Bny Mellon Correlations

BMIIX Fund

USD 8.77 0.07 0.80%

The current 90-days correlation between Bny Mellon Income and Bny Mellon Massachusetts is 0.17 (i.e., Average 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 0.92 (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 gross domestic product.

Moving together with BNY Mutual Fund

1.0	MPISX	Bny Mellon Income	Pair Corr
0.94	MPMCX	Bny Mellon Mid	Pair Corr
1.0	BMIAX	Bny Mellon Income	Pair Corr
1.0	BMIYX	Bny Mellon Income	Pair Corr
1.0	BMISX	Bny Mellon Income	Pair Corr
0.92	MIBLX	Bny Mellon Asset	Pair Corr
0.94	MIMSX	Bny Mellon Mid	Pair Corr
0.89	MISCX	Bny Mellon Small	Pair Corr
0.91	VVIAX	Vanguard Value Index	Pair Corr
0.93	DOXGX	Dodge Cox Stock	Pair Corr
0.88	AFMFX	American Mutual	Pair Corr
0.83	FFMMX	American Funds American	Pair Corr
0.83	FFFMX	American Funds American	Pair Corr
0.88	AMRMX	American Mutual	Pair Corr
0.83	AMFFX	American Mutual	Pair Corr
0.82	AMFCX	American Mutual	Pair Corr
0.97	DODGX	Dodge Stock Fund	Pair Corr
0.96	VIVAX	Vanguard Value Index	Pair Corr

Moving against BNY Mutual Fund

0.76	MPBFX	Bny Mellon Bond	Pair Corr
0.72	MPITX	Bny Mellon International	Pair Corr
0.45	BYMIX	Bny Mellon Porate	Pair Corr
0.43	MPNIX	Bny Mellon National	Pair Corr
0.39	MMBMX	Bny Mellon Massachusetts	Pair Corr
0.34	MNYMX	Bny Mellon New	Pair Corr
0.33	MNYIX	Bny Mellon New	Pair Corr
0.74	MIBDX	Bny Mellon Bond	Pair Corr
0.73	MIINX	Bny Mellon International	Pair Corr
0.43	MINMX	Bny Mellon National	Pair Corr
0.88	KF	Korea Closed	Pair Corr
0.36	BRUFX	Bruce Fund Bruce	Pair Corr

Related Correlations Analysis

	MMBIX	MMBMX	MNYIX	MNYMX	MOTIX	MOTMX	MPBFX	MPBLX	MPIBX	MPSSX
MMBIX		1.0	0.99	1.0	0.87	0.92	0.76	-0.24	0.82	-0.41	MMBIX
MMBMX	1.0		0.99	0.99	0.86	0.93	0.75	-0.22	0.81	-0.4	MMBMX
MNYIX	0.99	0.99		1.0	0.88	0.94	0.72	-0.17	0.79	-0.36	MNYIX
MNYMX	1.0	0.99	1.0		0.88	0.94	0.72	-0.19	0.79	-0.37	MNYMX
MOTIX	0.87	0.86	0.88	0.88		0.9	0.63	-0.04	0.66	-0.18	MOTIX
MOTMX	0.92	0.93	0.94	0.94	0.9		0.51	0.03	0.61	-0.16	MOTMX
MPBFX	0.76	0.75	0.72	0.72	0.63	0.51		-0.56	0.97	-0.68	MPBFX
MPBLX	-0.24	-0.22	-0.17	-0.19	-0.04	0.03	-0.56		-0.49	0.87	MPBLX
MPIBX	0.82	0.81	0.79	0.79	0.66	0.61	0.97	-0.49		-0.64	MPIBX
MPSSX	-0.41	-0.4	-0.36	-0.37	-0.18	-0.16	-0.68	0.87	-0.64		MPSSX
	MMBIX	MMBMX	MNYIX	MNYMX	MOTIX	MOTMX	MPBFX	MPBLX	MPIBX	MPSSX

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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

MMBMX	+ 1.0	MMBIX
MNYMX	+ 1.0	MMBIX
MNYMX	+ 1.0	MNYIX
MNYIX	+ 0.99	MMBIX
MNYIX	+ 0.99	MMBMX
MNYMX	+ 0.99	MMBMX

High negative correlations

MPSSX	- 0.68	MPBFX
MPSSX	- 0.64	MPIBX
MPBLX	- 0.56	MPBFX
MPIBX	- 0.49	MPBLX
MPSSX	- 0.41	MMBIX
MPSSX	- 0.4	MMBMX

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
MMBIX	0.12	(0.01)	(0.43)	(0.29)	0.21	(0.16)	0.25	(0.32)	1.22
MMBMX	0.12	(0.01)	(0.43)	(0.23)	0.18	(0.18)	0.25	(0.25)	1.14
MNYIX	0.12	(0.01)	(0.39)	(0.14)	0.18	(0.20)	0.29	(0.29)	1.24
MNYMX	0.12	(0.01)	(0.41)	(0.20)	0.20	(0.15)	0.19	(0.29)	1.15
MOTIX	0.14	0.01	(0.35)	0.00	0.19	(0.20)	0.32	(0.32)	1.36
MOTMX	0.14	0.00	(0.31)	0.00	0.21	(0.20)	0.32	(0.32)	1.44
MPBFX	0.23	(0.03)	0.00	0.51	0.00	0.00	0.45	(0.55)	1.38
MPBLX	0.40	(0.01)	(0.11)	0.10	0.49	(0.42)	0.87	(0.92)	2.51
MPIBX	0.14	(0.03)	0.00	(0.73)	0.00	0.00	0.25	(0.25)	0.92
MPSSX	0.86	0.12	0.00	6.96	0.88	(1.02)	2.00	(1.65)	6.79

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