Bny Mellon Correlations

DCPIX Fund

USD 9.10 0.02 0.22%

The current 90-days correlation between Bny Mellon Insight and Dreyfusstandish Global Fixed is 0.88 (i.e., Very poor 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

Significant diversification

The correlation between Bny Mellon Insight and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bny Mellon Insight and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Bny Mellon Insight. 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

0.75	DHGCX	Dreyfusstandish Global	Pair Corr
0.7	DHGAX	Dreyfusstandish Global	Pair Corr
0.62	DHMBX	Dreyfus High Yield	Pair Corr
0.67	DHYCX	Dreyfus High Yield	Pair Corr
0.62	DHYAX	Dreyfus High Yield	Pair Corr
0.95	DIBCX	Dreyfus International	Pair Corr
0.95	DIBAX	Dreyfus International	Pair Corr
0.88	DIECX	Dreyfus International	Pair Corr
0.88	DIEAX	Dreyfus International	Pair Corr
0.88	DIISX	Dreyfus International	Pair Corr
0.84	DISCX	International Stock	Pair Corr
0.84	DISAX	International Stock	Pair Corr
0.75	DITEX	Dreyfus Intermediate	Pair Corr
0.68	DMBCX	Dreyfus Municipal Bond	Pair Corr
0.62	DMBAX	Dreyfus Short Interm	Pair Corr
0.67	DMUCX	Dreyfus Amt Free	Pair Corr
0.61	DMUAX	Dreyfus Amt Free	Pair Corr
0.61	DNYAX	Dnyax	Pair Corr
0.88	BYSIX	Bny Mellon Short	Pair Corr
0.86	BYSAX	Bny Mellon Short	Pair Corr
0.67	PNYCX	Dreyfus New York	Pair Corr

Moving against Bny Mutual Fund

0.34	DISSX	Dreyfus Smallcap Stock	Pair Corr
0.34	DISIX	Dreyfus Smallcap Stock	Pair Corr
0.35	DREVX	Dreyfus Fund	Pair Corr

Related Correlations Analysis

	DHGCX	DHGAX	DHMBX	DHYCX	DHYAX	DZNJX	DIBCX	DIBAX	DIECX	DIEAX
DHGCX		1.0	0.73	0.76	0.73	0.81	0.61	0.62	0.49	0.5	DHGCX
DHGAX	1.0		0.72	0.74	0.72	0.81	0.55	0.57	0.43	0.44	DHGAX
DHMBX	0.73	0.72		1.0	1.0	0.96	0.5	0.51	0.37	0.37	DHMBX
DHYCX	0.76	0.74	1.0		1.0	0.95	0.55	0.57	0.43	0.43	DHYCX
DHYAX	0.73	0.72	1.0	1.0		0.96	0.5	0.51	0.37	0.38	DHYAX
DZNJX	0.81	0.81	0.96	0.95	0.96		0.44	0.46	0.28	0.28	DZNJX
DIBCX	0.61	0.55	0.5	0.55	0.5	0.44		1.0	0.95	0.95	DIBCX
DIBAX	0.62	0.57	0.51	0.57	0.51	0.46	1.0		0.95	0.95	DIBAX
DIECX	0.49	0.43	0.37	0.43	0.37	0.28	0.95	0.95		1.0	DIECX
DIEAX	0.5	0.44	0.37	0.43	0.38	0.28	0.95	0.95	1.0		DIEAX
	DHGCX	DHGAX	DHMBX	DHYCX	DHYAX	DZNJX	DIBCX	DIBAX	DIECX	DIEAX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
DHGCX	0.15	(0.03)	(0.71)	0.31	(0.35)	0.96
DHGAX	0.16	(0.03)	(0.66)	0.34	(0.29)	0.98
DHMBX	0.25	(0.04)	0.75	0.45	(0.64)	2.20
DHYCX	0.26	(0.04)	0.79	0.54	(0.64)	2.18
DHYAX	0.26	(0.04)	0.70	0.45	(0.63)	2.19
DZNJX	0.19	(0.03)	0.68	0.34	(0.42)	1.61
DIBCX	0.36	(0.14)	(1.45)	0.59	(0.90)	3.84
DIBAX	0.36	(0.14)	(1.23)	0.61	(0.85)	4.01
DIECX	0.64	(0.17)	(0.50)	1.03	(1.43)	3.89
DIEAX	0.64	(0.16)	(0.49)	1.03	(1.42)	3.88

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC