BNY Mellon Correlations

BKIE Etf

USD 74.15 0.24 0.32%

The current 90-days correlation between BNY Mellon International and Dimensional Core Equity is 0.55 (i.e., Very weak diversification). The correlation of BNY Mellon 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.

BNY Mellon Correlation With Market

Very weak diversification

The correlation between BNY Mellon International and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BNY Mellon International 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 International. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with BNY Etf

1.0	VEA	Vanguard FTSE Developed	Pair Corr
0.99	IEFA	iShares Core MSCI	Pair Corr
0.91	VEU	Vanguard FTSE All	Pair Corr
0.99	EFA	iShares MSCI EAFE	Pair Corr
0.92	IXUS	iShares Core MSCI	Pair Corr
1.0	SPDW	SPDR SP World	Pair Corr
1.0	IDEV	iShares Core MSCI	Pair Corr
0.99	ESGD	iShares ESG Aware	Pair Corr
0.98	JIRE	JP Morgan Exchange	Pair Corr
0.91	DFAX	Dimensional World	Pair Corr
0.84	KO	Coca Cola Aggressive Push	Pair Corr
0.61	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.77	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.69	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr

Moving against BNY Etf

0.71	YCS	ProShares UltraShort Yen	Pair Corr
0.68	ATMP	Barclays ETN Select Low Volatility	Pair Corr
0.67	TBT	ProShares UltraShort	Pair Corr
0.64	SGG	Barclays Capital	Pair Corr
0.5	AMZA	InfraCap MLP ETF	Pair Corr
0.42	DIG	ProShares Ultra Oil	Pair Corr
0.41	MLPR	ETRACS Quarterly Pay	Pair Corr
0.75	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.66	DIS	Walt Disney	Pair Corr
0.66	WMT	Walmart Aggressive Push	Pair Corr
0.65	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.57	CSCO	Cisco Systems Aggressive Push	Pair Corr

Related Correlations Analysis

	DFAU	DFAE	DFAT	DFAS	DFAC
DFAU		0.29	0.91	0.95	1.0	DFAU
DFAE	0.29		0.06	0.13	0.28	DFAE
DFAT	0.91	0.06		0.99	0.93	DFAT
DFAS	0.95	0.13	0.99		0.96	DFAS
DFAC	1.0	0.28	0.93	0.96		DFAC
	DFAU	DFAE	DFAT	DFAS	DFAC

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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
DFAU	0.57	0.01	0.00	0.13	0.65	(0.64)	1.25	(1.31)	4.26
DFAE	0.84	(0.05)	(0.11)	(0.01)	1.07	(0.88)	2.02	(1.91)	5.87
DFAT	0.93	(0.02)	0.05	0.11	0.78	(1.13)	2.01	(1.67)	7.97
DFAS	0.88	(0.01)	0.05	0.12	0.76	(1.05)	2.13	(1.39)	7.02
DFAC	0.59	0.00	0.00	0.12	0.65	(0.66)	1.29	(1.23)	4.65

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