Dreyfus High Yield Fund Market Value

DPLTX Fund  USD 5.24  0.02  0.38%   
Dreyfus High's market value is the price at which a share of Dreyfus High trades on a public exchange. It measures the collective expectations of Dreyfus High Yield investors about its performance. Dreyfus High is trading at 5.24 as of the 19th of April 2024; that is -0.38 percent decrease since the beginning of the trading day. The fund's open price was 5.26.
With this module, you can estimate the performance of a buy and hold strategy of Dreyfus High Yield and determine expected loss or profit from investing in Dreyfus High over a given investment horizon. Check out Dreyfus High Correlation, Dreyfus High Volatility and Dreyfus High Alpha and Beta module to complement your research on Dreyfus High.
Symbol

Please note, there is a significant difference between Dreyfus High's value and its price as these two are different measures arrived at by different means. Investors typically determine if Dreyfus High is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Dreyfus High's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

Dreyfus High '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 High'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 High.
0.00
10/22/2023
No Change 0.00  0.0 
In 5 months and 30 days
04/19/2024
0.00
If you would invest  0.00  in Dreyfus High on October 22, 2023 and sell it all today you would earn a total of 0.00 from holding Dreyfus High Yield or generate 0.0% return on investment in Dreyfus High over 180 days. Dreyfus High is related to or competes with Dreyfusstandish Global, Dreyfusstandish Global, Dreyfus High, Dreyfus High, Dreyfus High, Dreyfus New, and Dreyfus International. The fund normally invests at least 80 percent of its net assets, plus any borrowings for investment purposes, in fixed-i... More

Dreyfus High 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 High'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 High Yield upside and downside potential and time the market with a certain degree of confidence.

Dreyfus High Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Dreyfus High's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Dreyfus High's standard deviation. In reality, there are many statistical measures that can use Dreyfus High historical prices to predict the future Dreyfus High's volatility.
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Dreyfus High'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.
Hype
Prediction
LowEstimatedHigh
5.035.245.45
Details
Intrinsic
Valuation
LowRealHigh
5.045.255.46
Details
Naive
Forecast
LowNextHigh
5.025.235.43
Details
Bollinger
Band Projection (param)
LowerMiddle BandUpper
5.235.285.34
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Dreyfus High. Your research has to be compared to or analyzed against Dreyfus High's peers to derive any actionable benefits. When done correctly, Dreyfus High's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Dreyfus High Yield.

Dreyfus High Yield Backtested Returns

We consider Dreyfus High very steady. Dreyfus High Yield secures Sharpe Ratio (or Efficiency) of 0.001, which denotes the fund had a 0.001% return per unit of standard deviation over the last 3 months. We have found twenty-one technical indicators for Dreyfus High Yield, which you can use to evaluate the volatility of the entity. Please confirm Dreyfus High's Standard Deviation of 0.2131, coefficient of variation of (3,840), and Mean Deviation of 0.1407 to check if the risk estimate we provide is consistent with the expected return of 2.0E-4%. The fund shows a Beta (market volatility) of 0.0716, which means not very significant fluctuations relative to the market. As returns on the market increase, Dreyfus High's returns are expected to increase less than the market. However, during the bear market, the loss of holding Dreyfus High is expected to be smaller as well.

Auto-correlation

    
  0.67  

Good predictability

Dreyfus High Yield has good predictability. Overlapping area represents the amount of predictability between Dreyfus High time series from 22nd of October 2023 to 20th of January 2024 and 20th of January 2024 to 19th 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 High Yield price movement. The serial correlation of 0.67 indicates that around 67.0% of current Dreyfus High price fluctuation can be explain by its past prices.
Correlation Coefficient0.67
Spearman Rank Test0.55
Residual Average0.0
Price Variance0.0

Dreyfus High Yield lagged returns against current returns

Autocorrelation, which is Dreyfus High 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 High's mutual fund expected returns. We can calculate the autocorrelation of Dreyfus High returns to help us make a trade decision. For example, suppose you find that Dreyfus High 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 High 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 High mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Dreyfus High 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 High mutual fund over time.
   Current vs Lagged Prices   
       Timeline  

Dreyfus High Lagged Returns

When evaluating Dreyfus High's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Dreyfus High mutual fund have on its future price. Dreyfus High 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 High autocorrelation shows the relationship between Dreyfus High mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Dreyfus High Yield.
   Regressed Prices   
       Timeline  

Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Dreyfus High in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Dreyfus High's short interest history, or implied volatility extrapolated from Dreyfus High options trading.

Pair Trading with Dreyfus High

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 High 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 High will appreciate offsetting losses from the drop in the long position's value.

Moving together with Dreyfus Mutual Fund

  0.82DHGCX Dreyfusstandish GlobalPairCorr
  0.78DHGAX Dreyfusstandish GlobalPairCorr
  0.82DHMBX Dreyfus High YieldPairCorr
  0.79DHYCX Dreyfus High YieldPairCorr
  0.82DHYAX Dreyfus High YieldPairCorr
The ability to find closely correlated positions to Dreyfus High 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 High 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 High - 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 High Yield to buy it.
The correlation of Dreyfus High 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 High moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dreyfus High Yield 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 High 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.
Pair CorrelationCorrelation Matching
Check out Dreyfus High Correlation, Dreyfus High Volatility and Dreyfus High Alpha and Beta module to complement your research on Dreyfus High.
You can also try the Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
Dreyfus High 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.
A focus of Dreyfus High technical analysis is to determine if market prices reflect all relevant information impacting that market. A technical analyst looks at the history of Dreyfus High trading pattern rather than external drivers such as economic, fundamental, or social events. It is believed that price action tends to repeat itself due to investors' collective, patterned behavior. Hence technical analysis focuses on identifiable price trends and conditions. More Info...