Bny Mellon Correlations

BYSIX Fund

9.77 0.02 0.21%

The current 90-days correlation between Bny Mellon Short and Legg Mason Partners is -0.03 (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

Average diversification

The correlation between Bny Mellon Short and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bny Mellon Short 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 Short. 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 gross domestic product.

Moving together with Bny Mutual Fund

0.76	DHGCX	Dreyfusstandish Global	Pair Corr
0.77	DHGAX	Dreyfusstandish Global	Pair Corr
0.66	DHMBX	Dreyfus High Yield	Pair Corr
0.65	DHYAX	Dreyfus High Yield	Pair Corr
0.62	DZNJX	Dreyfus New Jersey	Pair Corr
0.81	DIBCX	Dreyfus International	Pair Corr
0.81	DIBAX	Dreyfus International	Pair Corr
0.7	DIECX	Dreyfus International	Pair Corr
0.92	DIEAX	Dreyfus International	Pair Corr
0.69	DIISX	Dreyfus International	Pair Corr
0.83	DITEX	Dreyfus Intermediate	Pair Corr
0.75	DMBAX	Dreyfus Short Interm	Pair Corr
0.69	DMBZX	Dreyfus Municipal Bond	Pair Corr
0.64	DPLTX	Dreyfus High Yield	Pair Corr
1.0	BYSYX	Bny Mellon Short	Pair Corr
1.0	BYSAX	Bny Mellon Short	Pair Corr

Moving against Bny Mutual Fund

0.72	DISIX	Dreyfus Smallcap Stock	Pair Corr
0.6	DLDCX	Dreyfus Natural Resources	Pair Corr
0.62	DREVX	Dreyfus Fund	Pair Corr
0.59	DNLAX	Dreyfus Natural Resources	Pair Corr
0.5	DNLCX	Dreyfus Active Midcap	Pair Corr
0.49	DNLDX	Dreyfus Active Midcap	Pair Corr
0.46	DMCVX	Dreyfus Opportunistic	Pair Corr
0.46	AVGCX	Dynamic Total Return	Pair Corr
0.46	DQICX	Dreyfus Equity Income	Pair Corr
0.45	DQIAX	Dreyfus Equity Income	Pair Corr
0.44	AVGAX	Dynamic Total Return	Pair Corr
0.31	DPTAX	Dreyfus Tax Managed	Pair Corr

Related Correlations Analysis

	QLMYIX	MFIRX	DODWX	DBLGX	ANAGX	WRLDX	DBIWX	MSTGX
QLMYIX		0.96	0.66	0.84	0.88	0.9	0.97	0.97	QLMYIX
MFIRX	0.96		0.59	0.89	0.92	0.83	0.9	0.96	MFIRX
DODWX	0.66	0.59		0.68	0.63	0.79	0.72	0.68	DODWX
DBLGX	0.84	0.89	0.68		0.85	0.74	0.79	0.9	DBLGX
ANAGX	0.88	0.92	0.63	0.85		0.8	0.85	0.86	ANAGX
WRLDX	0.9	0.83	0.79	0.74	0.8		0.93	0.9	WRLDX
DBIWX	0.97	0.9	0.72	0.79	0.85	0.93		0.95	DBIWX
MSTGX	0.97	0.96	0.68	0.9	0.86	0.9	0.95		MSTGX
	QLMYIX	MFIRX	DODWX	DBLGX	ANAGX	WRLDX	DBIWX	MSTGX

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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
QLMYIX	0.14	0.01	0.30	(0.33)	0.05	(0.21)	0.33	(0.33)	0.99
MFIRX	0.11	0.01	0.29	(0.47)	0.00	(0.21)	0.19	(0.19)	0.77
DODWX	0.83	(0.07)	0.00	(0.17)	0.00	0.00	1.28	(1.11)	13.09
DBLGX	0.22	0.01	0.26	0.19	0.19	(0.30)	0.48	(0.36)	1.21
ANAGX	0.19	(0.01)	0.21	0.29	0.21	(0.27)	0.44	(0.44)	1.46
WRLDX	0.64	(0.02)	0.06	0.09	0.95	(0.60)	1.24	(1.68)	2.96
DBIWX	0.26	0.01	0.18	(0.13)	0.34	(0.28)	0.48	(0.58)	1.77
MSTGX	0.31	0.04	0.23	(0.71)	0.34	(0.34)	0.74	(0.62)	1.58

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