BNY Mellon Correlations

BKWO Etf

32.88 0.07 0.21%

The current 90-days correlation between BNY Mellon Womens and iShares Dividend and is 0.09 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as BNY Mellon moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BNY Mellon Womens moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

BNY Mellon Correlation With Market

Good diversification

The correlation between BNY Mellon Womens and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BNY Mellon Womens 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 Womens. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with BNY Etf

0.8	VTI	Vanguard Total Stock	Pair Corr
0.8	SPY	SPDR SP 500	Pair Corr
0.81	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.69	VIG	Vanguard Dividend	Pair Corr
0.81	VV	Vanguard Large Cap	Pair Corr
0.75	RSP	Invesco SP 500	Pair Corr
0.8	IWB	iShares Russell 1000	Pair Corr
0.81	ESGU	iShares ESG Aware	Pair Corr
0.81	DFAC	Dimensional Core Equity	Pair Corr
0.81	SPLG	SPDR Portfolio SP	Pair Corr
0.67	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.75	FNGO	MicroSectors FANG Index	Pair Corr
0.81	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.73	DUSL	Direxion Daily Indus	Pair Corr
0.74	BA	Boeing	Pair Corr
0.9	AXP	American Express Sell-off Trend	Pair Corr
0.83	DIS	Walt Disney	Pair Corr
0.86	HPQ	HP Inc	Pair Corr
0.72	JPM	JPMorgan Chase	Pair Corr
0.86	BAC	Bank of America Sell-off Trend	Pair Corr
0.77	WMT	Walmart Aggressive Push	Pair Corr
0.64	MSFT	Microsoft	Pair Corr

Moving against BNY Etf

0.43	KO	Coca Cola	Pair Corr
0.38	T	ATT Inc Earnings Call This Week	Pair Corr
0.36	MCD	McDonalds	Pair Corr
0.36	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Related Correlations Analysis

	DIVB	MCSE	MDCP	EV	GK	MJ	XT	METV	DMAT
DIVB		0.88	0.11	0.46	0.23	-0.15	0.79	0.54	0.17	DIVB
MCSE	0.88		-0.13	0.56	-0.06	-0.42	0.66	0.31	0.48	MCSE
MDCP	0.11	-0.13		-0.38	0.74	0.6	0.36	0.55	-0.36	MDCP
EV	0.46	0.56	-0.38		-0.14	-0.34	0.42	0.09	0.57	EV
GK	0.23	-0.06	0.74	-0.14		0.87	0.68	0.9	-0.55	GK
MJ	-0.15	-0.42	0.6	-0.34	0.87		0.35	0.68	-0.64	MJ
XT	0.79	0.66	0.36	0.42	0.68	0.35		0.88	0.0	XT
METV	0.54	0.31	0.55	0.09	0.9	0.68	0.88		-0.37	METV
DMAT	0.17	0.48	-0.36	0.57	-0.55	-0.64	0.0	-0.37		DMAT
	DIVB	MCSE	MDCP	EV	GK	MJ	XT	METV	DMAT

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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

METV	+ 0.9	GK
MCSE	+ 0.88	DIVB
METV	+ 0.88	XT
MJ	+ 0.87	GK
XT	+ 0.79	DIVB
GK	+ 0.74	MDCP

High negative correlations

DMAT	- 0.64	MJ
DMAT	- 0.55	GK
MJ	- 0.42	MCSE
EV	- 0.38	MDCP
DMAT	- 0.37	METV
DMAT	- 0.36	MDCP

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
DIVB	0.63	0.07	0.11	0.04	0.76	(0.67)	1.15	(1.20)	3.13
MCSE	0.91	0.12	0.11	0.08	1.11	(0.95)	2.52	(1.48)	6.39
MDCP	0.74	(0.02)	0.00	(0.10)	0.00	0.00	1.38	(1.42)	3.33
EV	0.88	0.02	0.06	(0.02)	1.02	(0.95)	1.69	(1.61)	4.29
GK	1.10	(0.09)	0.00	(0.17)	0.00	0.00	1.76	(2.42)	5.95
MJ	1.81	(0.37)	0.00	(0.44)	0.00	0.00	4.39	(4.18)	10.81
XT	0.85	0.02	0.00	(0.04)	0.00	0.00	1.44	(1.94)	5.19
METV	1.25	(0.01)	0.00	(0.08)	0.00	0.00	2.29	(2.33)	7.88
DMAT	1.06	0.16	0.16	0.47	1.10	(1.21)	1.90	(1.65)	6.28

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