Bny Mellon Correlations

MIEGX Fund

USD 10.36 0.08 0.77%

The current 90-days correlation between Bny Mellon Emerging and Strategic Allocation Servative is -0.15 (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

Significant diversification

The correlation between Bny Mellon Emerging 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 Emerging and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Bny Mellon Emerging. 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 price.

Moving together with Bny Mutual Fund

0.78	MPBFX	Bny Mellon Bond	Pair Corr
0.91	MPITX	Bny Mellon International	Pair Corr
0.81	MPIBX	Bny Mellon Intermediate	Pair Corr
0.64	BYMMX	Bny Mellon Porate	Pair Corr
0.63	BYMIX	Bny Mellon Porate	Pair Corr
1.0	MEMKX	Bny Mellon Emerging	Pair Corr
0.92	MIINX	Bny Mellon International	Pair Corr
0.77	MIIDX	Bny Mellon Intermediate	Pair Corr
0.94	VEMAX	Vanguard Emerging Markets	Pair Corr
0.97	VEIEX	Vanguard Emerging Markets	Pair Corr
0.97	VEMIX	Vanguard Emerging Markets	Pair Corr
0.96	VEMRX	Vanguard Emerging Markets	Pair Corr
0.89	FWWNX	American Funds New	Pair Corr

Moving against Bny Mutual Fund

0.49	MIBLX	Bny Mellon Asset	Pair Corr
0.31	MPBLX	Bny Mellon Asset	Pair Corr
0.75	VFIAX	Vanguard 500 Index	Pair Corr
0.74	VITSX	Vanguard Total Stock	Pair Corr
0.67	VSTSX	Vanguard Total Stock	Pair Corr
0.67	VSMPX	Vanguard Total Stock	Pair Corr
0.66	VFFSX	Vanguard 500 Index	Pair Corr

Related Correlations Analysis

	ACCIX	WIMVX	RHSAX	MAMOX	TFCCX	OWLSX
ACCIX		0.68	0.42	0.89	0.57	0.87	ACCIX
WIMVX	0.68		0.27	0.62	0.77	0.59	WIMVX
RHSAX	0.42	0.27		0.48	0.49	0.7	RHSAX
MAMOX	0.89	0.62	0.48		0.44	0.83	MAMOX
TFCCX	0.57	0.77	0.49	0.44		0.64	TFCCX
OWLSX	0.87	0.59	0.7	0.83	0.64		OWLSX
	ACCIX	WIMVX	RHSAX	MAMOX	TFCCX	OWLSX

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ACCIX	0.34	(0.11)	2.02	0.52	(0.52)	5.45
WIMVX	0.62	(0.11)	(0.56)	1.10	(1.51)	6.04
RHSAX	0.97	(0.02)	(0.52)	1.67	(2.01)	9.75
MAMOX	0.49	(0.14)	(1.22)	0.56	(0.99)	5.96
TFCCX	0.53	(0.03)	(0.25)	0.90	(0.83)	5.58
OWLSX	0.55	(0.06)	(1.67)	0.82	(1.18)	7.37

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