Bny Mellon Correlations

DMF Stock

USD 7.33 0.01 0.14%

The current 90-days correlation between Bny Mellon Municipalome and Blackrock Muniyield is 0.56 (i.e., Very weak 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.

Bny Mellon Correlation With Market

Good diversification

The correlation between Bny Mellon Municipalome and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bny Mellon Municipalome 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 Municipalome. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Bny Stock

0.62

RENEW

Cartesian Growth

Pair Corr

Moving against Bny Stock

0.51	SYF	Synchrony Financial	Pair Corr
0.48	ECPG	Encore Capital Group	Pair Corr
0.44	AXP	American Express Sell-off Trend	Pair Corr
0.43	ORGN	Origin Materials	Pair Corr
0.55	CODI	Compass Diversified	Pair Corr
0.54	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.46	BITF	Bitfarms	Pair Corr
0.45	SOFI	SoFi Technologies Aggressive Push	Pair Corr
0.39	AX	Axos Financial	Pair Corr
0.57	CM	Canadian Imperial Bank	Pair Corr
0.55	LC	LendingClub Corp Sell-off Trend	Pair Corr
0.45	BX	Blackstone Group Normal Trading	Pair Corr
0.44	CG	Carlyle Group Normal Trading	Pair Corr
0.44	KB	KB Financial Group	Pair Corr
0.34	BN	Brookfield Corp	Pair Corr

Related Correlations Analysis

	MYD	MUI	MQY	MYI	MUE	MHD	DTF	JHS	CXH	CBH
MYD		-0.64	0.89	0.89	0.94	0.95	0.84	0.43	0.87	0.0	MYD
MUI	-0.64		-0.58	-0.53	-0.56	-0.58	-0.57	-0.41	-0.62	0.0	MUI
MQY	0.89	-0.58		0.74	0.9	0.82	0.58	0.57	0.72	0.0	MQY
MYI	0.89	-0.53	0.74		0.89	0.88	0.79	0.35	0.87	0.0	MYI
MUE	0.94	-0.56	0.9	0.89		0.93	0.76	0.42	0.81	0.0	MUE
MHD	0.95	-0.58	0.82	0.88	0.93		0.81	0.26	0.8	0.0	MHD
DTF	0.84	-0.57	0.58	0.79	0.76	0.81		0.22	0.86	0.0	DTF
JHS	0.43	-0.41	0.57	0.35	0.42	0.26	0.22		0.48	0.0	JHS
CXH	0.87	-0.62	0.72	0.87	0.81	0.8	0.86	0.48		0.0	CXH
CBH	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		CBH
	MYD	MUI	MQY	MYI	MUE	MHD	DTF	JHS	CXH	CBH

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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

MHD	+ 0.95	MYD
MUE	+ 0.94	MYD
MHD	+ 0.93	MUE
MUE	+ 0.9	MQY
MQY	+ 0.89	MYD
MYI	+ 0.89	MYD

High negative correlations

MUI	- 0.64	MYD
CXH	- 0.62	MUI
MHD	- 0.58	MUI
MQY	- 0.58	MUI
DTF	- 0.57	MUI
MUE	- 0.56	MUI

Risk-Adjusted Indicators

There is a big difference between Bny Stock performing well and Bny Mellon Company 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
MYD	0.47	(0.04)	0.00	(0.30)	0.00	0.00	0.97	(1.06)	2.63
MUI	0.46	(0.03)	0.00	(0.30)	0.00	0.00	0.73	(1.40)	3.95
MQY	0.52	(0.06)	0.00	(0.30)	0.00	0.00	1.04	(1.18)	2.85
MYI	0.50	0.00	0.00	(0.06)	0.00	0.00	0.91	(1.08)	3.13
MUE	0.55	(0.03)	0.00	(0.20)	0.00	0.00	1.20	(1.25)	2.77
MHD	0.50	(0.03)	0.00	(0.32)	0.00	0.00	0.94	(1.03)	2.80
DTF	0.32	0.00	0.12	0.00	0.47	(0.31)	0.72	(0.62)	1.72
JHS	0.38	0.00	0.11	(0.06)	0.48	(0.40)	0.64	(0.91)	2.23
CXH	0.38	0.00	0.00	(0.11)	0.00	0.00	0.76	(1.00)	2.37
CBH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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