Bank of New York Correlations

BK Stock

USD 114.77 0.00 0.00%

The current 90-days correlation between Bank of New York and State Street Corp is 0.81 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bank of New York moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if The Bank of moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Bank of New York Correlation With Market

Poor diversification

The correlation between The Bank of and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Bank of and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Bank Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in The Bank of. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Bank Stock

0.75	AB	AllianceBernstein	Pair Corr
0.69	TY	Tri Continental Closed	Pair Corr
0.71	MNG	MG Plc	Pair Corr
0.78	VINP	Vinci Partners Inves	Pair Corr
0.82	PCFT	Polar Capital Global	Pair Corr
0.65	SII	Sprott Inc	Pair Corr
0.65	LBS	Life Banc Split Split	Pair Corr
0.7	DFN	Dividend 15 Split	Pair Corr

Moving against Bank Stock

0.67	DHIL	Diamond Hill Investment	Pair Corr
0.6	MFG	Magellan Financial	Pair Corr
0.54	WT	WisdomTree	Pair Corr
0.5	PX	P10 Inc	Pair Corr
0.42	BX	Blackstone Group	Pair Corr
0.41	CG	Carlyle Group Normal Trading	Pair Corr
0.61	VCTR	Victory Capital Holdings	Pair Corr
0.61	GCMGW	GCM Grosvenor	Pair Corr
0.51	SCGL	Sealand Capital Galaxy	Pair Corr
0.47	PNI	Pinnacle Investment	Pair Corr
0.45	JLEN	JLEN Environmental Assets	Pair Corr
0.34	IPX	Impax Asset Management	Pair Corr
0.31	SSSS-P	Shooting Star Acquisition	Pair Corr
0.63	CSOC-A	Canso Select Opportu	Pair Corr
0.59	TIP	Teaminvest Private	Pair Corr
0.59	VRTS	Virtus Investment	Pair Corr
0.47	ATY	Athelney Trust plc	Pair Corr
0.36	KUR-H	Kure Technologies	Pair Corr
0.35	SMT	Scottish Mortgage	Pair Corr

Related Correlations Analysis

	NTRS	IVZ	BEN	TROW	STT	SEIC	PFG	AMG	AMP	JHG
NTRS		0.39	0.34	0.38	0.4	0.42	0.61	0.25	0.42	0.68	NTRS
IVZ	0.39		-0.32	-0.05	0.9	-0.51	0.76	0.76	-0.36	0.17	IVZ
BEN	0.34	-0.32		0.82	-0.27	0.88	-0.16	-0.44	0.81	0.61	BEN
TROW	0.38	-0.05	0.82		0.04	0.69	-0.12	-0.3	0.75	0.52	TROW
STT	0.4	0.9	-0.27	0.04		-0.42	0.69	0.75	-0.31	0.18	STT
SEIC	0.42	-0.51	0.88	0.69	-0.42		-0.22	-0.55	0.86	0.62	SEIC
PFG	0.61	0.76	-0.16	-0.12	0.69	-0.22		0.74	-0.25	0.42	PFG
AMG	0.25	0.76	-0.44	-0.3	0.75	-0.55	0.74		-0.63	0.0	AMG
AMP	0.42	-0.36	0.81	0.75	-0.31	0.86	-0.25	-0.63		0.55	AMP
JHG	0.68	0.17	0.61	0.52	0.18	0.62	0.42	0.0	0.55		JHG
	NTRS	IVZ	BEN	TROW	STT	SEIC	PFG	AMG	AMP	JHG

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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

STT	+ 0.9	IVZ
SEIC	+ 0.88	BEN
AMP	+ 0.86	SEIC
TROW	+ 0.82	BEN
AMP	+ 0.81	BEN
PFG	+ 0.76	IVZ

High negative correlations

AMP	- 0.63	AMG
AMG	- 0.55	SEIC
SEIC	- 0.51	IVZ
AMG	- 0.44	BEN
SEIC	- 0.42	STT
AMP	- 0.36	IVZ

Risk-Adjusted Indicators

There is a big difference between Bank Stock performing well and Bank of New York 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 Bank of New York'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
NTRS	1.03	(0.03)	0.00	0.05	1.63	(0.99)	1.86	(2.63)	6.90
IVZ	1.25	0.18	0.11	0.17	1.69	(1.34)	3.25	(2.74)	8.27
BEN	1.23	(0.22)	0.00	(0.08)	0.00	0.00	2.36	(3.03)	8.27
TROW	0.94	(0.14)	0.00	(0.04)	0.00	0.00	2.33	(2.42)	8.10
STT	1.10	0.03	0.04	0.09	1.63	(1.07)	1.58	(2.34)	7.27
SEIC	0.85	(0.22)	0.00	(0.13)	0.00	0.00	1.30	(2.30)	5.01
PFG	0.96	0.05	0.04	0.12	1.52	(0.99)	2.34	(3.09)	7.41
AMG	1.21	0.16	0.11	0.20	1.32	(1.32)	2.74	(2.15)	10.56
AMP	1.03	(0.19)	0.00	(0.08)	0.00	0.00	1.57	(2.81)	6.93
JHG	1.29	(0.09)	(0.03)	0.01	1.79	(1.31)	1.90	(2.83)	14.63

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