Bny Mellon Correlations

MNYMX Fund

USD 10.56 0.02 0.19%

The current 90-days correlation between Bny Mellon New and Bny Mellon Massachusetts is 0.97 (i.e., Almost no 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 good diversification

The correlation between Bny Mellon New and DJI is -0.28 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bny Mellon New 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 New. 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 population.

Moving together with Bny Mutual Fund

0.99	MMBIX	Bny Mellon Massachusetts	Pair Corr
1.0	MMBMX	Bny Mellon Massachusetts	Pair Corr
1.0	MNYIX	Bny Mellon New	Pair Corr
0.96	MOTIX	Bny Mellon Municipal	Pair Corr
0.94	MOTMX	Bny Mellon Municipal	Pair Corr
0.77	MPBFX	Bny Mellon Bond	Pair Corr
0.75	MPIBX	Bny Mellon Intermediate	Pair Corr
1.0	MPNIX	Bny Mellon National	Pair Corr
0.93	MPPIX	Bny Mellon Pennsylvania	Pair Corr
0.61	MPSUX	Bny Mellon Short	Pair Corr
0.85	MPSTX	Bny Mellon National	Pair Corr
0.82	BYMMX	Bny Mellon Porate	Pair Corr
0.82	BYMIX	Bny Mellon Porate	Pair Corr
0.76	MIBDX	Bny Mellon Bond	Pair Corr
0.75	MIIDX	Bny Mellon Intermediate	Pair Corr
0.99	MINMX	Bny Mellon National	Pair Corr
0.99	MIPAX	Bny Mellon Pennsylvania	Pair Corr
0.87	MINSX	Bny Mellon National	Pair Corr
0.99	FKNRX	Franklin New York	Pair Corr
1.0	FNYZX	Franklin New York	Pair Corr
0.65	DRNYX	Dreyfus New York	Pair Corr
0.99	FKNQX	Franklin New York	Pair Corr

Moving against Bny Mutual Fund

0.34	MPISX	Bny Mellon Income	Pair Corr
0.34	BMIIX	Bny Mellon Income	Pair Corr
0.34	BMIAX	Bny Mellon Income	Pair Corr
0.34	BMIYX	Bny Mellon Income	Pair Corr
0.34	BMISX	Bny Mellon Income	Pair Corr
0.68	LETRX	Voya Russia Fund	Pair Corr
0.41	KSCYX	Kinetics Small Cap	Pair Corr
0.41	KSOCX	Kinetics Small Cap	Pair Corr
0.4	KNPCX	Kinetics Paradigm	Pair Corr
0.39	KSCOX	Kinetics Small Cap	Pair Corr
0.39	KMKCX	Kinetics Market Oppo	Pair Corr
0.38	LSHUX	Horizon Spin Off	Pair Corr
0.36	KINCX	Kinetics Internet	Pair Corr
0.33	MIISX	Bny Mellon Income	Pair Corr

Related Correlations Analysis

	MMBIX	MMBMX	MNYIX	MNYMX	MOTIX	MOTMX	MPBFX	MPBLX	MPITX	MPIBX
MMBIX		1.0	0.99	0.99	0.94	0.92	0.81	-0.23	0.54	0.8	MMBIX
MMBMX	1.0		1.0	1.0	0.95	0.93	0.79	-0.18	0.51	0.78	MMBMX
MNYIX	0.99	1.0		1.0	0.95	0.93	0.78	-0.16	0.5	0.76	MNYIX
MNYMX	0.99	1.0	1.0		0.96	0.94	0.77	-0.17	0.49	0.75	MNYMX
MOTIX	0.94	0.95	0.95	0.96		0.99	0.61	0.03	0.26	0.59	MOTIX
MOTMX	0.92	0.93	0.93	0.94	0.99		0.56	0.07	0.2	0.54	MOTMX
MPBFX	0.81	0.79	0.78	0.77	0.61	0.56		-0.56	0.82	0.96	MPBFX
MPBLX	-0.23	-0.18	-0.16	-0.17	0.03	0.07	-0.56		-0.56	-0.53	MPBLX
MPITX	0.54	0.51	0.5	0.49	0.26	0.2	0.82	-0.56		0.83	MPITX
MPIBX	0.8	0.78	0.76	0.75	0.59	0.54	0.96	-0.53	0.83		MPIBX
	MMBIX	MMBMX	MNYIX	MNYMX	MOTIX	MOTMX	MPBFX	MPBLX	MPITX	MPIBX

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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

MMBMX	+ 1.0	MMBIX
MNYIX	+ 1.0	MMBMX
MNYMX	+ 1.0	MMBMX
MNYMX	+ 1.0	MNYIX
MNYIX	+ 0.99	MMBIX
MNYMX	+ 0.99	MMBIX

High negative correlations

MPITX	- 0.56	MPBLX
MPBLX	- 0.56	MPBFX
MPIBX	- 0.53	MPBLX
MPBLX	- 0.23	MMBIX
MPBLX	- 0.18	MMBMX
MPBLX	- 0.17	MNYMX

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
MMBIX	0.13	0.01	(0.34)	(0.06)	0.17	(0.17)	0.25	(0.32)	1.22
MMBMX	0.12	0.01	(0.34)	(0.05)	0.15	(0.18)	0.25	(0.25)	1.14
MNYIX	0.13	0.01	(0.32)	(0.06)	0.16	(0.18)	0.29	(0.29)	1.24
MNYMX	0.13	0.01	(0.33)	(0.08)	0.17	(0.16)	0.28	(0.29)	1.15
MOTIX	0.15	0.02	(0.28)	(0.15)	0.16	(0.20)	0.32	(0.32)	1.36
MOTMX	0.15	0.03	(0.23)	(0.16)	0.18	(0.20)	0.32	(0.32)	1.44
MPBFX	0.24	(0.01)	0.00	0.31	0.00	0.00	0.45	(0.55)	1.38
MPBLX	0.38	0.00	(0.09)	0.11	0.43	(0.40)	0.74	(0.92)	2.51
MPITX	0.66	(0.14)	0.00	(0.26)	0.00	0.00	1.06	(1.44)	3.81
MPIBX	0.15	(0.02)	0.00	(0.40)	0.00	0.00	0.25	(0.25)	0.92

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