Bny Mellon Correlations

Mutual Funds . USA . 
Fund . Bny Mellon Insight
DCPAX Fund  USD 9.38  0.02  0.21%   
The current 90-days correlation between Bny Mellon Insight and Dreyfus International Equity is 0.12 (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

Very poor diversification

The correlation between Bny Mellon Insight and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bny Mellon Insight and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Bny Mellon Insight. 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

  0.67DHGAX Dreyfusstandish GlobalPairCorr
  0.77DHMBX Dreyfus High YieldPairCorr
  0.68DHYCX Dreyfus High YieldPairCorr
  0.75DHYAX Dreyfus High YieldPairCorr
  0.86DZNJX Dreyfus New JerseyPairCorr
  0.69DIBCX Dreyfus InternationalPairCorr
  0.73DIBAX Dreyfus InternationalPairCorr
  0.86DIECX Dreyfus InternationalPairCorr
  0.86DIEAX Dreyfus InternationalPairCorr
  0.88DIISX Dreyfus InternationalPairCorr
  0.87DISSX Dreyfus Smallcap StockPairCorr
  0.87DISIX Dreyfus Smallcap StockPairCorr
  0.72DISCX International StockPairCorr
  0.72DISAX International StockPairCorr
  0.86DITEX Dreyfus IntermediatePairCorr
  0.66PGROX Dreyfus Worldwide GrowthPairCorr
  0.66PGRCX Dreyfus Worldwide GrowthPairCorr
  0.77THPBX Dreyfus Balanced OppPairCorr
  0.87DLDCX Dreyfus Natural ResourcesPairCorr
  0.7DLQAX Dreyfus Large CapPairCorr
  0.74DMBCX Dreyfus Municipal BondPairCorr
  0.88DMBAX Dreyfus Short IntermPairCorr
  0.81DMBZX Dreyfus Municipal BondPairCorr
  0.75DMCVX Dreyfus OpportunisticPairCorr
  0.81DMUAX Dreyfus Amt FreePairCorr
  0.77DNLDX Dreyfus Active MidcapPairCorr
  0.76DNLCX Dreyfus Active MidcapPairCorr
  0.87DNLAX Dreyfus Natural ResourcesPairCorr
  0.81DNYAX DnyaxPairCorr
  0.76RUDAX Dreyfusthe Boston PanyPairCorr
  0.91DPLTX Dreyfus High YieldPairCorr
  0.95BYSIX Bny Mellon ShortPairCorr
  0.96BYSAX Bny Mellon ShortPairCorr
  0.7PNYCX Dreyfus New YorkPairCorr
  0.87DQICX Dreyfus Equity IncomePairCorr
  0.88DQIAX Dreyfus Equity IncomePairCorr
  0.78DRCAX Dreyfus California AmtPairCorr
  0.68DREVX Dreyfus FundPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DHGCX  0.09  0.00 (0.38) 0.00  0.08 
(0.10)
 0.21 
(0.21)
 0.62 
DHGAX  0.10  0.00 (0.40) 0.04  0.05 
(0.11)
 0.20 
(0.20)
 0.60 
DHMBX  0.10  0.01 (0.22) 0.62  0.00 
(0.15)
 0.28 
(0.10)
 0.95 
DHYCX  0.10  0.01 (0.21) 0.35  0.00 
(0.17)
 0.28 
(0.19)
 0.94 
DHYAX  0.10  0.01 (0.20) 0.34  0.00 
(0.16)
 0.28 
(0.19)
 0.94 
DZNJX  0.08  0.01 (0.24)(3.65) 0.00 
(0.14)
 0.25 
(0.09)
 0.68 
DIBCX  0.25  0.02 (0.11) 0.30  0.18 
(0.32)
 0.59 
(0.42)
 1.92 
DIBAX  0.24  0.03 (0.10) 0.43  0.18 
(0.29)
 0.55 
(0.40)
 1.95 
DIECX  0.71  0.22  0.24  0.48  0.41 
(0.82)
 1.49 
(1.19)
 7.45 
DIEAX  0.71  0.23  0.25  0.49  0.43 
(0.83)
 1.48 
(1.19)
 7.76 

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