BlackRock Municipal Correlations

BFK Stock

USD 10.10 0.12 1.17%

The current 90-days correlation between BlackRock Municipal and Blackrock Muniholdings Closed is 0.78 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as BlackRock Municipal moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BlackRock Municipal Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

BlackRock Municipal Correlation With Market

Modest diversification

The correlation between BlackRock Municipal Income and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BlackRock Municipal Income 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 BlackRock Municipal Income. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with BlackRock Stock

0.86	V	Visa Class A	Pair Corr
0.81	MA	Mastercard	Pair Corr
0.62	WSBF	Waterstone Financial	Pair Corr
0.75	GDST	Goldenstone Acquisition	Pair Corr
0.72	OPFI	OppFi Inc	Pair Corr
0.79	SNFCA	Security National Earnings Call Tomorrow	Pair Corr
0.85	BBDC	Barings BDC	Pair Corr
0.9	COOP	Mr Cooper Group	Pair Corr
0.69	C	Citigroup Aggressive Push	Pair Corr
0.68	AC	Associated Capital	Pair Corr
0.89	BK	Bank of New York	Pair Corr

Moving against BlackRock Stock

0.59	ORGN	Origin Materials	Pair Corr
0.42	WD	Walker Dunlop	Pair Corr
0.57	DHIL	Diamond Hill Investment	Pair Corr
0.55	CODI	Compass Diversified	Pair Corr
0.53	BITF	Bitfarms Aggressive Push	Pair Corr
0.45	PYPL	PayPal Holdings Sell-off Trend	Pair Corr
0.52	EG	Everest Group	Pair Corr
0.52	LC	LendingClub Corp	Pair Corr

Related Correlations Analysis

	MHD	BYM	BTZ	VKQ	IHTA	MQY	MQT	MFM	CXE	VKI
MHD		0.96	0.88	0.86	0.0	0.84	0.86	0.79	0.81	0.88	MHD
BYM	0.96		0.87	0.84	0.0	0.79	0.81	0.77	0.78	0.89	BYM
BTZ	0.88	0.87		0.81	0.0	0.81	0.9	0.83	0.82	0.85	BTZ
VKQ	0.86	0.84	0.81		0.0	0.83	0.86	0.88	0.89	0.89	VKQ
IHTA	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	IHTA
MQY	0.84	0.79	0.81	0.83	0.0		0.89	0.82	0.82	0.76	MQY
MQT	0.86	0.81	0.9	0.86	0.0	0.89		0.9	0.91	0.83	MQT
MFM	0.79	0.77	0.83	0.88	0.0	0.82	0.9		0.9	0.85	MFM
CXE	0.81	0.78	0.82	0.89	0.0	0.82	0.91	0.9		0.88	CXE
VKI	0.88	0.89	0.85	0.89	0.0	0.76	0.83	0.85	0.88		VKI
	MHD	BYM	BTZ	VKQ	IHTA	MQY	MQT	MFM	CXE	VKI

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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

BYM	+ 0.96	MHD
CXE	+ 0.91	MQT
MQT	+ 0.9	BTZ
MFM	+ 0.9	MQT
CXE	+ 0.9	MFM
VKI	+ 0.89	BYM

High negative correlations

VKI	- 0.0	IHTA
CXE	- 0.0	IHTA
MFM	- 0.0	IHTA
MQT	- 0.0	IHTA
MQY	- 0.0	IHTA
IHTA	- 0.0	VKQ

Risk-Adjusted Indicators

There is a big difference between BlackRock Stock performing well and BlackRock Municipal 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 BlackRock Municipal'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
MHD	0.49	(0.02)	0.00	(0.19)	0.00	0.00	0.94	(1.02)	2.80
BYM	0.48	(0.03)	0.00	(0.23)	0.00	0.00	1.12	(1.10)	2.57
BTZ	0.42	0.01	0.01	0.05	0.59	(0.43)	0.77	(0.93)	1.82
VKQ	0.49	(0.02)	0.00	1.93	0.00	0.00	1.04	(1.24)	3.24
IHTA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MQY	0.50	(0.04)	0.00	(0.22)	0.00	0.00	1.04	(0.95)	2.85
MQT	0.49	0.00	0.00	0.02	0.58	(0.54)	1.28	(0.92)	3.03
MFM	0.61	(0.02)	0.00	(0.10)	0.00	0.00	1.12	(1.50)	3.55
CXE	0.58	(0.01)	(0.01)	(0.23)	0.72	(0.62)	0.82	(1.08)	4.08
VKI	0.52	(0.03)	0.00	(0.23)	0.00	0.00	1.18	(1.03)	2.92

BlackRock Municipal Corporate Management

Henry Gabbay	Independent Trustee	Profile
CFA CFA	Portfolio Mang	Profile
Robert Hubbard	Independent Trustee	Profile
Charles Park	Chief Compliance Officer and Anti-Money Laundering Officer	Profile
Frank Fabozzi	Independent Trustee	Profile

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