Bny Mellon Correlations

MIEGX Fund

USD 10.54 0.06 0.57%

The current 90-days correlation between Bny Mellon Emerging and Calvert High Yield is -0.06 (i.e., Good 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 Emerging and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bny Mellon Emerging 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 Emerging. 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 price.

Moving together with Bny Mutual Fund

0.92	VEMAX	Vanguard Emerging Markets	Pair Corr
0.92	VEIEX	Vanguard Emerging Markets	Pair Corr
0.91	VEMIX	Vanguard Emerging Markets	Pair Corr
0.91	VEMRX	Vanguard Emerging Markets	Pair Corr
0.94	FWWNX	American Funds New	Pair Corr
0.94	FNFWX	American Funds New	Pair Corr
0.94	NEWFX	New World Fund	Pair Corr
0.94	NWFFX	New World Fund	Pair Corr
0.94	NEWCX	New World Fund	Pair Corr
0.93	ODVYX	Oppenheimer Developing	Pair Corr
0.68	RYMEX	Commodities Strategy	Pair Corr
0.68	RYMJX	Commodities Strategy	Pair Corr
0.68	RYMBX	Commodities Strategy	Pair Corr
0.68	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr

Moving against Bny Mutual Fund

0.56	XGEIX	Guggenheim Energy Income	Pair Corr
0.4	PG	Procter Gamble Sell-off Trend	Pair Corr
0.39	JPM	JPMorgan Chase Sell-off Trend	Pair Corr

Related Correlations Analysis

	CYBAX	AGDAX	WAHSX	MWHIX	GGMPX	LBETX
CYBAX		0.93	0.92	0.83	0.93	0.65	CYBAX
AGDAX	0.93		0.99	0.82	0.91	0.78	AGDAX
WAHSX	0.92	0.99		0.79	0.89	0.77	WAHSX
MWHIX	0.83	0.82	0.79		0.93	0.34	MWHIX
GGMPX	0.93	0.91	0.89	0.93		0.53	GGMPX
LBETX	0.65	0.78	0.77	0.34	0.53		LBETX
	CYBAX	AGDAX	WAHSX	MWHIX	GGMPX	LBETX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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
CYBAX	0.10	0.00	(0.88)	0.21	0.00	(0.13)	0.24	(0.16)	0.73
AGDAX	0.12	0.02	(0.49)	0.52	0.00	(0.24)	0.29	(0.28)	0.87
WAHSX	0.13	0.02	(0.54)	0.58	0.00	(0.24)	0.43	(0.14)	0.86
MWHIX	0.10	0.01	(0.77)	1.23	0.00	(0.19)	0.22	(0.21)	0.65
GGMPX	0.12	0.01	(0.47)	0.29	0.00	(0.26)	0.35	(0.18)	1.07
LBETX	0.22	0.00	(0.23)	0.12	0.21	(0.26)	0.45	(0.52)	1.42

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC