Bny Mellon Correlations

BYMMX Fund

USD 12.19 0.02 0.16%

The current 90-days correlation between Bny Mellon Porate and Payden High Income is 0.68 (i.e., Poor 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

Significant diversification

The correlation between Bny Mellon Porate and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bny Mellon Porate 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 Porate. 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 population.

Moving together with Bny Mutual Fund

0.85	MMBIX	Bny Mellon Massachusetts	Pair Corr
0.84	MMBMX	Bny Mellon Massachusetts	Pair Corr
0.85	MNYIX	Bny Mellon New	Pair Corr
0.83	MNYMX	Bny Mellon New	Pair Corr
0.82	MOTIX	Bny Mellon Municipal	Pair Corr
0.81	MOTMX	Bny Mellon Municipal	Pair Corr
0.84	MPBFX	Bny Mellon Bond	Pair Corr
0.75	MPBLX	Bny Mellon Asset	Pair Corr
0.83	MPIBX	Bny Mellon Intermediate	Pair Corr
0.74	MPNIX	Bny Mellon National	Pair Corr
0.84	MPPIX	Bny Mellon Pennsylvania	Pair Corr
0.69	MPSSX	Bny Mellon Small	Pair Corr
0.9	BYMIX	Bny Mellon Porate	Pair Corr
0.66	BMISX	Bny Mellon Income	Pair Corr
0.82	MIBDX	Bny Mellon Bond	Pair Corr
0.79	MIBLX	Bny Mellon Asset	Pair Corr
0.83	MIIDX	Bny Mellon Intermediate	Pair Corr
0.74	MINMX	Bny Mellon National	Pair Corr
0.84	MIPAX	Bny Mellon Pennsylvania	Pair Corr
0.62	MISCX	Bny Mellon Small	Pair Corr
0.88	VICSX	Vanguard Intermediate-ter	Pair Corr
0.88	VFICX	Vanguard Intermediate-ter	Pair Corr
0.87	VFIDX	Vanguard Intermediate-ter	Pair Corr
0.88	VICBX	Vanguard Intermediate	Pair Corr

Related Correlations Analysis

	PYRLX	NHIEX	FPIOX	SGYAX	GHVIX	VRHYX	BUFHX
PYRLX		0.93	0.95	0.87	0.98	0.92	0.84	PYRLX
NHIEX	0.93		0.97	0.86	0.94	0.96	0.81	NHIEX
FPIOX	0.95	0.97		0.91	0.93	0.99	0.89	FPIOX
SGYAX	0.87	0.86	0.91		0.83	0.89	0.89	SGYAX
GHVIX	0.98	0.94	0.93	0.83		0.91	0.81	GHVIX
VRHYX	0.92	0.96	0.99	0.89	0.91		0.89	VRHYX
BUFHX	0.84	0.81	0.89	0.89	0.81	0.89		BUFHX
	PYRLX	NHIEX	FPIOX	SGYAX	GHVIX	VRHYX	BUFHX

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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
PYRLX	0.12	0.02	(0.25)	0.80	0.00	(0.20)	0.31	(0.31)	0.95
NHIEX	0.13	0.00	(0.27)	0.00	0.00	(0.21)	0.40	(0.26)	1.18
FPIOX	0.15	0.03	(0.25)	8.15	0.00	(0.23)	0.57	(0.23)	1.04
SGYAX	0.15	0.02	(0.33)	0.75	0.00	(0.26)	0.56	(0.28)	1.27
GHVIX	0.15	0.02	(0.26)	1.19	0.07	(0.17)	0.24	(0.36)	0.96
VRHYX	0.15	0.02	(0.21)	2.36	0.00	(0.34)	0.52	(0.26)	1.30
BUFHX	0.08	0.03	(0.40)	1.53	0.00	(0.13)	0.19	(0.09)	0.66

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Bny Mellon Correlations

Bny Mellon Correlation With Market

Significant diversification

Moving together with Bny Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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