Blackrock Bond Correlations

BMOAX Fund

USD 9.01 0.04 0.44%

The current 90-days correlation between Blackrock Bond Index and Multisector Bond Sma is 0.83 (i.e., Very poor diversification). The correlation of Blackrock Bond 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 Bond Correlation With Market

Significant diversification

The correlation between Blackrock Bond Index and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Bond Index 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 Bond Index. 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

0.83	MKCMX	Blackrock California	Pair Corr
0.64	MKEFX	Blackrock Eurofund Class	Pair Corr
0.75	MKILX	Blackrock International	Pair Corr
1.0	BRAMX	Bats Series M	Pair Corr
0.68	MKMTX	Blackrock Strategic	Pair Corr
0.99	BRACX	Bats Series C	Pair Corr
0.62	MKNKX	Blackrock New York	Pair Corr
0.66	MKNJX	Blackrock New Jersey	Pair Corr
0.93	BRASX	Bats Series S	Pair Corr
0.73	BRCPX	Blackrock Conservative	Pair Corr
0.75	BRHYX	Blackrock Hi Yld	Pair Corr
0.63	BRIDX	Blackrock Retirement	Pair Corr
0.63	BRIEX	Blackrock Retirement	Pair Corr
0.97	MKWIX	Blackrock Strategic	Pair Corr
0.89	BROKX	Blackrock Advantage	Pair Corr
0.89	BROIX	Blackrock Glbl Opprtnts	Pair Corr

Moving against Blackrock Mutual Fund

0.7	MKFOX	Blackrock Large Cap	Pair Corr
0.39	MKECX	Blackrock Funds	Pair Corr
0.63	MKSPX	Blackrock Advantage Total	Pair Corr
0.49	BRGAX	Blckrck Fdsiii Rssll	Pair Corr
0.48	BRGNX	Blckrck Fdsiii Rssll	Pair Corr
0.48	BRGKX	Blckrck Fds Iii	Pair Corr
0.46	BRMIX	Blackrock Midcap Index	Pair Corr
0.47	BRMAX	Blackrock Midcap Index	Pair Corr
0.46	BRMKX	Blackrock Midcap Index	Pair Corr

Related Correlations Analysis

	MBSAX	BMOPX	GANPX	BBINX	MSTBX	MIIIX
MBSAX		0.98	0.92	0.91	0.96	0.97	MBSAX
BMOPX	0.98		0.92	0.91	0.96	1.0	BMOPX
GANPX	0.92	0.92		0.94	0.92	0.88	GANPX
BBINX	0.91	0.91	0.94		0.84	0.88	BBINX
MSTBX	0.96	0.96	0.92	0.84		0.96	MSTBX
MIIIX	0.97	1.0	0.88	0.88	0.96		MIIIX
	MBSAX	BMOPX	GANPX	BBINX	MSTBX	MIIIX

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Risk-Adjusted Indicators

There is a big difference between Blackrock Mutual Fund performing well and Blackrock Bond 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 Bond'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
MBSAX	0.18	0.02	0.29	0.16	0.19	(0.21)	0.36	(0.30)	1.34
BMOPX	0.23	0.02	0.26	0.55	0.21	(0.26)	0.55	(0.34)	1.36
GANPX	0.06	0.00	0.42	0.03	0.00	(0.12)	0.10	(0.10)	0.48
BBINX	0.13	(0.01)	0.24	(0.26)	0.17	(0.18)	0.29	(0.30)	0.78
MSTBX	0.11	0.02	0.51	3.47	0.00	(0.15)	0.21	(0.21)	0.62
MIIIX	0.24	0.02	0.27	0.56	0.20	(0.32)	0.54	(0.43)	1.42

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