BNY Mellon Correlations

BKCI Etf

USD 49.11 0.27 0.55%

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.

BNY Mellon Correlation With Market

Very weak diversification

The correlation between BNY Mellon ETF and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BNY Mellon ETF and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in BNY Mellon ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with BNY Etf

0.91	EFG	iShares MSCI EAFE	Pair Corr
0.86	VIGI	Vanguard International	Pair Corr
0.83	IHDG	WisdomTree International	Pair Corr
0.92	CGXU	Capital Group Intern	Pair Corr
0.92	DNL	WisdomTree Global	Pair Corr
0.72	FPXI	First Trust International	Pair Corr
0.8	IQDG	WisdomTree International	Pair Corr
0.87	PIZ	Invesco DWA Developed	Pair Corr
0.82	IDHQ	Invesco SP International	Pair Corr
0.67	MLPR	ETRACS Quarterly Pay	Pair Corr
0.64	AMZA	InfraCap MLP ETF	Pair Corr
0.64	T	ATT Inc Earnings Call This Week	Pair Corr
0.72	GE	GE Aerospace	Pair Corr
0.66	CSCO	Cisco Systems	Pair Corr
0.69	MMM	3M Company	Pair Corr
0.65	DD	Dupont De Nemours	Pair Corr

Moving against BNY Etf

0.32	USD	ProShares Ultra Semi	Pair Corr
0.58	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	BKIS	ASFZ	BKES	BNGE	ABSSF
BKIS		0.0	0.0	0.0	0.0	BKIS
ASFZ	0.0		0.0	0.0	0.0	ASFZ
BKES	0.0	0.0		0.0	0.0	BKES
BNGE	0.0	0.0	0.0		0.37	BNGE
ABSSF	0.0	0.0	0.0	0.37		ABSSF
	BKIS	ASFZ	BKES	BNGE	ABSSF

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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

ABSSF	+ 0.37	BNGE
ASFZ	+ 0.0	BKIS
BKES	+ 0.0	BKIS
BNGE	+ 0.0	BKIS
ABSSF	+ 0.0	BKIS
BKES	+ 0.0	ASFZ

High negative correlations

ABSSF	- 0.0	BKES
BNGE	- 0.0	BKES
ABSSF	- 0.0	ASFZ
BNGE	- 0.0	ASFZ
BKES	- 0.0	ASFZ
ABSSF	- 0.0	BKIS

BNY Mellon Constituents Risk-Adjusted Indicators

There is a big difference between BNY Etf performing well and BNY Mellon ETF 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
BKIS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ASFZ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BKES	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BNGE	1.00	0.12	0.09	0.08	1.38	(1.02)	2.04	(1.88)	6.40
ABSSF	1.69	(0.06)	0.00	(0.40)	0.00	0.00	7.06	(5.11)	19.92

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