Bny Mellon Correlations

MIINX Fund

USD 14.63 0.04 0.27%

The current 90-days correlation between Bny Mellon International and Davenport Small Cap is 0.09 (i.e., Significant 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 International 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 International 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 International. 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 board of governors.

Moving together with Bny Mutual Fund

0.88	MPBFX	Bny Mellon Bond	Pair Corr
1.0	MPITX	Bny Mellon International	Pair Corr
0.9	MPIBX	Bny Mellon Intermediate	Pair Corr
0.77	BYMMX	Bny Mellon Porate	Pair Corr
0.76	BYMIX	Bny Mellon Porate	Pair Corr
0.92	MEMKX	Bny Mellon Emerging	Pair Corr
0.92	MIEGX	Bny Mellon Emerging	Pair Corr
0.82	MIIDX	Bny Mellon Intermediate	Pair Corr
0.98	DOXFX	Dodge Cox International	Pair Corr
0.97	OANIX	Oakmark International	Pair Corr
0.96	DODFX	Dodge International Stock	Pair Corr
0.94	OAKIX	Oakmark International	Pair Corr
0.94	OAYIX	Oakmark International	Pair Corr
0.95	OAZIX	Oakmark International	Pair Corr

Moving against Bny Mutual Fund

0.83	PYARX	Payden Absolute Return	Pair Corr
0.57	ANZAX	Allianzgi Convertible	Pair Corr
0.51	BCAAX	Brandywineglobal C	Pair Corr
0.5	BSCRX	Brandes Small Cap	Pair Corr

Related Correlations Analysis

	DSCPX	LCEAX	SIGWX	LIGFX	WMCVX	ADX	TBDQX
DSCPX		0.39	0.84	0.84	0.48	0.84	0.71	DSCPX
LCEAX	0.39		0.73	0.62	0.98	0.05	0.51	LCEAX
SIGWX	0.84	0.73		0.87	0.8	0.57	0.76	SIGWX
LIGFX	0.84	0.62	0.87		0.67	0.6	0.8	LIGFX
WMCVX	0.48	0.98	0.8	0.67		0.13	0.56	WMCVX
ADX	0.84	0.05	0.57	0.6	0.13		0.5	ADX
TBDQX	0.71	0.51	0.76	0.8	0.56	0.5		TBDQX
	DSCPX	LCEAX	SIGWX	LIGFX	WMCVX	ADX	TBDQX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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
DSCPX	0.75	0.00	0.00	(0.01)	0.94	(0.93)	1.69	(1.29)	8.87
LCEAX	0.63	(0.16)	0.00	(0.85)	0.00	0.00	1.01	(0.89)	12.28
SIGWX	0.79	(0.07)	0.00	(0.38)	0.00	0.00	1.43	(1.38)	9.10
LIGFX	0.27	(0.04)	0.00	(0.32)	0.00	0.00	0.50	(0.55)	2.03
WMCVX	1.05	(0.24)	0.00	(0.60)	0.00	0.00	1.48	(1.49)	21.12
ADX	0.64	0.05	0.05	(1.95)	0.80	(0.66)	1.20	(1.13)	4.89
TBDQX	1.00	(0.10)	0.00	0.52	0.00	0.00	1.47	(2.39)	13.56

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