Dreyfus New Jersey Fund Market Value
| DNMIX Fund | USD 11.67 0.01 0.09% |
| Symbol | Dreyfus |
Dreyfus New 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Dreyfus New's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Dreyfus New.
| 03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in Dreyfus New on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding Dreyfus New Jersey or generate 0.0% return on investment in Dreyfus New over 30 days. Dreyfus New is related to or competes with International Investors, Precious Metals, Fidelity Advisor, Sprott Gold, Great-west Goldman, and Wells Fargo. To pursue its goal, the fund normally invests at least 80 percent of its net assets, plus any borrowings for investment ... More
Dreyfus New Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Dreyfus New's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Dreyfus New Jersey upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.53) | |||
| Maximum Drawdown | 1.19 | |||
| Value At Risk | (0.26) | |||
| Potential Upside | 0.2566 |
Dreyfus New Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Dreyfus New's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Dreyfus New's standard deviation. In reality, there are many statistical measures that can use Dreyfus New historical prices to predict the future Dreyfus New's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.04) | |||
| Treynor Ratio | (2.68) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Dreyfus New's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Dreyfus New Jersey Backtested Returns
Dreyfus New Jersey secures Sharpe Ratio (or Efficiency) of -0.0135, which denotes the fund had a -0.0135% return per unit of standard deviation over the last 3 months. Dreyfus New Jersey exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Dreyfus New's Mean Deviation of 0.1253, standard deviation of 0.1896, and Coefficient Of Variation of (3,789) to check the risk estimate we provide. The fund shows a Beta (market volatility) of 0.0056, which means not very significant fluctuations relative to the market. As returns on the market increase, Dreyfus New's returns are expected to increase less than the market. However, during the bear market, the loss of holding Dreyfus New is expected to be smaller as well.
Auto-correlation | 0.82 |
Very good predictability
Dreyfus New Jersey has very good predictability. Overlapping area represents the amount of predictability between Dreyfus New time series from 26th of March 2024 to 10th of April 2024 and 10th of April 2024 to 25th of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Dreyfus New Jersey price movement. The serial correlation of 0.82 indicates that around 82.0% of current Dreyfus New price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.82 | |
| Spearman Rank Test | 0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Dreyfus New Jersey lagged returns against current returns
Autocorrelation, which is Dreyfus New mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Dreyfus New's mutual fund expected returns. We can calculate the autocorrelation of Dreyfus New returns to help us make a trade decision. For example, suppose you find that Dreyfus New has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Dreyfus New regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Dreyfus New mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Dreyfus New mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Dreyfus New mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Dreyfus New Lagged Returns
When evaluating Dreyfus New's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Dreyfus New mutual fund have on its future price. Dreyfus New autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Dreyfus New autocorrelation shows the relationship between Dreyfus New mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Dreyfus New Jersey.
Regressed Prices |
| Timeline |
Pair Trading with Dreyfus New
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Dreyfus New position performs unexpectedly, the other equity 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 New will appreciate offsetting losses from the drop in the long position's value.Moving together with Dreyfus Mutual Fund
| 0.83 | DHYYX | Dreyfus High Yield | PairCorr |
| 0.73 | DIBRX | Dreyfus International | PairCorr |
| 0.67 | DIBYX | Dreyfus International | PairCorr |
The ability to find closely correlated positions to Dreyfus New could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dreyfus New when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Dreyfus New - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Dreyfus New Jersey to buy it.
The correlation of Dreyfus New 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Dreyfus New moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dreyfus New Jersey moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Dreyfus New can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Dreyfus New Correlation, Dreyfus New Volatility and Dreyfus New Alpha and Beta module to complement your research on Dreyfus New. You can also try the Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Dreyfus New technical mutual fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.