Correlation Between Franklin Government and Dreyfus Global
Can any of the company-specific risk be diversified away by investing in both Franklin Government and Dreyfus Global 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 Franklin Government and Dreyfus Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Franklin Government Money and Dreyfus Global Real, you can compare the effects of market volatilities on Franklin Government and Dreyfus Global 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 Franklin Government with a short position of Dreyfus Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Franklin Government and Dreyfus Global.
Diversification Opportunities for Franklin Government and Dreyfus Global
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Franklin and Dreyfus is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Government Money and Dreyfus Global Real in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dreyfus Global Real and Franklin Government 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 Franklin Government Money are associated (or correlated) with Dreyfus Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dreyfus Global Real has no effect on the direction of Franklin Government i.e., Franklin Government and Dreyfus Global go up and down completely randomly.
Pair Corralation between Franklin Government and Dreyfus Global
If you would invest 851.00 in Dreyfus Global Real on May 29, 2025 and sell it today you would earn a total of 18.00 from holding Dreyfus Global Real or generate 2.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Franklin Government Money vs. Dreyfus Global Real
Performance |
| Timeline |
| Franklin Government Money |
| Dreyfus Global Real |
Franklin Government and Dreyfus Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Franklin Government and Dreyfus Global
The main advantage of trading using opposite Franklin Government and Dreyfus Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Franklin Government position performs unexpectedly, Dreyfus Global 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 Dreyfus Global will offset losses from the drop in Dreyfus Global's long position.| Franklin Government vs. Vanguard Total Stock | Franklin Government vs. Vanguard 500 Index | Franklin Government vs. Vanguard Total Stock | Franklin Government vs. Vanguard Total Stock |
| Dreyfus Global vs. Transamerica Financial Life | Dreyfus Global vs. Mesirow Financial Small | Dreyfus Global vs. Davis Financial Fund | Dreyfus Global vs. Icon Financial Fund |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
Other Complementary Tools
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges |