BNY Mellon Correlations

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USD 6.38 0.02 0.31%

The current 90-days correlation between BNY Mellon Strategic and Source Capital Closed is -0.1 (i.e., Good 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 0.16 (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.

Build AI portfolio with BNY Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in BNY Mellon Strategic. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with BNY Stock

0.65	PAX	Patria Investments	Pair Corr
0.61	STT	State Street Corp	Pair Corr
0.67	VFL	Delaware Investments	Pair Corr
0.61	FFN	North American Financial	Pair Corr

Moving against BNY Stock

0.52	IPX	Impax Asset Management	Pair Corr
0.36	TY	Tri Continental Closed	Pair Corr
0.36	ECC	Eagle Point Credit	Pair Corr
0.32	LIT	Litigation Capital	Pair Corr
0.42	LIO	Liontrust Asset Mana	Pair Corr
0.38	LTI	Lindsell Train Investment	Pair Corr

Related Correlations Analysis

	SOR	PSBD	GIG	MCI	SAR	PNNT	DHIL	GLAD	SCM
SOR		-0.17	-0.53	0.17	0.48	-0.87	0.12	0.63	0.46	SOR
PSBD	-0.17		0.48	-0.41	0.0	0.21	-0.03	-0.09	0.05	PSBD
GIG	-0.53	0.48		-0.36	-0.54	0.49	-0.1	-0.49	-0.34	GIG
MCI	0.17	-0.41	-0.36		-0.06	-0.02	-0.67	0.05	-0.3	MCI
SAR	0.48	0.0	-0.54	-0.06		-0.46	0.47	0.85	0.84	SAR
PNNT	-0.87	0.21	0.49	-0.02	-0.46		-0.28	-0.62	-0.52	PNNT
DHIL	0.12	-0.03	-0.1	-0.67	0.47	-0.28		0.27	0.58	DHIL
GLAD	0.63	-0.09	-0.49	0.05	0.85	-0.62	0.27		0.81	GLAD
SCM	0.46	0.05	-0.34	-0.3	0.84	-0.52	0.58	0.81		SCM
	SOR	PSBD	GIG	MCI	SAR	PNNT	DHIL	GLAD	SCM

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

GLAD	+ 0.85	SAR
SCM	+ 0.84	SAR
SCM	+ 0.81	GLAD
GLAD	+ 0.63	SOR
SCM	+ 0.58	DHIL
PNNT	+ 0.49	GIG

High negative correlations

PNNT	- 0.87	SOR
DHIL	- 0.67	MCI
GLAD	- 0.62	PNNT
SAR	- 0.54	GIG
GIG	- 0.53	SOR
SCM	- 0.52	PNNT

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
SOR	0.79	0.05	0.01	0.27	1.04	(0.80)	1.60	(1.95)	5.69
PSBD	1.00	(0.01)	(0.03)	0.04	1.16	(1.22)	2.63	(2.20)	8.79
GIG	0.60	(0.02)	(0.04)	(0.01)	1.19	(0.77)	1.90	(1.19)	12.05
MCI	0.92	(0.12)	0.00	(0.63)	0.00	0.00	1.84	(2.44)	8.35
SAR	0.88	(0.07)	0.00	(0.05)	0.00	0.00	1.54	(2.09)	6.31
PNNT	1.12	(0.12)	0.00	(0.29)	0.00	0.00	2.13	(2.39)	8.32
DHIL	1.67	0.32	0.27	0.19	1.03	(2.20)	1.65	(2.93)	45.02
GLAD	1.08	(0.08)	0.00	(0.07)	0.00	0.00	2.03	(2.00)	7.56
SCM	1.08	(0.02)	(0.02)	0.03	1.46	(1.05)	1.94	(2.74)	6.78

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