Bats Series Correlations

BRACX Fund  USD 9.04  0.05  0.56%   
The current 90-days correlation between Bats Series C and Ultrasmall Cap Profund Ultrasmall Cap is 0.45 (i.e., Very weak diversification). The correlation of Bats Series 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.

Bats Series Correlation With Market

Average diversification

The correlation between Bats Series C and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bats Series C 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 Bats Series C. 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.

Moving together with Bats Mutual Fund

  0.95MKCMX Blackrock CaliforniaPairCorr
  0.85MKCPX Blackrock BalancedPairCorr
  0.66MKECX Blackrock FundsPairCorr
  0.66MKDVX Blackrock Equity DividendPairCorr
  0.69BRAPX Blackrock AggressivePairCorr
  0.99BRAMX Bats Series MPairCorr
  0.96MKMTX Blackrock StrategicPairCorr
  0.95MKNKX Blackrock New YorkPairCorr
  0.93MKNJX Blackrock New JerseyPairCorr
  0.85MKLOX Blackrock Global AllPairCorr
  0.86BRCPX Blackrock ConservativePairCorr
  0.94MKPYX Blackrock PennsylvaniaPairCorr
  0.71BRGPX Blackrock Gwth PreparedPairCorr
  0.84BRIAX Blackrock RetirementPairCorr
  0.62BRHYX Blackrock Hi YldPairCorr
  0.8MKSCX Blackrock Funds Potential GrowthPairCorr
  0.62MKSPX Blackrock Advantage TotalPairCorr
  0.82BRIDX Blackrock RetirementPairCorr
  0.81BRIEX Blackrock RetirementPairCorr
  0.83BRICX Blackrock RetirementPairCorr
  0.68BRMIX Blackrock Midcap IndexPairCorr
  0.9MKWIX Blackrock StrategicPairCorr
  0.68BRMAX Blackrock Midcap IndexPairCorr
  0.77BRMPX Blackrock ModeratePairCorr
  0.68BRMKX Blackrock Midcap IndexPairCorr
  0.86MKYHX Blackrock High YieldPairCorr

Related Correlations Analysis

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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   
BDBPXUAPIX
VVSCXUAPIX
VVSCXBDBPX
VVSCXFCPVX
FCPVXUAPIX
FCPVXBDBPX
  
High negative correlations   
AZBAXESCIX
ESCIXBDBPX
ESCIXUAPIX
VVSCXESCIX
ESCIXFCPVX

Risk-Adjusted Indicators

There is a big difference between Bats Mutual Fund performing well and Bats Series 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 Bats Series' 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.