Correlation Between Dreyfus/standish and First Eagle
Can any of the company-specific risk be diversified away by investing in both Dreyfus/standish and First Eagle 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/standish and First Eagle into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Dreyfusstandish Global Fixed and First Eagle Fund, you can compare the effects of market volatilities on Dreyfus/standish and First Eagle 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/standish with a short position of First Eagle. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dreyfus/standish and First Eagle.
Diversification Opportunities for Dreyfus/standish and First Eagle
0.77 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Dreyfus/standish and First is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfusstandish Global Fixed and First Eagle Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on First Eagle Fund and Dreyfus/standish 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 Dreyfusstandish Global Fixed are associated (or correlated) with First Eagle. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of First Eagle Fund has no effect on the direction of Dreyfus/standish i.e., Dreyfus/standish and First Eagle go up and down completely randomly.
Pair Corralation between Dreyfus/standish and First Eagle
Assuming the 90 days horizon Dreyfus/standish is expected to generate 3.56 times less return on investment than First Eagle. But when comparing it to its historical volatility, Dreyfusstandish Global Fixed is 4.82 times less risky than First Eagle. It trades about 0.21 of its potential returns per unit of risk. First Eagle Fund is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 3,064 in First Eagle Fund on August 31, 2025 and sell it today you would earn a total of 206.00 from holding First Eagle Fund or generate 6.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dreyfusstandish Global Fixed vs. First Eagle Fund
Performance |
| Timeline |
| Dreyfusstandish Global |
| First Eagle Fund |
Dreyfus/standish and First Eagle Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dreyfus/standish and First Eagle
The main advantage of trading using opposite Dreyfus/standish and First Eagle positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dreyfus/standish position performs unexpectedly, First Eagle 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 First Eagle will offset losses from the drop in First Eagle's long position.| Dreyfus/standish vs. Elfun Government Money | Dreyfus/standish vs. Franklin Government Money | Dreyfus/standish vs. Prudential Government Money | Dreyfus/standish vs. Money Market Obligations |
| First Eagle vs. Ab Global Risk | First Eagle vs. Rbb Fund Trust | First Eagle vs. Ab Global Bond | First Eagle vs. Templeton Global Balanced |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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