Blackrock Correlations

BHYCX Fund

USD 7.09 0.01 0.14%

The current 90-days correlation between Blackrock Hi Yld and Victory Cemp Market is -0.1 (i.e., Good diversification). The correlation of Blackrock 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 Correlation With Market

Significant diversification

The correlation between Blackrock Hi Yld and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Hi Yld 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 Hi Yld. 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 main economic indicators.

For more information on how to buy Blackrock Mutual Fund please use our How to Invest in Blackrock guide.

Moving together with Blackrock Mutual Fund

0.9	VWEAX	Vanguard High Yield	Pair Corr
0.91	VWEHX	Vanguard High Yield	Pair Corr
0.99	BHYIX	Blackrock High Yield	Pair Corr
0.99	BHYSX	Blackrock Hi Yld	Pair Corr
0.99	BHYAX	Blackrock High Yield	Pair Corr
0.97	FAHHX	American Funds American	Pair Corr
0.97	FTAHX	American Funds American	Pair Corr
0.97	AHTFX	American High Income	Pair Corr
0.88	AHTCX	American High Income	Pair Corr
0.68	VTISX	Vanguard Total Inter	Pair Corr
0.64	VTSNX	Vanguard Total Inter	Pair Corr
0.64	VTPSX	Vanguard Total Inter	Pair Corr
0.77	IBM	International Business	Pair Corr
0.66	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.71	MMM	3M Company	Pair Corr
0.76	GE	GE Aerospace	Pair Corr

Moving against Blackrock Mutual Fund

0.67	MRK	Merck Company	Pair Corr
0.46	AA	Alcoa Corp	Pair Corr
0.4	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	CBHAX	SEDAX	QMNIX	PACEX	XJMMX	IGIEX	BXECX
CBHAX		0.77	0.84	0.8	0.56	0.61	0.8	CBHAX
SEDAX	0.77		0.91	0.95	0.86	0.95	0.97	SEDAX
QMNIX	0.84	0.91		0.91	0.73	0.82	0.94	QMNIX
PACEX	0.8	0.95	0.91		0.91	0.93	0.96	PACEX
XJMMX	0.56	0.86	0.73	0.91		0.94	0.86	XJMMX
IGIEX	0.61	0.95	0.82	0.93	0.94		0.91	IGIEX
BXECX	0.8	0.97	0.94	0.96	0.86	0.91		BXECX
	CBHAX	SEDAX	QMNIX	PACEX	XJMMX	IGIEX	BXECX

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Risk-Adjusted Indicators

There is a big difference between Blackrock Mutual Fund performing well and Blackrock 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'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
CBHAX	0.19	0.03	0.37	(0.40)	0.00	(0.25)	0.36	(0.36)	1.20
SEDAX	0.25	0.03	0.27	0.33	0.19	(0.33)	0.59	(0.36)	1.19
QMNIX	0.30	0.15	0.54	0.91	0.00	(0.41)	0.68	(0.39)	1.97
PACEX	0.12	0.02	0.47	0.48	0.00	(0.20)	0.33	(0.22)	0.76
XJMMX	0.19	0.00	0.18	(0.25)	0.22	(0.26)	0.46	(0.46)	0.92
IGIEX	0.25	0.01	0.16	0.02	0.30	(0.32)	0.72	(0.49)	1.58
BXECX	0.19	0.04	0.36	0.67	0.00	(0.32)	0.55	(0.27)	1.21

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