Bdvex Correlations

BDVEX Fund

12.33 0.09 0.74%

The current 90-days correlation between Bdvex and Blackrock California Municipal is 0.03 (i.e., Significant diversification). The correlation of Bdvex 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.

Bdvex Correlation With Market

Very weak diversification

The correlation between Bdvex and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bdvex and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bdvex. 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 income.

Moving together with Bdvex Mutual Fund

0.78	MKCPX	Blackrock Balanced	Pair Corr
0.84	MKECX	Blackrock Funds	Pair Corr
0.62	MKDVX	Blackrock Equity Dividend	Pair Corr
0.72	MKGCX	Blackrock Advantage	Pair Corr
0.7	MKFOX	Blackrock Large Cap	Pair Corr
0.73	BRAPX	Blackrock Aggressive	Pair Corr
0.82	MKLOX	Blackrock Global All	Pair Corr
0.84	BRGNX	Blckrck Fdsiii Rssll	Pair Corr
0.71	BRGPX	Blackrock Gwth Prepared	Pair Corr
0.84	BRGKX	Blckrck Fds Iii	Pair Corr
0.84	BRGAX	Blckrck Fdsiii Rssll	Pair Corr
0.63	BRIAX	Blackrock Retirement	Pair Corr
0.85	MKSCX	Blackrock Funds	Pair Corr
0.88	MKSPX	Blackrock Advantage Total	Pair Corr
0.89	BRMIX	Blackrock Midcap Index	Pair Corr
0.89	BRMAX	Blackrock Midcap Index	Pair Corr
0.66	BRMPX	Blackrock Moderate	Pair Corr
0.89	BRMKX	Blackrock Midcap Index	Pair Corr

Related Correlations Analysis

	MKCMX	MKCPX	MKEAX	MKEFX	MKECX	MKDCX	MKDVX	MKGCX	MKFOX	MKILX
MKCMX		0.76	-0.11	0.27	0.45	0.47	0.74	0.61	-0.12	0.6	MKCMX
MKCPX	0.76		-0.11	0.13	0.8	0.56	0.74	0.75	0.36	0.48	MKCPX
MKEAX	-0.11	-0.11		0.7	-0.22	0.03	0.14	-0.15	0.29	0.43	MKEAX
MKEFX	0.27	0.13	0.7		-0.23	0.51	0.4	-0.04	-0.16	0.88	MKEFX
MKECX	0.45	0.8	-0.22	-0.23		0.44	0.48	0.71	0.65	0.08	MKECX
MKDCX	0.47	0.56	0.03	0.51	0.44		0.41	0.26	0.11	0.73	MKDCX
MKDVX	0.74	0.74	0.14	0.4	0.48	0.41		0.86	0.1	0.58	MKDVX
MKGCX	0.61	0.75	-0.15	-0.04	0.71	0.26	0.86		0.33	0.19	MKGCX
MKFOX	-0.12	0.36	0.29	-0.16	0.65	0.11	0.1	0.33		-0.13	MKFOX
MKILX	0.6	0.48	0.43	0.88	0.08	0.73	0.58	0.19	-0.13		MKILX
	MKCMX	MKCPX	MKEAX	MKEFX	MKECX	MKDCX	MKDVX	MKGCX	MKFOX	MKILX

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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

MKILX	+ 0.88	MKEFX
MKGCX	+ 0.86	MKDVX
MKECX	+ 0.8	MKCPX
MKCPX	+ 0.76	MKCMX
MKGCX	+ 0.75	MKCPX
MKDVX	+ 0.74	MKCMX

High negative correlations

MKECX	- 0.23	MKEFX
MKECX	- 0.22	MKEAX
MKFOX	- 0.16	MKEFX
MKGCX	- 0.15	MKEAX
MKILX	- 0.13	MKFOX
MKFOX	- 0.12	MKCMX

Risk-Adjusted Indicators

There is a big difference between Bdvex Mutual Fund performing well and Bdvex 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 Bdvex'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
MKCMX	0.12	(0.01)	0.00	(0.42)	0.00	0.00	0.33	(0.33)	0.92
MKCPX	0.42	(0.03)	0.00	(0.15)	0.00	0.00	0.76	(0.71)	3.32
MKEAX	0.75	0.02	0.00	(0.05)	0.00	0.00	1.50	(1.58)	4.33
MKEFX	0.84	0.19	0.19	0.26	1.00	(0.85)	1.89	(1.83)	5.15
MKECX	0.80	(0.03)	0.00	(0.13)	0.00	0.00	1.52	(2.31)	4.29
MKDCX	0.78	0.09	0.13	0.19	1.00	(0.79)	1.48	(1.76)	4.12
MKDVX	0.60	(0.05)	0.00	(0.17)	0.00	0.00	1.07	(1.31)	5.04
MKGCX	0.82	(0.15)	0.00	(0.30)	0.00	0.00	1.02	(1.60)	11.81
MKFOX	1.12	(0.05)	0.00	(0.13)	0.00	0.00	1.79	(3.00)	6.69
MKILX	0.70	0.14	0.18	0.19	0.77	(0.71)	1.43	(1.30)	4.20

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