Dreyfus International Correlations

Mutual Funds . USA . 
Fund . Dreyfus International Equity
DIERX Fund  USD 39.49  0.57  1.42%   
The current 90-days correlation between Dreyfus International and Dreyfus High Yield is 0.03 (i.e., Significant diversification). The correlation of Dreyfus International 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 International Correlation With Market

Very weak diversification

The correlation between Dreyfus International Equity and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus International Equity 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 International Equity. 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 metropolitan statistical area.

Moving together with Dreyfus Mutual Fund

  0.79DIBRX Dreyfus InternationalPairCorr
  0.79DIBYX Dreyfus InternationalPairCorr
  1.0DIEYX Dreyfus InternationalPairCorr
  0.96DINIX Dreyfus InternationalPairCorr
  0.9DISRX International StockPairCorr
  0.9DISYX International StockPairCorr
  0.7SDGIX Dreyfusstandish GlobalPairCorr
  0.67DPRIX Dreyfus Worldwide GrowthPairCorr
  0.67DPWRX Dreyfus Worldwide GrowthPairCorr
  0.65DQEIX Dreyfus Global EquityPairCorr

Related Correlations Analysis

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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   
DIBYX
+ 1.0
DIBRX
DISYX
+ 1.0
DISRX
DISRX
+ 0.92
DINIX
DISYX
+ 0.92
DINIX
DIMIX
+ 0.8
DHYYX
DISRX
+ 0.69
DIBRX
  
High negative correlations   
DIBYX
- 0.44
SSETX
DIBRX
- 0.44
SSETX
DISYX
- 0.09
SSETX
DISRX
- 0.09
SSETX
SSETX
- 0.06
DHYYX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus International 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 International'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.

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