Bny Mellon Correlations

DSM Fund

USD 5.89 0.06 1.03%

The current 90-days correlation between Bny Mellon Strategic and DWS Municipal Income is 0.01 (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 Strategic moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Bny Mellon Correlation With Market

Average diversification

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

Moving together with Bny Fund

0.85	NEA	Nuveen Amt Free	Pair Corr
0.84	NVG	Nuveen Amt Free	Pair Corr
0.82	NAD	Nuveen Dividend Advantage	Pair Corr
0.83	NZF	Nuveen Municipal Credit	Pair Corr
0.81	NAC	Nuveen California	Pair Corr
0.77	JELCX	Jhn Hk Cnsv	Pair Corr
0.81	FITZX	Franklin Federal Int	Pair Corr
0.71	SICIX	Saat Servative Strategy	Pair Corr
0.69	LCRVX	Lord Abbett E	Pair Corr
0.78	MYN	Blackrock Muniyield New	Pair Corr
0.68	FRSAX	Federated Floating Rate	Pair Corr
0.68	BIGCX	Blackrock Gov Bd	Pair Corr
0.67	JSTKX	Jpmorgan Smartretirement*	Pair Corr
0.8	BMICX	Blackrock Managed Income	Pair Corr
0.62	MBFAX	Total Return Bond	Pair Corr
0.74	PWRCX	Power Income	Pair Corr
0.62	MYICX	Mainstay International	Pair Corr
0.65	LIBAX	Columbia Total Return	Pair Corr
0.8	RNHIX	Rivernorthoaktree High	Pair Corr
0.62	PPFFX	American Funds Prese	Pair Corr
0.69	PFO	Flaherty Crumrine	Pair Corr
0.73	VWVUX	Tomorrows Scholar College	Pair Corr
0.64	VWTAX	Tomorrows Scholar College	Pair Corr
0.61	EGRAX	Eaton Vance Global	Pair Corr
0.64	USGNX	Government Securities	Pair Corr

Moving against Bny Fund

0.74	COSRX	Columbia Overseas	Pair Corr
0.36	TCHTX	Cleartrack 2020 Class	Pair Corr

Related Correlations Analysis

	KTF	MVF	IQI	MYD	MUI	MQY	MYI	MUE	MVT	CIK
KTF		0.81	0.84	0.88	-0.01	0.83	0.86	0.88	0.85	0.6	KTF
MVF	0.81		0.87	0.88	0.02	0.67	0.91	0.85	0.94	0.77	MVF
IQI	0.84	0.87		0.88	-0.17	0.7	0.87	0.8	0.94	0.77	IQI
MYD	0.88	0.88	0.88		-0.1	0.89	0.89	0.94	0.92	0.73	MYD
MUI	-0.01	0.02	-0.17	-0.1		-0.08	-0.02	0.04	-0.09	-0.02	MUI
MQY	0.83	0.67	0.7	0.89	-0.08		0.74	0.9	0.73	0.53	MQY
MYI	0.86	0.91	0.87	0.89	-0.02	0.74		0.89	0.91	0.7	MYI
MUE	0.88	0.85	0.8	0.94	0.04	0.9	0.89		0.87	0.68	MUE
MVT	0.85	0.94	0.94	0.92	-0.09	0.73	0.91	0.87		0.79	MVT
CIK	0.6	0.77	0.77	0.73	-0.02	0.53	0.7	0.68	0.79		CIK
	KTF	MVF	IQI	MYD	MUI	MQY	MYI	MUE	MVT	CIK

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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

MVT	+ 0.94	MVF
MVT	+ 0.94	IQI
MUE	+ 0.94	MYD
MVT	+ 0.92	MYD
MYI	+ 0.91	MVF
MVT	+ 0.91	MYI

High negative correlations

MUI	- 0.17	IQI
MUI	- 0.1	MYD
MVT	- 0.09	MUI
MQY	- 0.08	MUI
CIK	- 0.02	MUI
MYI	- 0.02	MUI

Risk-Adjusted Indicators

There is a big difference between Bny Fund performing well and Bny Mellon 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
KTF	0.36	(0.04)	0.00	(0.53)	0.00	0.00	0.75	(0.95)	2.76
MVF	0.49	0.01	0.10	0.01	0.63	(0.54)	1.12	(0.99)	3.98
IQI	0.48	0.00	0.00	(0.08)	0.00	0.00	1.24	(0.83)	2.53
MYD	0.47	(0.04)	0.00	(0.30)	0.00	0.00	0.97	(1.06)	2.63
MUI	0.40	0.00	0.00	(0.07)	0.00	0.00	0.58	(1.01)	3.07
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
MVT	0.51	0.03	0.11	0.05	0.62	(0.62)	0.95	(1.22)	3.47
CIK	0.58	0.02	0.08	0.02	0.73	(0.68)	1.41	(1.39)	4.21

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