Bny Mellon Correlations

MPITX Fund

USD 14.09 0.03 0.21%

The current 90-days correlation between Bny Mellon International and Prudential High Yield is 0.18 (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

Good diversification

The correlation between Bny Mellon International and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bny Mellon International 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 International. 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 estimate.

Moving together with Bny Mutual Fund

0.81	MPBFX	Bny Mellon Bond	Pair Corr
0.81	MPIBX	Bny Mellon Intermediate	Pair Corr
0.67	BYMMX	Bny Mellon Porate	Pair Corr
0.69	BYMIX	Bny Mellon Porate	Pair Corr
0.82	MIBDX	Bny Mellon Bond	Pair Corr
0.94	MIINX	Bny Mellon International	Pair Corr
0.81	MIIDX	Bny Mellon Intermediate	Pair Corr
0.68	VGTSX	Vanguard Total Inter	Pair Corr
0.68	VTIAX	Vanguard Total Inter	Pair Corr
0.68	VTSNX	Vanguard Total Inter	Pair Corr
0.68	VTPSX	Vanguard Total Inter	Pair Corr

Moving against Bny Mutual Fund

0.72	MPISX	Bny Mellon Income	Pair Corr
0.72	MPMCX	Bny Mellon Mid	Pair Corr
0.72	BMIIX	Bny Mellon Income	Pair Corr
0.72	BMIAX	Bny Mellon Income	Pair Corr
0.72	BMIYX	Bny Mellon Income	Pair Corr
0.71	BMISX	Bny Mellon Income	Pair Corr
0.58	MPSSX	Bny Mellon Small	Pair Corr
0.52	MPBLX	Bny Mellon Asset	Pair Corr
0.52	MIBLX	Bny Mellon Asset	Pair Corr
0.85	XPPRX	Voya Prime Rate	Pair Corr
0.72	MIISX	Bny Mellon Income	Pair Corr
0.72	MIMSX	Bny Mellon Mid	Pair Corr
0.6	XNKGX	Nuveen Georgia Quality	Pair Corr
0.6	PCF	Putnam High Income	Pair Corr
0.58	MISCX	Bny Mellon Small	Pair Corr
0.35	PFN	Pimco Income Strategy	Pair Corr

Related Correlations Analysis

	PHYZX	PGHCX	LHYOX	NMHYX	ACHFX	MRHYX
PHYZX		0.98	0.98	0.96	0.98	0.91	PHYZX
PGHCX	0.98		0.99	0.97	0.98	0.95	PGHCX
LHYOX	0.98	0.99		0.97	0.98	0.95	LHYOX
NMHYX	0.96	0.97	0.97		0.96	0.97	NMHYX
ACHFX	0.98	0.98	0.98	0.96		0.92	ACHFX
MRHYX	0.91	0.95	0.95	0.97	0.92		MRHYX
	PHYZX	PGHCX	LHYOX	NMHYX	ACHFX	MRHYX

Click cells to compare fundamentals

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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
PHYZX	0.12	0.02	(0.46)	(1.20)	(0.29)	0.42	(0.21)	0.63
PGHCX	0.13	0.03	(0.34)	(0.99)	(0.34)	0.53	(0.26)	0.80
LHYOX	0.13	0.03	(0.46)	21.61	(0.21)	0.31	(0.16)	0.93
NMHYX	0.09	0.02	(0.64)	1.52	(0.16)	0.24	(0.12)	0.48
ACHFX	0.13	0.02	(0.55)	(0.94)	(0.21)	0.35	(0.23)	0.93
MRHYX	0.09	0.03	(0.64)	6.24	(0.14)	0.23	(0.12)	0.59

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