Bny Mellon Correlations
| MPIBX Fund | USD 11.80 0.02 0.17% |
The current 90-days correlation between Bny Mellon Intermediate and Delaware Emerging Markets is 0.75 (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
Modest diversification
The correlation between Bny Mellon Intermediate and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bny Mellon Intermediate and DJI in the same portfolio, assuming nothing else is changed.
Bny |
Moving together with Bny Mutual Fund
| 0.77 | MMBIX | Bny Mellon Massachusetts | PairCorr |
| 0.77 | MMBMX | Bny Mellon Massachusetts | PairCorr |
| 0.76 | MNYIX | Bny Mellon New | PairCorr |
| 0.74 | MNYMX | Bny Mellon New | PairCorr |
| 0.73 | MOTIX | Bny Mellon Municipal | PairCorr |
| 0.71 | MOTMX | Bny Mellon Municipal | PairCorr |
| 0.95 | MPBFX | Bny Mellon Bond | PairCorr |
| 0.73 | MPITX | Bny Mellon International | PairCorr |
| 0.75 | MPNIX | Bny Mellon National | PairCorr |
| 0.73 | MPPIX | Bny Mellon Pennsylvania | PairCorr |
| 0.94 | BYMMX | Bny Mellon Porate | PairCorr |
| 0.95 | BYMIX | Bny Mellon Porate | PairCorr |
| 0.95 | MIBDX | Bny Mellon Bond | PairCorr |
| 0.73 | MIINX | Bny Mellon International | PairCorr |
| 1.0 | MIIDX | Bny Mellon Intermediate | PairCorr |
| 0.77 | MINMX | Bny Mellon National | PairCorr |
| 0.73 | MIPAX | Bny Mellon Pennsylvania | PairCorr |
| 0.63 | VBIRX | Vanguard Short Term | PairCorr |
Related Correlations Analysis
| 0.11 | 0.71 | 0.04 | 0.62 | -0.39 | DEDCX | ||
| 0.11 | 0.54 | -0.67 | -0.02 | 0.62 | BELSX | ||
| 0.71 | 0.54 | -0.18 | 0.54 | 0.17 | BXECX | ||
| 0.04 | -0.67 | -0.18 | 0.52 | -0.54 | EGLAX | ||
| 0.62 | -0.02 | 0.54 | 0.52 | -0.37 | RYAHX | ||
| -0.39 | 0.62 | 0.17 | -0.54 | -0.37 | RYACX | ||
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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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DEDCX | 0.11 | (0.02) | 0.00 | (0.44) | 0.00 | 0.26 | 0.78 | |||
| BELSX | 0.38 | (0.06) | 0.00 | (0.75) | 0.00 | 0.81 | 2.25 | |||
| BXECX | 0.20 | (0.04) | 0.00 | (0.79) | 0.00 | 0.54 | 1.46 | |||
| EGLAX | 0.88 | 0.22 | 0.17 | 0.56 | 1.02 | 1.98 | 5.90 | |||
| RYAHX | 1.06 | 0.02 | 0.01 | 0.05 | 1.47 | 2.17 | 12.01 | |||
| RYACX | 0.86 | (0.06) | 0.00 | 0.20 | 0.00 | 1.80 | 5.87 |