Blackrock Municipal Correlations

BTT Stock

USD 21.24 0.02 0.09%

The current 90-days correlation between Blackrock Municipal and Blackrock Muni Intermediate is 0.1 (i.e., Average diversification). The correlation of Blackrock Municipal 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 Municipal Correlation With Market

Average diversification

The correlation between Blackrock Municipal Target and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Municipal Target 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 Municipal Target. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Blackrock Stock

0.88	V	Visa Class A	Pair Corr
0.7	MA	Mastercard	Pair Corr
0.65	WSBF	Waterstone Financial	Pair Corr
0.74	GDST	Goldenstone Acquisition	Pair Corr
0.66	SNFCA	Security National Earnings Call Tomorrow	Pair Corr
0.8	BBDC	Barings BDC	Pair Corr
0.85	COOP	Mr Cooper Group	Pair Corr
0.84	BK	Bank of New York	Pair Corr

Moving against Blackrock Stock

0.74	ORGN	Origin Materials	Pair Corr
0.72	WD	Walker Dunlop	Pair Corr
0.56	SYF	Synchrony Financial	Pair Corr
0.42	ECPG	Encore Capital Group	Pair Corr
0.8	PYPL	PayPal Holdings Sell-off Trend	Pair Corr
0.8	BITF	Bitfarms Aggressive Push	Pair Corr
0.75	CODI	Compass Diversified	Pair Corr
0.65	DHIL	Diamond Hill Investment	Pair Corr
0.56	AX	Axos Financial	Pair Corr
0.45	SOFI	SoFi Technologies Aggressive Push	Pair Corr
0.82	LC	LendingClub Corp	Pair Corr
0.65	CM	Canadian Imperial Bank	Pair Corr
0.6	BX	Blackstone Group	Pair Corr
0.53	KB	KB Financial Group	Pair Corr
0.45	EG	Everest Group	Pair Corr
0.42	CG	Carlyle Group Normal Trading	Pair Corr

Related Correlations Analysis

	NMI	EVY	PAI	ENX	NAN	MUI	NDMO	MQY	KTF	MYI
NMI		0.0	0.8	0.84	0.87	-0.62	0.88	0.67	0.63	0.73	NMI
EVY	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	EVY
PAI	0.8	0.0		0.72	0.68	-0.7	0.67	0.57	0.56	0.63	PAI
ENX	0.84	0.0	0.72		0.88	-0.6	0.8	0.75	0.72	0.8	ENX
NAN	0.87	0.0	0.68	0.88		-0.52	0.88	0.76	0.84	0.84	NAN
MUI	-0.62	0.0	-0.7	-0.6	-0.52		-0.66	-0.58	-0.47	-0.43	MUI
NDMO	0.88	0.0	0.67	0.8	0.88	-0.66		0.81	0.75	0.77	NDMO
MQY	0.67	0.0	0.57	0.75	0.76	-0.58	0.81		0.86	0.8	MQY
KTF	0.63	0.0	0.56	0.72	0.84	-0.47	0.75	0.86		0.85	KTF
MYI	0.73	0.0	0.63	0.8	0.84	-0.43	0.77	0.8	0.85		MYI
	NMI	EVY	PAI	ENX	NAN	MUI	NDMO	MQY	KTF	MYI

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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

NDMO	+ 0.88	NMI
NAN	+ 0.88	ENX
NDMO	+ 0.88	NAN
NAN	+ 0.87	NMI
KTF	+ 0.86	MQY
MYI	+ 0.85	KTF

High negative correlations

MUI	- 0.7	PAI
NDMO	- 0.66	MUI
MUI	- 0.62	NMI
MUI	- 0.6	ENX
MQY	- 0.58	MUI
MUI	- 0.52	NAN

Risk-Adjusted Indicators

There is a big difference between Blackrock Stock performing well and Blackrock Municipal 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 Municipal'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
NMI	0.42	0.09	0.13	0.52	0.43	(0.51)	1.02	(0.83)	3.11
EVY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PAI	0.57	0.05	0.06	0.24	0.65	(0.63)	1.28	(1.06)	3.74
ENX	0.50	0.03	0.04	0.26	0.56	(0.57)	1.06	(1.03)	3.06
NAN	0.39	0.02	0.04	0.66	0.40	(0.51)	1.15	(0.61)	2.72
MUI	0.46	(0.03)	0.00	(0.41)	0.00	0.00	0.73	(1.40)	3.95
NDMO	0.38	0.00	0.00	(0.09)	0.51	(0.39)	0.79	(0.79)	1.77
MQY	0.50	(0.04)	0.00	(0.22)	0.00	0.00	1.04	(0.95)	2.85
KTF	0.35	(0.03)	0.00	(0.37)	0.00	0.00	0.75	(0.95)	2.76
MYI	0.51	0.00	0.00	0.00	0.59	(0.61)	1.09	(1.09)	3.13

Blackrock Municipal Corporate Management

Henry Gabbay	Independent Trustee	Profile
CFA CFA	Portfolio Mang	Profile
Karen Robards	Independent Vice Chairperson of the Board of Trustees	Profile
Charles Park	Chief Compliance Officer & Anti- Money Laundering Officer	Profile
Frank Fabozzi	Independent Trustee	Profile
J Holloman	Independent Trustee	Profile

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