Bny Mellon Correlations

Mutual Funds . USA . 
Fund . Bny Mellon Mid
MIMSX Fund  USD 14.72  0.09  0.62%   
The current 90-days correlation between Bny Mellon Mid and Invesco Disciplined Equity is -0.1 (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

Good diversification

The correlation between Bny Mellon Mid and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bny Mellon Mid 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 Mid. 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 state.

Moving together with Bny Mutual Fund

  0.92MMBIX Bny Mellon MassachusettsPairCorr
  0.92MMBMX Bny Mellon MassachusettsPairCorr
  0.92MNYIX Bny Mellon NewPairCorr
  0.91MNYMX Bny Mellon NewPairCorr
  0.98MPBLX Bny Mellon AssetPairCorr
  0.96MPITX Bny Mellon InternationalPairCorr
  0.69MPIBX Bny Mellon IntermediatePairCorr
  0.98MPISX Bny Mellon IncomePairCorr
  0.92MPNIX Bny Mellon NationalPairCorr
  0.98MPMCX Bny Mellon MidPairCorr
  0.92MPPIX Bny Mellon PennsylvaniaPairCorr
  0.96MPSSX Bny Mellon SmallPairCorr
  0.66MPSUX Bny Mellon ShortPairCorr
  0.91MPSTX Bny Mellon NationalPairCorr
  0.85BYMMX Bny Mellon PoratePairCorr
  0.86BYMIX Bny Mellon PoratePairCorr
  0.97MEMKX Bny Mellon EmergingPairCorr
  0.96BMIIX Bny Mellon IncomePairCorr
  0.96BMIAX Bny Mellon IncomePairCorr
  0.98BMIYX Bny Mellon IncomePairCorr
  0.96BMISX Bny Mellon IncomePairCorr
  0.98MIBLX Bny Mellon AssetPairCorr
  0.97MIEGX Bny Mellon EmergingPairCorr
  0.95MIINX Bny Mellon InternationalPairCorr
  0.98MIISX Bny Mellon IncomePairCorr
  0.66MIIDX Bny Mellon IntermediatePairCorr
  0.92MINMX Bny Mellon NationalPairCorr
  0.91MIPAX Bny Mellon PennsylvaniaPairCorr
  0.92MINSX Bny Mellon NationalPairCorr
  0.96MISCX Bny Mellon SmallPairCorr
  0.66MISTX Bny Mellon ShortPairCorr
  0.97VIMAX Vanguard Mid CapPairCorr
  0.97VIMSX Vanguard Mid CapPairCorr
  0.97VMCPX Vanguard Mid CapPairCorr
  0.97VMCIX Vanguard Mid CapPairCorr

Related Correlations Analysis

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
AWEIX  0.57  0.06  0.05  0.24  0.42 
(0.64)
 1.49 
(1.02)
 4.56 
MNYIX  0.11  0.01 (0.87)(3.54) 0.00 
(0.16)
 0.20 
(0.19)
 0.78 
MPBFX  0.23  0.00 (0.43) 0.20  0.24 
(0.26)
 0.46 
(0.46)
 1.11 
MPBLX  0.39  0.09  0.03  0.33  0.11 
(0.45)
 1.32 
(0.77)
 3.04 
MPITX  0.46  0.18  0.01 (3.01) 0.27 
(0.54)
 1.26 
(0.99)
 3.01 
MPIBX  0.16  0.02 (0.67)(2.68) 0.05 
(0.19)
 0.25 
(0.33)
 0.76 
MPNIX  0.11  0.02 (0.80)(2.03) 0.00 
(0.15)
 0.24 
(0.16)
 0.80 
MPMCX  0.66  0.08  0.08  0.26  0.54 
(0.75)
 1.96 
(1.29)
 5.23 
MPSSX  0.77  0.10  0.08  0.26  0.74 
(0.82)
 2.31 
(1.73)
 5.82 
MPSTX  0.05  0.02 (1.48)(2.45) 0.00 
(0.10)
 0.08 
(0.08)
 0.40 

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