BNY Mellon Correlations

BKDV Etf

25.71 0.04 0.16%

The current 90-days correlation between BNY Mellon ETF and Vanguard Value Index is 0.25 (i.e., Modest 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

Average diversification

The correlation between BNY Mellon ETF and DJI is 0.1 (i.e., Average 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 unemployment.

Moving together with BNY Etf

0.96	VTV	Vanguard Value Index	Pair Corr
0.9	VYM	Vanguard High Dividend	Pair Corr
0.96	IWD	iShares Russell 1000	Pair Corr
0.94	DGRO	iShares Core Dividend	Pair Corr
0.85	IVE	iShares SP 500	Pair Corr
0.86	DVY	iShares Select Dividend	Pair Corr
0.85	SPYV	SPDR Portfolio SP	Pair Corr
0.81	FVD	First Trust Value	Pair Corr
0.85	IUSV	iShares Core SP	Pair Corr
0.75	NOBL	ProShares SP 500 Low Volatility	Pair Corr
0.67	SMI	VanEck Vectors ETF	Pair Corr
0.62	GE	GE Aerospace	Pair Corr
0.68	HD	Home Depot	Pair Corr
0.66	JNJ	Johnson Johnson	Pair Corr
0.7	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.68	XOM	Exxon Mobil Corp	Pair Corr

Moving against BNY Etf

0.59

VXX

iPath Series B Low Volatility

Pair Corr

Related Correlations Analysis

	VTV	VYM	IWD	DGRO	IVE	DVY	SPYV	FVD	IUSV	NOBL
VTV		0.95	0.99	0.89	0.89	0.9	0.89	0.86	0.88	0.79	VTV
VYM	0.95		0.92	0.86	0.73	0.78	0.73	0.71	0.72	0.6	VYM
IWD	0.99	0.92		0.89	0.92	0.92	0.92	0.88	0.92	0.83	IWD
DGRO	0.89	0.86	0.89		0.82	0.82	0.82	0.82	0.82	0.75	DGRO
IVE	0.89	0.73	0.92	0.82		0.97	1.0	0.97	1.0	0.96	IVE
DVY	0.9	0.78	0.92	0.82	0.97		0.97	0.98	0.97	0.94	DVY
SPYV	0.89	0.73	0.92	0.82	1.0	0.97		0.97	1.0	0.96	SPYV
FVD	0.86	0.71	0.88	0.82	0.97	0.98	0.97		0.97	0.98	FVD
IUSV	0.88	0.72	0.92	0.82	1.0	0.97	1.0	0.97		0.96	IUSV
NOBL	0.79	0.6	0.83	0.75	0.96	0.94	0.96	0.98	0.96		NOBL
	VTV	VYM	IWD	DGRO	IVE	DVY	SPYV	FVD	IUSV	NOBL

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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
VTV	0.54	0.01	0.03	(0.01)	0.68	(0.60)	1.11	(1.01)	3.26
VYM	0.54	0.04	0.06	0.04	0.68	(0.59)	0.95	(0.95)	3.71
IWD	0.54	0.00	0.00	(0.02)	0.00	0.00	1.15	(1.00)	3.46
DGRO	0.51	0.01	0.05	(0.18)	0.63	(0.58)	1.00	(0.78)	3.77
IVE	0.50	(0.02)	0.00	(0.06)	0.00	0.00	1.00	(1.05)	3.11
DVY	0.58	(0.01)	0.00	(0.04)	0.00	0.00	1.22	(1.08)	3.89
SPYV	0.50	(0.02)	0.00	(0.06)	0.00	0.00	1.03	(1.00)	3.16
FVD	0.53	(0.01)	0.00	(0.04)	0.00	0.00	1.03	(0.87)	3.34
IUSV	0.50	(0.03)	0.00	(0.07)	0.00	0.00	0.91	(1.02)	3.28
NOBL	0.59	(0.02)	0.00	(0.06)	0.00	0.00	1.13	(1.00)	3.36

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