Bats Series Correlations

BRAMX Fund

USD 8.39 0.02 0.24%

The current 90-days correlation between Bats Series M and Western Asset High is 0.11 (i.e., Average 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 M and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bats Series M 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 M. 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 population.

Moving together with Bats Mutual Fund

0.83	MKCMX	Blackrock California	Pair Corr
0.63	MKEFX	Blackrock Eurofund Class	Pair Corr
0.74	MKILX	Blackrock International	Pair Corr
0.99	BRACX	Bats Series C	Pair Corr
0.65	MKNKX	Blackrock New York	Pair Corr
0.68	MKNJX	Blackrock New Jersey	Pair Corr
0.96	BRASX	Bats Series S	Pair Corr
0.71	BRCPX	Blackrock Conservative	Pair Corr
0.89	BROKX	Blackrock Advantage	Pair Corr
0.89	BROIX	Blackrock Glbl Opprtnts	Pair Corr
0.89	BROCX	Backrock Glbl Opprtnts	Pair Corr
0.89	BROAX	Blackrock Global Opp	Pair Corr
0.72	BACPX	Blackrock Conservative	Pair Corr
0.89	BRZAX	Blackrock Advantage Esg	Pair Corr

Moving against Bats Mutual Fund

0.57	MKFOX	Blackrock Large Cap	Pair Corr
0.71	MKSPX	Blackrock Advantage Total	Pair Corr
0.56	BRGNX	Blckrck Fdsiii Rssll	Pair Corr
0.56	BRGAX	Blckrck Fdsiii Rssll	Pair Corr
0.52	BRMAX	Blackrock Midcap Index	Pair Corr
0.51	BRMIX	Blackrock Midcap Index	Pair Corr
0.51	BRMKX	Blackrock Midcap Index	Pair Corr
0.75	BSDAX	Blackrock Smid Cap	Pair Corr
0.74	BSDKX	Blackrock Smid Cap	Pair Corr

Related Correlations Analysis

	XHYIX	WRLDX	FURYAX	FUHKBX	FTUFOX	FZNOPX
XHYIX		0.29	0.39	0.21	0.17	0.42	XHYIX
WRLDX	0.29		0.33	-0.11	0.51	0.11	WRLDX
FURYAX	0.39	0.33		0.78	-0.23	0.92	FURYAX
FUHKBX	0.21	-0.11	0.78		-0.55	0.85	FUHKBX
FTUFOX	0.17	0.51	-0.23	-0.55		-0.38	FTUFOX
FZNOPX	0.42	0.11	0.92	0.85	-0.38		FZNOPX
	XHYIX	WRLDX	FURYAX	FUHKBX	FTUFOX	FZNOPX

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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

FZNOPX	+ 0.92	FURYAX
FZNOPX	+ 0.85	FUHKBX
FUHKBX	+ 0.78	FURYAX
FTUFOX	+ 0.51	WRLDX
FZNOPX	+ 0.42	XHYIX
FURYAX	+ 0.39	XHYIX

High negative correlations

FTUFOX	- 0.55	FUHKBX
FZNOPX	- 0.38	FTUFOX
FTUFOX	- 0.23	FURYAX
FUHKBX	- 0.11	WRLDX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
XHYIX	0.16	(0.04)	0.00	1.15	0.00	0.00	0.25	(0.49)	1.31
WRLDX	0.64	(0.02)	0.00	0.10	0.00	0.00	1.24	(1.68)	2.96
FURYAX	0.69	0.02	0.00	(0.04)	0.00	0.00	1.21	(1.39)	2.96
FUHKBX	0.69	0.02	0.00	(0.05)	0.00	0.00	1.13	(1.76)	4.79
FTUFOX	0.10	0.01	0.62	0.27	0.00	(0.10)	0.20	(0.19)	0.60
FZNOPX	0.75	0.04	0.07	(0.01)	0.87	(0.83)	1.55	(1.63)	3.75

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