BNY Mellon Correlations

BKCG Etf

34.76 0.31 0.90%

The current 90-days correlation between BNY Mellon ETF and FT Vest Equity is 0.94 (i.e., Almost no 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

Almost no diversification

The correlation between BNY Mellon ETF and DJI is 0.96 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BNY Mellon ETF and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with BNY Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in BNY Mellon ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with BNY Etf

0.99	VTI	Vanguard Total Stock	Pair Corr
0.99	SPY	SPDR SP 500	Pair Corr
0.99	IVV	iShares Core SP	Pair Corr
0.94	VTV	Vanguard Value Index	Pair Corr
0.99	VUG	Vanguard Growth Index	Pair Corr
0.98	VO	Vanguard Mid Cap	Pair Corr
0.95	VEA	Vanguard FTSE Developed	Pair Corr
0.97	VB	Vanguard Small Cap	Pair Corr
0.97	VWO	Vanguard FTSE Emerging	Pair Corr
0.99	ITDD	iShares Trust	Pair Corr
0.75	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.81	AA	Alcoa Corp	Pair Corr
0.76	DD	Dupont De Nemours	Pair Corr
0.89	MMM	3M Company	Pair Corr
0.98	GE	GE Aerospace	Pair Corr
0.97	AXP	American Express	Pair Corr
0.96	CSCO	Cisco Systems	Pair Corr
0.73	TRV	The Travelers Companies	Pair Corr
0.69	HD	Home Depot Sell-off Trend	Pair Corr
0.93	IBM	International Business	Pair Corr
0.97	MSFT	Microsoft	Pair Corr

Moving against BNY Etf

0.39

MCD

McDonalds Sell-off Trend

Pair Corr

Related Correlations Analysis

	DHDG	MBCC	DIHP	MCDS	DISV	DIVN	DJAN	MDLV	DJUL
DHDG		0.96	0.98	0.96	0.98	-0.24	0.96	0.79	0.94	DHDG
MBCC	0.96		0.95	0.99	0.95	-0.28	1.0	0.89	0.99	MBCC
DIHP	0.98	0.95		0.94	0.99	-0.25	0.95	0.82	0.93	DIHP
MCDS	0.96	0.99	0.94		0.93	-0.25	0.98	0.89	0.97	MCDS
DISV	0.98	0.95	0.99	0.93		-0.3	0.96	0.83	0.94	DISV
DIVN	-0.24	-0.28	-0.25	-0.25	-0.3		-0.32	-0.26	-0.34	DIVN
DJAN	0.96	1.0	0.95	0.98	0.96	-0.32		0.87	1.0	DJAN
MDLV	0.79	0.89	0.82	0.89	0.83	-0.26	0.87		0.86	MDLV
DJUL	0.94	0.99	0.93	0.97	0.94	-0.34	1.0	0.86		DJUL
	DHDG	MBCC	DIHP	MCDS	DISV	DIVN	DJAN	MDLV	DJUL

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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

DJAN	+ 1.0	MBCC
DJUL	+ 1.0	DJAN
MCDS	+ 0.99	MBCC
DJUL	+ 0.99	MBCC
DISV	+ 0.99	DIHP
DIHP	+ 0.98	DHDG

High negative correlations

DJUL	- 0.34	DIVN
DJAN	- 0.32	DIVN
DIVN	- 0.3	DISV
DIVN	- 0.28	MBCC
MDLV	- 0.26	DIVN
DIVN	- 0.25	MCDS

BNY Mellon Constituents Risk-Adjusted Indicators

There is a big difference between BNY Etf performing well and BNY Mellon ETF 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
DHDG	0.32	0.04	(0.03)	0.19	0.46	(0.30)	1.03	(0.96)	5.20
MBCC	1.01	0.05	0.03	0.15	1.74	(1.00)	2.25	(2.07)	11.66
DIHP	0.78	0.08	0.04	0.22	1.22	(0.79)	1.60	(1.52)	8.25
MCDS	1.09	0.03	0.02	0.13	1.69	(1.08)	2.04	(2.35)	11.72
DISV	0.78	0.15	0.06	0.31	1.40	(0.89)	1.72	(1.08)	7.92
DIVN	0.42	0.00	0.00	0.00	0.00	0.00	1.67	0.00	1.12
DJAN	0.51	0.04	(0.01)	0.19	0.72	(0.52)	1.06	(1.18)	5.11
MDLV	0.72	(0.05)	(0.06)	0.03	1.36	(0.64)	1.53	(1.58)	6.20
DJUL	0.66	0.07	0.03	0.21	0.93	(0.66)	1.28	(1.53)	6.58

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