BlackRock New Correlations

BNY Stock

USD 10.53 0.03 0.29%

The current 90-days correlation between BlackRock New York and Invesco Trust For is 0.25 (i.e., Modest diversification). The correlation of BlackRock New 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 New Correlation With Market

Good diversification

The correlation between BlackRock New York and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BlackRock New York 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 New York. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with BlackRock Stock

0.68	BEN	Franklin Resources	Pair Corr
0.62	NMFC	New Mountain Finance	Pair Corr
0.74	APAM	Artisan Partners Asset	Pair Corr
0.75	BBUC	Brookfield Business Corp	Pair Corr
0.69	BY	Byline Bancorp	Pair Corr

Moving against BlackRock Stock

0.38

CGBD

Carlyle Secured Lending

Pair Corr

Related Correlations Analysis

	VTN	PNI	EVY	PYN	MHN	KTF	RFMZ	CXH	CBH
VTN		0.86	0.0	0.82	0.84	0.93	0.29	0.78	0.0	VTN
PNI	0.86		0.0	0.95	0.93	0.95	0.63	0.94	0.0	PNI
EVY	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	EVY
PYN	0.82	0.95	0.0		0.92	0.94	0.69	0.94	0.0	PYN
MHN	0.84	0.93	0.0	0.92		0.92	0.61	0.91	0.0	MHN
KTF	0.93	0.95	0.0	0.94	0.92		0.56	0.9	0.0	KTF
RFMZ	0.29	0.63	0.0	0.69	0.61	0.56		0.71	0.0	RFMZ
CXH	0.78	0.94	0.0	0.94	0.91	0.9	0.71		0.0	CXH
CBH	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		CBH
	VTN	PNI	EVY	PYN	MHN	KTF	RFMZ	CXH	CBH

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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

PYN	+ 0.95	PNI
KTF	+ 0.95	PNI
CXH	+ 0.94	PNI
KTF	+ 0.94	PYN
CXH	+ 0.94	PYN
KTF	+ 0.93	VTN

High negative correlations

CBH	- 0.0	CXH
CBH	- 0.0	RFMZ
CBH	- 0.0	KTF
CBH	- 0.0	MHN
CBH	- 0.0	PYN
CBH	- 0.0	EVY

Risk-Adjusted Indicators

There is a big difference between BlackRock Stock performing well and BlackRock New 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 New'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
VTN	0.54	(0.06)	0.00	(0.23)	0.00	0.00	1.16	(1.38)	3.88
PNI	0.48	0.02	0.03	0.09	0.82	(0.44)	0.84	(0.84)	3.49
EVY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PYN	0.48	0.00	0.01	0.01	0.59	(0.58)	0.88	(1.06)	2.59
MHN	0.48	0.01	0.02	0.03	0.58	(0.54)	0.93	(1.05)	2.71
KTF	0.35	(0.01)	0.00	(0.10)	0.00	0.00	0.75	(0.94)	2.23
RFMZ	0.51	0.05	0.08	0.21	0.59	(0.57)	1.14	(1.10)	3.10
CXH	0.43	0.00	0.01	0.01	0.68	(0.40)	0.76	(1.01)	3.44
CBH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

BlackRock New Corporate Management

Henry Gabbay	Independent Trustee	Profile
CFA CFA	Portfolio Mang	Profile
Robert Hubbard	Independent Trustee	Profile
Charles Park	Chief Compliance Officer	Profile
Frank Fabozzi	Independent Trustee	Profile

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