Bats Series Correlations

BRASX Fund

USD 9.23 0.02 0.22%

The current 90-days correlation between Bats Series S and Glg Intl Small is -0.05 (i.e., Good 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

Significant diversification

The correlation between Bats Series S and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bats Series S 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 S. 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 state.

Moving together with Bats Mutual Fund

0.87	BRAMX	Bats Series M	Pair Corr
0.63	MKNKX	Blackrock New York	Pair Corr
0.63	MKNJX	Blackrock New Jersey	Pair Corr
0.65	BRCPX	Blackrock Conservative	Pair Corr
0.72	BROKX	Blackrock Advantage	Pair Corr
0.68	BROCX	Backrock Glbl Opprtnts	Pair Corr
0.67	BACPX	Blackrock Conservative	Pair Corr
0.69	BARDX	Blackrock Developed Real	Pair Corr
0.65	BATAX	Blackrock Allocation	Pair Corr
0.86	BASTX	Blackrock Sustainable	Pair Corr
0.81	BBGPX	Blackrock Gnma Ptf	Pair Corr

Moving against Bats Mutual Fund

0.75	MKFOX	Blackrock Large Cap	Pair Corr
0.38	BRGNX	Blckrck Fdsiii Rssll	Pair Corr
0.53	BRMAX	Blackrock Midcap Index	Pair Corr
0.52	BRMIX	Blackrock Midcap Index	Pair Corr
0.45	MKSPX	Blackrock Advantage Total	Pair Corr
0.33	BAAPX	Blackrock Aggressive	Pair Corr

Related Correlations Analysis

	GLVIX	HSCVX	CIPNX	CCMSX	SECAX	QLMSTX
GLVIX		0.78	0.82	0.0	0.74	0.87	GLVIX
HSCVX	0.78		0.98	0.0	0.98	0.96	HSCVX
CIPNX	0.82	0.98		0.0	0.97	0.95	CIPNX
CCMSX	0.0	0.0	0.0		0.0	0.0	CCMSX
SECAX	0.74	0.98	0.97	0.0		0.95	SECAX
QLMSTX	0.87	0.96	0.95	0.0	0.95		QLMSTX
	GLVIX	HSCVX	CIPNX	CCMSX	SECAX	QLMSTX

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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

CIPNX	+ 0.98	HSCVX
SECAX	+ 0.98	HSCVX
SECAX	+ 0.97	CIPNX
QLMSTX	+ 0.96	HSCVX
QLMSTX	+ 0.95	CIPNX
QLMSTX	+ 0.95	SECAX

High negative correlations

QLMSTX	- 0.0	CCMSX
SECAX	- 0.0	CCMSX
CCMSX	- 0.0	CIPNX
CCMSX	- 0.0	HSCVX
CCMSX	- 0.0	GLVIX

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
GLVIX	0.92	0.01	(0.06)	1.53	(2.12)	5.60
HSCVX	0.76	(0.02)	(0.10)	1.45	(1.78)	3.38
CIPNX	0.87	(0.05)	(0.13)	1.52	(2.00)	4.80
CCMSX	0.00	0.00	0.00	0.00	0.00	0.00
SECAX	0.91	(0.04)	(0.12)	1.84	(2.57)	4.65
QLMSTX	1.03	(0.02)	(0.10)	1.75	(2.77)	5.65

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