Bny Mellon Correlations

DMB Fund

USD 10.38 0.03 0.29%

The current 90-days correlation between Bny Mellon Municipal and Flaherty Crumrine Total is 0.25 (i.e., Modest 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.

Bny Mellon Correlation With Market

Modest diversification

The correlation between Bny Mellon Municipal and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bny Mellon Municipal 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 Municipal. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Bny Fund

0.73	PHK	Pimco High Income	Pair Corr
0.67	GSWPX	Goldman Sachs Smallmid	Pair Corr
0.66	EVT	Eaton Vance Tax	Pair Corr
0.64	ARTNX	Artisan Select Equity	Pair Corr
0.77	LTMIX	Thornburg Limited Term	Pair Corr
0.63	JRODX	J Hancock Ii	Pair Corr

Moving against Bny Fund

0.66	FEN	First Trust Energy	Pair Corr
0.57	TTP	Tortoise Pipeline And	Pair Corr
0.51	TWN	Taiwan Closed	Pair Corr
0.43	SSAGX	Virtus Seix Government	Pair Corr
0.41	LFRIX	Floating Rate	Pair Corr

Related Correlations Analysis

	THQ	FFC	FLC	CCD	BCX	MPV	NIE	RFI	CBH	FRA
THQ		0.58	0.47	-0.06	0.81	-0.45	-0.42	0.76	-0.68	-0.29	THQ
FFC	0.58		0.83	0.2	0.46	0.1	0.1	0.19	-0.1	-0.29	FFC
FLC	0.47	0.83		0.38	0.25	0.23	0.14	-0.01	-0.02	-0.33	FLC
CCD	-0.06	0.2	0.38		-0.39	0.27	0.16	-0.43	0.12	-0.21	CCD
BCX	0.81	0.46	0.25	-0.39		-0.55	-0.33	0.77	-0.5	-0.29	BCX
MPV	-0.45	0.1	0.23	0.27	-0.55		0.42	-0.64	0.54	-0.06	MPV
NIE	-0.42	0.1	0.14	0.16	-0.33	0.42		-0.48	0.8	0.15	NIE
RFI	0.76	0.19	-0.01	-0.43	0.77	-0.64	-0.48		-0.78	0.15	RFI
CBH	-0.68	-0.1	-0.02	0.12	-0.5	0.54	0.8	-0.78		-0.13	CBH
FRA	-0.29	-0.29	-0.33	-0.21	-0.29	-0.06	0.15	0.15	-0.13		FRA
	THQ	FFC	FLC	CCD	BCX	MPV	NIE	RFI	CBH	FRA

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

FLC	+ 0.83	FFC
BCX	+ 0.81	THQ
CBH	+ 0.8	NIE
RFI	+ 0.77	BCX
RFI	+ 0.76	THQ
FFC	+ 0.58	THQ

High negative correlations

CBH	- 0.78	RFI
CBH	- 0.68	THQ
RFI	- 0.64	MPV
MPV	- 0.55	BCX
CBH	- 0.5	BCX
RFI	- 0.48	NIE

Risk-Adjusted Indicators

There is a big difference between Bny Fund performing well and Bny Mellon 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
THQ	0.94	(0.08)	0.00	(0.12)	0.00	0.00	1.60	(2.17)	5.19
FFC	0.51	(0.02)	0.00	(0.06)	0.00	0.00	1.30	(1.06)	3.10
FLC	0.46	0.00	0.00	0.00	0.00	0.00	1.03	(1.02)	2.46
CCD	0.69	(0.04)	0.00	(0.15)	0.00	0.00	1.54	(1.67)	4.87
BCX	0.79	(0.01)	(0.03)	0.00	1.06	(0.85)	1.54	(1.71)	4.80
MPV	0.72	(0.01)	0.00	0.07	0.00	0.00	1.70	(1.35)	9.74
NIE	0.70	0.12	0.08	0.46	0.93	(0.75)	1.53	(1.75)	5.31
RFI	0.83	(0.12)	0.00	(0.24)	0.00	0.00	1.49	(1.82)	5.46
CBH	0.13	0.04	0.00	(3.70)	0.00	(0.18)	0.22	(0.22)	0.78
FRA	0.57	(0.04)	0.00	(0.45)	0.00	0.00	1.12	(1.20)	3.28

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC