Bny Mellon Correlations

MIBLX Fund

USD 14.52 0.01 0.07%

The current 90-days correlation between Bny Mellon Asset and Gmo High Yield is 0.67 (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

Very poor diversification

The correlation between Bny Mellon Asset and DJI is 0.83 (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 Asset and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Bny Mellon Asset. 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 bureau of economic analysis.

Moving together with Bny Mutual Fund

1.0	MPBLX	Bny Mellon Asset	Pair Corr
0.92	MPISX	Bny Mellon Income	Pair Corr
0.93	MPMCX	Bny Mellon Mid	Pair Corr
0.93	MPSSX	Bny Mellon Small	Pair Corr
0.88	BMIIX	Bny Mellon Income	Pair Corr
0.92	BMIAX	Bny Mellon Income	Pair Corr
0.92	BMIYX	Bny Mellon Income	Pair Corr
0.88	BMISX	Bny Mellon Income	Pair Corr
0.93	MIISX	Bny Mellon Income	Pair Corr
0.93	MIMSX	Bny Mellon Mid	Pair Corr
0.93	MISCX	Bny Mellon Small	Pair Corr
0.9	FBONX	American Funds American	Pair Corr
0.9	FBAFX	American Funds American	Pair Corr
0.97	ABALX	American Balanced	Pair Corr
0.97	BALCX	American Balanced	Pair Corr

Moving against Bny Mutual Fund

0.57	MIBDX	Bny Mellon Bond	Pair Corr
0.56	MPBFX	Bny Mellon Bond	Pair Corr
0.54	MPITX	Bny Mellon International	Pair Corr
0.54	MPIBX	Bny Mellon Intermediate	Pair Corr
0.54	MIINX	Bny Mellon International	Pair Corr
0.54	MIIDX	Bny Mellon Intermediate	Pair Corr

Related Correlations Analysis

	GMOZX	BHYRX	PHYZX	PHYSX	PHYPX	PHYQX
GMOZX		0.91	0.91	0.83	0.89	0.88	GMOZX
BHYRX	0.91		0.94	0.83	0.87	0.9	BHYRX
PHYZX	0.91	0.94		0.83	0.93	0.97	PHYZX
PHYSX	0.83	0.83	0.83		0.93	0.84	PHYSX
PHYPX	0.89	0.87	0.93	0.93		0.93	PHYPX
PHYQX	0.88	0.9	0.97	0.84	0.93		PHYQX
	GMOZX	BHYRX	PHYZX	PHYSX	PHYPX	PHYQX

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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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GMOZX	0.13	0.00	(0.51)	0.14	(0.17)	0.28	(0.33)	0.72
BHYRX	0.11	0.01	(0.55)	0.21	(0.22)	0.28	(0.28)	0.85
PHYZX	0.12	0.02	(0.46)	1.08	(0.29)	0.42	(0.21)	0.63
PHYSX	0.11	0.01	(0.45)	0.29	(0.16)	0.22	(0.22)	0.78
PHYPX	0.10	0.01	(0.57)	0.25	(0.15)	0.23	(0.23)	0.68
PHYQX	0.12	0.02	(0.46)	(1.23)	(0.29)	0.42	(0.21)	0.63

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