Bny Mellon Correlations

BMIAX Fund

USD 8.81 0.01 0.11%

The current 90-days correlation between Bny Mellon Income and Dodge Cox Stock is -0.12 (i.e., Good 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Bny Mellon Correlation With Market

Almost no diversification

The correlation between Bny Mellon Income and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bny Mellon Income 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 Income. 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 nation.

Moving together with Bny Mutual Fund

0.93	MPBLX	Bny Mellon Asset	Pair Corr
1.0	MPISX	Bny Mellon Income	Pair Corr
0.98	MPMCX	Bny Mellon Mid	Pair Corr
0.94	MPSSX	Bny Mellon Small	Pair Corr
0.96	BMIIX	Bny Mellon Income	Pair Corr
1.0	BMIYX	Bny Mellon Income	Pair Corr
0.96	BMISX	Bny Mellon Income	Pair Corr
0.92	MIBLX	Bny Mellon Asset	Pair Corr
1.0	MIISX	Bny Mellon Income	Pair Corr
0.98	MIMSX	Bny Mellon Mid	Pair Corr
0.94	MISCX	Bny Mellon Small	Pair Corr
0.96	VVIAX	Vanguard Value Index	Pair Corr
0.93	DOXGX	Dodge Cox Stock	Pair Corr
0.88	AFMFX	American Mutual	Pair Corr
0.88	FFMMX	American Funds American	Pair Corr

Moving against Bny Mutual Fund

0.77	MPBFX	Bny Mellon Bond	Pair Corr
0.77	MIBDX	Bny Mellon Bond	Pair Corr
0.76	MPITX	Bny Mellon International	Pair Corr
0.75	MPIBX	Bny Mellon Intermediate	Pair Corr
0.54	BYMIX	Bny Mellon Porate	Pair Corr
0.53	BYMMX	Bny Mellon Porate	Pair Corr
0.46	MMBIX	Bny Mellon Massachusetts	Pair Corr
0.44	MPNIX	Bny Mellon National	Pair Corr
0.43	MMBMX	Bny Mellon Massachusetts	Pair Corr
0.39	MNYIX	Bny Mellon New	Pair Corr
0.37	MNYMX	Bny Mellon New	Pair Corr
0.31	MPPIX	Bny Mellon Pennsylvania	Pair Corr
0.76	MIINX	Bny Mellon International	Pair Corr
0.75	MIIDX	Bny Mellon Intermediate	Pair Corr
0.48	MINMX	Bny Mellon National	Pair Corr
0.4	MIPAX	Bny Mellon Pennsylvania	Pair Corr

Related Correlations Analysis

	DOXGX	AFMFX	FFMMX	FFFMX	AMRMX	AMFFX	AMFCX	VIVAX
DOXGX		0.81	0.8	0.81	0.8	0.86	0.85	0.89	DOXGX
AFMFX	0.81		1.0	1.0	1.0	0.92	0.92	0.96	AFMFX
FFMMX	0.8	1.0		1.0	1.0	0.92	0.92	0.96	FFMMX
FFFMX	0.81	1.0	1.0		1.0	0.92	0.92	0.96	FFFMX
AMRMX	0.8	1.0	1.0	1.0		0.92	0.92	0.96	AMRMX
AMFFX	0.86	0.92	0.92	0.92	0.92		1.0	0.88	AMFFX
AMFCX	0.85	0.92	0.92	0.92	0.92	1.0		0.88	AMFCX
VIVAX	0.89	0.96	0.96	0.96	0.96	0.88	0.88		VIVAX
	DOXGX	AFMFX	FFMMX	FFFMX	AMRMX	AMFFX	AMFCX	VIVAX

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Risk-Adjusted Indicators

There is a big difference between Bny Mutual Fund performing well and Bny Mellon 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 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
DOXGX	0.52	0.09	(0.05)	(1.61)	0.45	(0.59)	0.94	(0.93)	4.22
AFMFX	0.46	(0.02)	(0.11)	0.09	0.43	(0.51)	0.90	(0.86)	2.68
FFMMX	0.46	(0.02)	(0.11)	0.09	0.43	(0.51)	0.90	(0.86)	2.66
FFFMX	0.45	(0.02)	(0.11)	0.09	0.42	(0.51)	0.90	(0.86)	2.68
AMRMX	0.45	(0.02)	(0.11)	0.09	0.43	(0.51)	0.91	(0.86)	2.66
AMFFX	0.45	0.05	(0.12)	2.39	0.43	(0.50)	0.90	(0.86)	2.68
AMFCX	0.45	0.05	(0.13)	2.07	0.43	(0.50)	0.90	(0.88)	2.68
VIVAX	0.51	(0.01)	(0.05)	0.11	0.38	(0.60)	1.05	(0.83)	3.45

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