Blackrock Muniholdings Correlations

MHD Fund

USD 11.75 0.08 0.68%

The current 90-days correlation between Blackrock Muniholdings and Blackrock Muniyield Quality is 0.77 (i.e., Poor diversification). The correlation of Blackrock Muniholdings 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.

Blackrock Muniholdings Correlation With Market

Average diversification

The correlation between Blackrock Muniholdings Closed 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 Blackrock Muniholdings Closed and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Blackrock Muniholdings Closed. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Blackrock Fund

0.66	UTG	Reaves Utility If	Pair Corr
0.72	GDV	Gabelli Dividend Income	Pair Corr
0.69	RNP	Cohen Steers Reit	Pair Corr
0.65	GIOIX	Guggenheim Macro Opp	Pair Corr
0.65	HTD	John Hancock Tax	Pair Corr
0.84	PGLSX	Global Multi Strategy	Pair Corr
0.69	DLDFX	Destinations Low Duration	Pair Corr
0.79	HWACX	Hotchkis Wiley Value	Pair Corr
0.7	TIMUX	Transamerica Intermediate	Pair Corr
0.77	DBIWX	Dws Global Macro	Pair Corr

Moving against Blackrock Fund

0.5

IIF

Morgan Stanley India

Pair Corr

Related Correlations Analysis

	MQY	MYI	DTF	MVT	MHD	MQT	MVF	KTF	CMU
MQY		0.84	0.78	0.86	0.85	0.91	0.82	0.83	0.77	MQY
MYI	0.84		0.73	0.92	0.88	0.87	0.91	0.73	0.71	MYI
DTF	0.78	0.73		0.84	0.82	0.83	0.79	0.67	0.8	DTF
MVT	0.86	0.92	0.84		0.91	0.91	0.95	0.74	0.8	MVT
MHD	0.85	0.88	0.82	0.91		0.86	0.93	0.71	0.66	MHD
MQT	0.91	0.87	0.83	0.91	0.86		0.84	0.77	0.79	MQT
MVF	0.82	0.91	0.79	0.95	0.93	0.84		0.71	0.73	MVF
KTF	0.83	0.73	0.67	0.74	0.71	0.77	0.71		0.82	KTF
CMU	0.77	0.71	0.8	0.8	0.66	0.79	0.73	0.82		CMU
	MQY	MYI	DTF	MVT	MHD	MQT	MVF	KTF	CMU

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Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Blackrock Fund performing well and Blackrock Muniholdings 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 Blackrock Muniholdings' 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
MQY	0.49	(0.03)	0.00	(0.17)	0.00	0.00	1.04	(0.85)	2.85
MYI	0.51	0.00	0.01	0.01	0.59	(0.61)	1.09	(1.09)	3.13
DTF	0.31	0.01	0.03	0.31	0.45	(0.33)	0.72	(0.62)	1.64
MVT	0.52	0.01	0.01	0.03	0.63	(0.62)	0.95	(1.15)	3.47
MHD	0.48	(0.01)	0.00	(0.13)	0.00	0.00	0.94	(1.02)	2.80
MQT	0.50	0.00	0.00	0.00	0.59	(0.54)	1.28	(1.07)	3.03
MVF	0.52	0.00	0.01	0.02	0.66	(0.56)	1.12	(1.13)	3.98
KTF	0.35	(0.03)	0.00	0.45	0.00	0.00	0.75	(0.95)	2.76
CMU	0.40	0.00	0.00	0.00	0.48	(0.46)	0.86	(0.85)	2.25

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