Bny Mellon Correlations

DSM Fund

USD 6.14 0.08 1.32%

The current 90-days correlation between Bny Mellon Strategic and Western Asset Managed is 0.68 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bny Mellon moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bny Mellon Strategic moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Bny Mellon Correlation With Market

Good diversification

The correlation between Bny Mellon Strategic and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bny Mellon Strategic 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 Strategic. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Bny Fund

0.75	FFC	Flaherty Crumrine	Pair Corr
0.7	NUV	Nuveen Municipal Value	Pair Corr
0.72	VMLUX	Vanguard Limited Term	Pair Corr

Moving against Bny Fund

0.59	CLM	Cornerstone Strategic	Pair Corr
0.53	PTY	Pimco Corporate Income	Pair Corr
0.52	BFTHX	Baron Fifth Avenue	Pair Corr
0.47	CSQ	Calamos Strategic Total	Pair Corr
0.44	VIMAX	Vanguard Mid Cap	Pair Corr
0.42	PREIX	T Rowe Price	Pair Corr
0.42	VFINX	Vanguard 500 Index	Pair Corr
0.42	CGFFX	Growth Fund	Pair Corr
0.39	PRDSX	T Rowe Price	Pair Corr
0.36	TBDQX	Pgim Jennison Diversified	Pair Corr
0.33	CHI	Calamos Convertible	Pair Corr
0.33	RNGHX	New Economy Fund	Pair Corr
0.31	FBALX	Fidelity Balanced	Pair Corr
0.54	FIKHX	Fidelity Advisor Tec	Pair Corr
0.53	SMAPX	Salient Mlp Energy	Pair Corr
0.52	FSRFX	Transportation Portfolio	Pair Corr
0.51	PRMTX	T Rowe Price	Pair Corr
0.47	AMGOX	Alger Mid Cap	Pair Corr
0.47	VIGAX	Vanguard Growth Index	Pair Corr
0.47	GCPYX	Gateway Equity Call	Pair Corr
0.46	AMEIX	Equity Growth	Pair Corr
0.45	MUTHX	Franklin Mutual Shares	Pair Corr
0.44	RYRUX	Russell 2000 2x Steady Growth	Pair Corr

Related Correlations Analysis

	MMU	MUE	DTF	JHS	NXN	NMT	FRRPF	EEA	CMU	CXH
MMU		0.63	-0.03	0.65	0.56	-0.36	-0.69	0.67	0.78	0.65	MMU
MUE	0.63		0.41	0.22	0.41	0.16	-0.18	0.07	0.79	0.82	MUE
DTF	-0.03	0.41		-0.27	0.19	0.49	0.37	-0.52	0.17	0.44	DTF
JHS	0.65	0.22	-0.27		0.45	-0.33	-0.56	0.67	0.48	0.24	JHS
NXN	0.56	0.41	0.19	0.45		0.14	-0.19	0.38	0.66	0.53	NXN
NMT	-0.36	0.16	0.49	-0.33	0.14		0.89	-0.73	0.14	0.28	NMT
FRRPF	-0.69	-0.18	0.37	-0.56	-0.19	0.89		-0.86	-0.25	-0.07	FRRPF
EEA	0.67	0.07	-0.52	0.67	0.38	-0.73	-0.86		0.29	0.04	EEA
CMU	0.78	0.79	0.17	0.48	0.66	0.14	-0.25	0.29		0.86	CMU
CXH	0.65	0.82	0.44	0.24	0.53	0.28	-0.07	0.04	0.86		CXH
	MMU	MUE	DTF	JHS	NXN	NMT	FRRPF	EEA	CMU	CXH

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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

FRRPF	+ 0.89	NMT
CXH	+ 0.86	CMU
CXH	+ 0.82	MUE
CMU	+ 0.79	MUE
CMU	+ 0.78	MMU
EEA	+ 0.67	MMU

High negative correlations

EEA	- 0.86	FRRPF
EEA	- 0.73	NMT
FRRPF	- 0.69	MMU
FRRPF	- 0.56	JHS
EEA	- 0.52	DTF
NMT	- 0.36	MMU

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
MMU	0.40	0.01	(0.21)	(2.07)	0.50	(0.42)	0.77	(0.87)	2.06
MUE	0.42	0.07	(0.10)	(4.86)	0.49	(0.45)	0.86	(0.77)	2.53
DTF	0.23	0.01	(0.39)	(0.07)	0.23	(0.28)	0.54	(0.36)	1.96
JHS	0.30	(0.03)	(0.29)	(0.05)	0.42	(0.33)	0.78	(0.61)	3.04
NXN	0.33	0.02	(0.23)	(1.12)	0.37	(0.39)	0.75	(0.59)	2.08
NMT	0.41	0.09	(0.06)	(2.04)	0.49	(0.44)	1.03	(0.85)	3.33
FRRPF	1.19	0.31	0.05	1.83	1.66	(2.12)	3.09	(2.65)	14.36
EEA	0.66	(0.14)	0.00	(1.32)	0.00	0.00	1.12	(1.70)	4.08
CMU	0.41	0.07	(0.12)	(0.35)	0.41	(0.54)	1.11	(0.84)	2.54
CXH	0.34	0.05	(0.17)	(0.24)	0.40	(0.38)	0.86	(0.74)	2.10

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