Bny Mellon Correlations

MPSSX Fund

USD 23.54 0.01 0.04%

The current 90-days correlation between Bny Mellon Small and Bbh Intermediate Municipal is 0.01 (i.e., Significant 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 Small and DJI is 0.88 (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 Small 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 Small. 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 state.

Moving together with Bny Mutual Fund

0.94	MPBLX	Bny Mellon Asset	Pair Corr
0.94	MPISX	Bny Mellon Income	Pair Corr
0.98	MPMCX	Bny Mellon Mid	Pair Corr
0.89	BMIIX	Bny Mellon Income	Pair Corr
0.94	BMIAX	Bny Mellon Income	Pair Corr
0.94	BMIYX	Bny Mellon Income	Pair Corr
0.89	BMISX	Bny Mellon Income	Pair Corr
0.93	MIBLX	Bny Mellon Asset	Pair Corr
0.94	MIISX	Bny Mellon Income	Pair Corr
0.98	MIMSX	Bny Mellon Mid	Pair Corr
1.0	MISCX	Bny Mellon Small	Pair Corr
0.98	VSGAX	Vanguard Small Cap	Pair Corr
0.98	VSGIX	Vanguard Small Cap	Pair Corr
0.98	VISGX	Vanguard Small Cap	Pair Corr
1.0	VEXPX	Vanguard Explorer	Pair Corr

Moving against Bny Mutual Fund

0.66	MIBDX	Bny Mellon Bond	Pair Corr
0.65	MPBFX	Bny Mellon Bond	Pair Corr
0.65	MPITX	Bny Mellon International	Pair Corr
0.65	MPIBX	Bny Mellon Intermediate	Pair Corr
0.44	BYMIX	Bny Mellon Porate	Pair Corr
0.43	BYMMX	Bny Mellon Porate	Pair Corr
0.4	MMBIX	Bny Mellon Massachusetts	Pair Corr
0.37	MMBMX	Bny Mellon Massachusetts	Pair Corr
0.37	MPNIX	Bny Mellon National	Pair Corr
0.34	MNYIX	Bny Mellon New	Pair Corr
0.34	MNYMX	Bny Mellon New	Pair Corr
0.65	MIINX	Bny Mellon International	Pair Corr
0.65	MIIDX	Bny Mellon Intermediate	Pair Corr
0.54	BTMPX	Ishares Msci Eafe	Pair Corr
0.54	BTMKX	Blackrock International	Pair Corr
0.54	MDIIX	Blackrock Intern Index	Pair Corr
0.4	MINMX	Bny Mellon National	Pair Corr
0.34	MIPAX	Bny Mellon Pennsylvania	Pair Corr
0.32	FMFFX	Fs Managed Futures	Pair Corr

Related Correlations Analysis

	BBINX	HHMAX	PRINX	MSTPX	GABTX	TWTIX	OKMUX	BCHIX
BBINX		0.99	0.86	0.94	-0.22	0.92	0.86	0.88	BBINX
HHMAX	0.99		0.86	0.95	-0.11	0.9	0.82	0.89	HHMAX
PRINX	0.86	0.86		0.87	-0.05	0.96	0.9	0.98	PRINX
MSTPX	0.94	0.95	0.87		-0.02	0.86	0.79	0.88	MSTPX
GABTX	-0.22	-0.11	-0.05	-0.02		-0.23	-0.38	-0.06	GABTX
TWTIX	0.92	0.9	0.96	0.86	-0.23		0.96	0.97	TWTIX
OKMUX	0.86	0.82	0.9	0.79	-0.38	0.96		0.89	OKMUX
BCHIX	0.88	0.89	0.98	0.88	-0.06	0.97	0.89		BCHIX
	BBINX	HHMAX	PRINX	MSTPX	GABTX	TWTIX	OKMUX	BCHIX

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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

HHMAX	+ 0.99	BBINX
BCHIX	+ 0.98	PRINX
BCHIX	+ 0.97	TWTIX
TWTIX	+ 0.96	PRINX
OKMUX	+ 0.96	TWTIX
MSTPX	+ 0.95	HHMAX

High negative correlations

OKMUX	- 0.38	GABTX
TWTIX	- 0.23	GABTX
GABTX	- 0.22	BBINX
GABTX	- 0.11	HHMAX
BCHIX	- 0.06	GABTX
GABTX	- 0.05	PRINX

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
BBINX	0.11	(0.01)	(0.43)	(0.13)	0.15	(0.19)	0.29	(0.29)	1.07
HHMAX	0.11	(0.01)	(0.37)	(0.07)	0.16	(0.19)	0.24	(0.24)	1.08
PRINX	0.16	0.02	(0.29)	(0.07)	0.22	(0.24)	0.44	(0.44)	1.59
MSTPX	0.11	0.00	(0.31)	0.06	0.15	(0.18)	0.30	(0.30)	1.10
GABTX	0.51	0.08	(0.07)	13.46	0.48	(0.58)	1.09	(1.00)	3.00
TWTIX	0.11	0.01	(0.38)	0.04	0.17	(0.18)	0.28	(0.28)	1.12
OKMUX	0.15	0.01	(0.24)	0.05	0.23	(0.27)	0.29	(0.47)	1.52
BCHIX	0.16	0.02	(0.26)	(0.09)	0.22	(0.22)	0.41	(0.40)	1.53

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