Correlation Between Dreyfus Global and Siit Emerging
Can any of the company-specific risk be diversified away by investing in both Dreyfus Global and Siit Emerging at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Dreyfus Global and Siit Emerging into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Dreyfus Global Emerging and Siit Emerging Markets, you can compare the effects of market volatilities on Dreyfus Global and Siit Emerging and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Dreyfus Global with a short position of Siit Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dreyfus Global and Siit Emerging.
Diversification Opportunities for Dreyfus Global and Siit Emerging
0.97 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Dreyfus and Siit is 0.97. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus Global Emerging and Siit Emerging Markets in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Siit Emerging Markets and Dreyfus Global is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Dreyfus Global Emerging are associated (or correlated) with Siit Emerging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Siit Emerging Markets has no effect on the direction of Dreyfus Global i.e., Dreyfus Global and Siit Emerging go up and down completely randomly.
Pair Corralation between Dreyfus Global and Siit Emerging
Assuming the 90 days horizon Dreyfus Global Emerging is expected to generate 3.33 times more return on investment than Siit Emerging. However, Dreyfus Global is 3.33 times more volatile than Siit Emerging Markets. It trades about 0.23 of its potential returns per unit of risk. Siit Emerging Markets is currently generating about 0.36 per unit of risk. If you would invest 2,037 in Dreyfus Global Emerging on July 28, 2025 and sell it today you would earn a total of 514.00 from holding Dreyfus Global Emerging or generate 25.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dreyfus Global Emerging vs. Siit Emerging Markets
Performance |
| Timeline |
| Dreyfus Global Emerging |
| Siit Emerging Markets |
Dreyfus Global and Siit Emerging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dreyfus Global and Siit Emerging
The main advantage of trading using opposite Dreyfus Global and Siit Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dreyfus Global position performs unexpectedly, Siit Emerging can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Siit Emerging will offset losses from the drop in Siit Emerging's long position.| Dreyfus Global vs. Profunds Large Cap Growth | Dreyfus Global vs. Astonherndon Large Cap | Dreyfus Global vs. Transamerica Large Cap | Dreyfus Global vs. Fidelity Large Cap |
| Siit Emerging vs. Pace International Emerging | Siit Emerging vs. Angel Oak Multi Strategy | Siit Emerging vs. Doubleline Emerging Markets | Siit Emerging vs. Rbc Emerging Markets |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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