pair Corr
0.73	DMBZX	Dreyfus Municipal Bond	Pair Corr
0.73	DMUCX	Dreyfus Amt Free	Pair Corr
0.73	DMUAX	Dreyfus Amt Free	Pair Corr
0.68	DNLAX	Dreyfus Natural Resources	Pair Corr
0.75	DNYAX	Dnyax	Pair Corr
0.75	DPLTX	Dreyfus High Yield	Pair Corr
0.64	BYSAX	Bny Mellon Short	Pair Corr
0.62	AVGCX	Dynamic Total Return	Pair Corr
0.7	AVGAX	Dynamic Total Return	Pair Corr
0.73	PNYCX	Dreyfus New York	Pair Corr
1.0	DQICX	Dreyfus Equity Income	Pair Corr

Moving against Dreyfus Mutual Fund

0.35

DIBCX

Dreyfus International

Pair Corr

Related Correlations Analysis

	TBLDX	RRTCX	TBLSX	QLMAFX	TRRGX	FHRVX
TBLDX		0.99	1.0	0.91	1.0	0.93	TBLDX
RRTCX	0.99		0.99	0.89	1.0	0.9	RRTCX
TBLSX	1.0	0.99		0.9	1.0	0.92	TBLSX
QLMAFX	0.91	0.89	0.9		0.89	0.98	QLMAFX
TRRGX	1.0	1.0	1.0	0.89		0.91	TRRGX
FHRVX	0.93	0.9	0.92	0.98	0.91		FHRVX
	TBLDX	RRTCX	TBLSX	QLMAFX	TRRGX	FHRVX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus Equity 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 Equity'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
TBLDX	0.28	0.01	(0.03)	0.09	0.32	(0.30)	0.64	(0.54)	1.73
RRTCX	0.33	0.01	(0.02)	0.08	0.45	(0.33)	0.76	(0.71)	2.20
TBLSX	0.27	0.01	(0.04)	0.08	0.32	(0.29)	0.56	(0.64)	1.67
QLMAFX	0.31	0.03	(0.04)	0.42	0.42	(0.33)	0.73	(0.71)	2.02
TRRGX	0.26	0.01	(0.05)	0.08	0.30	(0.27)	0.58	(0.50)	1.66
FHRVX	0.23	0.02	(0.09)	0.29	0.19	(0.23)	0.46	(0.42)	1.31

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