Blackrock International Correlations

BGY Fund

USD 5.62 0.01 0.18%

The current 90-days correlation between Blackrock International and Eaton Vance Tax is 0.58 (i.e., Very weak diversification). The correlation of Blackrock International 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 International Correlation With Market

Very weak diversification

The correlation between Blackrock International Growth and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock International Growth 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 International Growth. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Blackrock Fund

0.93	EMBAX	Unconstrained Emerging	Pair Corr
0.87	RMDUX	American Funds Multi	Pair Corr
0.94	ABNOX	Ab Bond Inflation	Pair Corr
0.95	EPDPX	Europac International	Pair Corr
0.93	GF	New Germany Closed	Pair Corr
0.9	VICSX	Vanguard Intermediate-ter	Pair Corr
0.88	HTD	John Hancock Tax	Pair Corr
0.87	MRCZX	Massmutual Retiresmart	Pair Corr
0.94	MEERX	Massmutual Premier	Pair Corr
0.88	EBSFX	Eubel Brady Suttman	Pair Corr
0.96	BISMX	Brandes International	Pair Corr
0.85	SGDLX	Sprott Gold Equity	Pair Corr
0.83	SAEMX	Sa Emerging Markets	Pair Corr
0.83	DBIWX	Dws Global Macro	Pair Corr
0.69	RXRPX	American Funds Retirement	Pair Corr
0.9	HRBDX	Harbor Bond Fund	Pair Corr
0.86	USGDX	Morgan Stanley Government	Pair Corr
0.92	VSGDX	Vanguard Short Term	Pair Corr
0.89	GIOIX	Guggenheim Macro Opp	Pair Corr
0.91	UTF	Cohen And Steers	Pair Corr
0.96	ARBOX	Absolute Convertible	Pair Corr
0.81	DLDFX	Destinations Low Duration	Pair Corr
0.73	EBSIX	Campbell Systematic Macro	Pair Corr
0.9	PSDNX	Putnam Ultra Short	Pair Corr

Moving against Blackrock Fund

0.74	SMPIX	Semiconductor Ultrasector	Pair Corr
0.74	SMPSX	Semiconductor Ultrasector	Pair Corr
0.31	RGNCX	Victory Global Natural	Pair Corr

Related Correlations Analysis

	BDJ	ETY	BCX	BLE	CII	BOE	ETV	EXG	ETW	ETJ
BDJ		0.51	0.74	0.77	0.31	0.89	0.17	0.89	0.82	-0.17	BDJ
ETY	0.51		0.16	0.49	0.94	0.58	0.9	0.69	0.83	0.72	ETY
BCX	0.74	0.16		0.37	0.0	0.61	-0.17	0.7	0.56	-0.35	BCX
BLE	0.77	0.49	0.37		0.28	0.79	0.2	0.66	0.63	-0.14	BLE
CII	0.31	0.94	0.0	0.28		0.42	0.97	0.53	0.66	0.86	CII
BOE	0.89	0.58	0.61	0.79	0.42		0.3	0.86	0.81	-0.03	BOE
ETV	0.17	0.9	-0.17	0.2	0.97	0.3		0.4	0.58	0.91	ETV
EXG	0.89	0.69	0.7	0.66	0.53	0.86	0.4		0.93	0.12	EXG
ETW	0.82	0.83	0.56	0.63	0.66	0.81	0.58	0.93		0.31	ETW
ETJ	-0.17	0.72	-0.35	-0.14	0.86	-0.03	0.91	0.12	0.31		ETJ
	BDJ	ETY	BCX	BLE	CII	BOE	ETV	EXG	ETW	ETJ

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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

ETV	+ 0.97	CII
CII	+ 0.94	ETY
ETW	+ 0.93	EXG
ETJ	+ 0.91	ETV
ETV	+ 0.9	ETY
BOE	+ 0.89	BDJ

High negative correlations

ETJ	- 0.35	BCX
ETV	- 0.17	BCX
ETJ	- 0.17	BDJ
ETJ	- 0.14	BLE
ETJ	- 0.03	BOE
CII	- 0.0	BCX

Risk-Adjusted Indicators

There is a big difference between Blackrock Fund performing well and Blackrock International 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 International'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
BDJ	0.70	0.11	0.13	0.15	0.64	(0.82)	1.63	(1.25)	3.50
ETY	0.71	0.00	0.00	0.00	0.97	(0.76)	1.44	(1.43)	5.10
BCX	0.86	0.17	0.16	0.29	0.85	(0.94)	1.71	(1.38)	3.51
BLE	0.46	0.00	0.00	(0.02)	0.56	(0.52)	1.14	(1.05)	2.93
CII	0.74	(0.03)	0.00	(0.04)	0.00	0.00	1.54	(1.79)	4.39
BOE	0.63	0.03	0.03	(0.53)	0.82	(0.63)	1.29	(1.49)	3.79
ETV	0.73	(0.05)	0.00	(0.08)	0.00	0.00	1.52	(1.61)	3.67
EXG	0.64	0.06	0.07	0.08	0.70	(0.70)	1.20	(1.20)	3.06
ETW	0.63	0.03	0.03	0.04	0.75	(0.66)	1.23	(1.19)	3.59
ETJ	0.63	(0.07)	0.00	(0.13)	0.00	0.00	1.22	(1.37)	4.67

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