BNY Mellon Correlations

BKEM Etf

USD 59.96 0.02 0.03%

The current 90-days correlation between BNY Mellon ETF and BNY Mellon International is 0.79 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as BNY Mellon moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BNY Mellon ETF moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

BNY Mellon Correlation With Market

Modest diversification

The correlation between BNY Mellon ETF and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BNY Mellon ETF and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in BNY Mellon ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with BNY Etf

0.97	VWO	Vanguard FTSE Emerging	Pair Corr
1.0	IEMG	iShares Core MSCI	Pair Corr
0.98	EMC	Global X Funds	Pair Corr
1.0	EEM	iShares MSCI Emerging	Pair Corr
0.97	SPEM	SPDR Portfolio Emerging	Pair Corr
0.96	FNDE	Schwab Fundamental	Pair Corr
1.0	ESGE	iShares ESG Aware	Pair Corr
0.71	DGS	WisdomTree Emerging	Pair Corr
0.99	XSOE	WisdomTree Emerging	Pair Corr
0.9	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.65	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.69	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	BKIE	BKHY	BKMC	BKSE	BKLC
BKIE		-0.23	-0.5	-0.51	-0.49	BKIE
BKHY	-0.23		0.8	0.77	0.81	BKHY
BKMC	-0.5	0.8		0.98	0.97	BKMC
BKSE	-0.51	0.77	0.98		0.94	BKSE
BKLC	-0.49	0.81	0.97	0.94		BKLC
	BKIE	BKHY	BKMC	BKSE	BKLC

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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

BKSE	+ 0.98	BKMC
BKLC	+ 0.97	BKMC
BKLC	+ 0.94	BKSE
BKLC	+ 0.81	BKHY
BKMC	+ 0.8	BKHY
BKSE	+ 0.77	BKHY

High negative correlations

BKSE	- 0.51	BKIE
BKMC	- 0.5	BKIE
BKLC	- 0.49	BKIE
BKHY	- 0.23	BKIE

BNY Mellon Constituents Risk-Adjusted Indicators

There is a big difference between BNY Etf performing well and BNY Mellon ETF 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 BNY Mellon'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BKIE	0.59	(0.13)	0.00	(0.19)	0.00	0.00	1.11	(1.37)	3.37
BKHY	0.16	0.00	(0.47)	0.15	0.05	(0.18)	0.37	(0.33)	0.88
BKMC	0.67	0.02	0.04	0.14	0.65	(0.72)	1.51	(1.08)	4.51
BKSE	0.84	(0.01)	0.03	0.11	0.79	(0.90)	1.83	(1.47)	6.63
BKLC	0.56	0.01	(0.01)	0.13	0.66	(0.61)	1.11	(1.38)	3.89

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