Bank of New York Mellon Correlations

Stocks . Germany . 
Stock . The Bank of
BN9 Stock  EUR 76.66  1.78  2.38%   
The current 90-days correlation between Bank of New York Mellon and NTG Nordic Transport is 0.19 (i.e., Average diversification). The correlation of Bank of New York 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.

Bank of New York Mellon Correlation With Market

Weak diversification

The correlation between The Bank of and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Bank of and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Bank of New York Mellon could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bank of New York Mellon 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 Bank of New York Mellon - 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 The Bank of to buy it.

Moving together with Bank Stock

  0.96BBN1 Blackstone GroupPairCorr
  0.98BLQA BlackRockPairCorr
  0.97A4S Ameriprise FinancialPairCorr
  0.98ZYA State StreetPairCorr
  0.93TR1 T Rowe PricePairCorr
  0.970QN Ares Management CorpPairCorr
  0.94NT4 Northern TrustPairCorr
  0.91C2H Copa Holdings SAPairCorr
  0.68HO1 HologicPairCorr
  0.74YMI Yellow Pages LimitedPairCorr
  0.93UN3 United Natural FoodsPairCorr
  0.62DBPE Xtrackers LevDAXPairCorr

Moving against Bank Stock

  0.746EQ EQT ABPairCorr
  0.61DBPD Xtrackers ShortDAXPairCorr

Related Correlations Analysis

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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   
55O1
+ 0.93
ZSL
SCG
+ 0.65
NRSA
SCG
+ 0.63
D2V
CUW
+ 0.62
55O1
CUW
+ 0.6
ZSL
RNT
+ 0.59
ZSL
  
High negative correlations   
CUG
- 0.17
RNT
CUG
- 0.07
55O1
CUG
- 0.07
ZSL
CUW
- 0.05
CUG

Risk-Adjusted Indicators

There is a big difference between Bank Stock performing well and Bank of New York Mellon Company 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 Bank of New York 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Bank of New York Mellon without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Bank of New York Mellon Corporate Management

Elected by the shareholders, the Bank of New York Mellon's board of directors comprises two types of representatives: Bank of New York Mellon inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Bank. The board's role is to monitor Bank of New York Mellon's management team and ensure that shareholders' interests are well served. Bank of New York Mellon's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Bank of New York Mellon's outside directors are responsible for providing unbiased perspectives on the board's policies.
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