Bny Mellon Strategic Fund Market Value
| DSM Fund | USD 5.57 0.02 0.36% |
| Symbol | Bny |
Bny Mellon 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Bny Mellon's fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Bny Mellon.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Bny Mellon on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Bny Mellon Strategic or generate 0.0% return on investment in Bny Mellon over 30 days. Bny Mellon is related to or competes with MFS Investment, AllianzGI Convertible, Invesco High, Eaton Vance, Federated Premier, Blackrock Muniholdings, and Nuveen California. BNY Mellon Strategic Municipal Bond Fund, Inc More
Bny Mellon Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Bny Mellon's fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Bny Mellon Strategic upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 2.8 | |||
| Value At Risk | (1.07) | |||
| Potential Upside | 1.05 |
Bny Mellon Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Bny Mellon's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Bny Mellon's standard deviation. In reality, there are many statistical measures that can use Bny Mellon historical prices to predict the future Bny Mellon's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.10) | |||
| Treynor Ratio | (0.12) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Bny Mellon's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Bny Mellon Strategic Backtested Returns
Bny Mellon Strategic secures Sharpe Ratio (or Efficiency) of -0.0109, which signifies that the fund had a -0.0109% return per unit of risk over the last 3 months. Bny Mellon Strategic exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Bny Mellon's Mean Deviation of 0.4956, risk adjusted performance of (0.03), and Standard Deviation of 0.6323 to double-check the risk estimate we provide. The fund shows a Beta (market volatility) of 0.35, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Bny Mellon's returns are expected to increase less than the market. However, during the bear market, the loss of holding Bny Mellon is expected to be smaller as well.
Auto-correlation | 0.65 |
Good predictability
Bny Mellon Strategic has good predictability. Overlapping area represents the amount of predictability between Bny Mellon time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Bny Mellon Strategic price movement. The serial correlation of 0.65 indicates that roughly 65.0% of current Bny Mellon price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.65 | |
| Spearman Rank Test | 0.7 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Bny Mellon Strategic lagged returns against current returns
Autocorrelation, which is Bny Mellon fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Bny Mellon's fund expected returns. We can calculate the autocorrelation of Bny Mellon returns to help us make a trade decision. For example, suppose you find that Bny Mellon has exhibited high autocorrelation historically, and you observe that the fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Bny Mellon regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Bny Mellon fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Bny Mellon fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Bny Mellon fund over time.
Current vs Lagged Prices |
| Timeline |
Bny Mellon Lagged Returns
When evaluating Bny Mellon's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Bny Mellon fund have on its future price. Bny Mellon autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Bny Mellon autocorrelation shows the relationship between Bny Mellon fund current value and its past values and can show if there is a momentum factor associated with investing in Bny Mellon Strategic.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Bny Mellon in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Bny Mellon's short interest history, or implied volatility extrapolated from Bny Mellon options trading.
Pair Trading with Bny Mellon
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Bny Mellon position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Bny Mellon will appreciate offsetting losses from the drop in the long position's value.Moving together with Bny Fund
| 0.66 | NCZ | Allianzgi Convertible | PairCorr |
| 0.71 | KF | Korea Closed | PairCorr |
| 0.61 | GLO | Clough Global Opport | PairCorr |
The ability to find closely correlated positions to Bny Mellon could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bny Mellon when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Bny Mellon - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Bny Mellon Strategic to buy it.
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 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. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Bny Mellon can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Bny Mellon Correlation, Bny Mellon Volatility and Bny Mellon Alpha and Beta module to complement your research on Bny Mellon. You can also try the Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
Bny Mellon technical fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.