Blackrock Gnma Correlations

BGPAX Fund

USD 7.97 0.01 0.13%

The current 90-days correlation between Blackrock Gnma Inv and Federated Government Income is 0.97 (i.e., Almost no diversification). The correlation of Blackrock Gnma 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.

Blackrock Gnma Correlation With Market

Average diversification

The correlation between Blackrock Gnma Inv and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Gnma Inv 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 Gnma Inv. 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 nation.

Moving together with Blackrock Mutual Fund

0.67	MKDVX	Blackrock Equity Dividend	Pair Corr
0.83	BRIEX	Blackrock Retirement	Pair Corr
0.85	BAMBX	Blackrock Alternative	Pair Corr
0.64	BCLPX	Blckrk Lc Cr	Pair Corr
0.78	BDHAX	Blackrock High Income	Pair Corr
0.89	BDVFX	Blackrock Diversified	Pair Corr
0.99	MPHQX	Blackrock Bd Fd	Pair Corr
0.69	SHISX	Blackrock Health Sciences	Pair Corr
0.68	MABAX	Blackrock Basic Value	Pair Corr
0.68	SHSCX	Blackrock Health Sciences	Pair Corr
0.69	SHSAX	Blackrock Health Sciences	Pair Corr
0.74	SHSSX	Blackrock Health Sciences	Pair Corr
0.76	MALOX	Blackrock Gbl Alloc	Pair Corr
0.83	MSPYX	Blackrock Pa Muni	Pair Corr
0.68	BHSRX	Blackrock Health Sciences	Pair Corr
0.7	BHYRX	Blackrock High Yield	Pair Corr
0.88	BICPX	Blackrock Conservative	Pair Corr
0.92	BIDPX	Ishares Municipal Bond	Pair Corr
1.0	BIGLX	Blackrock Government Bond	Pair Corr
0.73	BIMPX	Blackrock Moderate	Pair Corr
0.93	MDMTX	Blrc Sgy Mnp	Pair Corr
0.9	BLDRX	Blackrock Managed Income	Pair Corr

Related Correlations Analysis

	FITSX	MFIRX	DHGCX	TIQIX	PAEIX	LGFEX	BBHLX	SMNIX
FITSX		0.52	0.95	0.68	0.63	0.86	0.59	0.07	FITSX
MFIRX	0.52		0.6	0.84	0.9	0.6	0.91	-0.14	MFIRX
DHGCX	0.95	0.6		0.7	0.67	0.83	0.64	-0.03	DHGCX
TIQIX	0.68	0.84	0.7		0.95	0.85	0.93	-0.13	TIQIX
PAEIX	0.63	0.9	0.67	0.95		0.82	0.98	-0.17	PAEIX
LGFEX	0.86	0.6	0.83	0.85	0.82		0.78	-0.12	LGFEX
BBHLX	0.59	0.91	0.64	0.93	0.98	0.78		-0.2	BBHLX
SMNIX	0.07	-0.14	-0.03	-0.13	-0.17	-0.12	-0.2		SMNIX
	FITSX	MFIRX	DHGCX	TIQIX	PAEIX	LGFEX	BBHLX	SMNIX

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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

BBHLX	+ 0.98	PAEIX
DHGCX	+ 0.95	FITSX
PAEIX	+ 0.95	TIQIX
BBHLX	+ 0.93	TIQIX
BBHLX	+ 0.91	MFIRX
PAEIX	+ 0.9	MFIRX

High negative correlations

SMNIX	- 0.2	BBHLX
SMNIX	- 0.17	PAEIX
SMNIX	- 0.14	MFIRX
SMNIX	- 0.13	TIQIX
SMNIX	- 0.12	LGFEX
SMNIX	- 0.03	DHGCX

Risk-Adjusted Indicators

There is a big difference between Blackrock Mutual Fund performing well and Blackrock Gnma 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 Blackrock Gnma'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
FITSX	0.26	0.03	0.09	0.31	0.24	(0.32)	0.57	(0.46)	1.60
MFIRX	0.11	0.03	0.13	0.62	0.00	(0.21)	0.19	(0.19)	0.76
DHGCX	0.17	0.02	0.10	0.24	0.07	(0.23)	0.37	(0.36)	1.10
TIQIX	0.62	0.09	0.12	(0.47)	0.72	(0.67)	1.39	(1.11)	3.89
PAEIX	0.56	0.10	0.12	0.24	0.65	(0.61)	1.18	(1.08)	3.59
LGFEX	0.61	0.07	0.06	0.08	1.01	(0.60)	1.16	(0.99)	5.71
BBHLX	0.58	0.11	0.16	0.27	0.58	(0.65)	1.21	(0.96)	3.66
SMNIX	0.36	0.02	0.05	(0.54)	0.34	(0.52)	0.93	(0.73)	1.98

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