Blackrock High Correlations

MKYHX Fund

USD 9.30 0.03 0.32%

The current 90-days correlation between Blackrock High Yield and Nuveen High Yield is 0.85 (i.e., Very poor diversification). The correlation of Blackrock High 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 High Correlation With Market

Very good diversification

The correlation between Blackrock High Yield and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock High Yield 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 High Yield. 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 rate.

Moving together with Blackrock Mutual Fund

0.97	MKCMX	Blackrock California	Pair Corr
0.65	BRAMX	Bats Series M	Pair Corr
0.95	MKMTX	Blackrock Strategic	Pair Corr
0.67	BRACX	Bats Series C	Pair Corr
0.96	MKNKX	Blackrock New York	Pair Corr
0.9	MKNJX	Blackrock New Jersey	Pair Corr
0.66	BRCPX	Blackrock Conservative	Pair Corr
0.91	MKPYX	Blackrock Pennsylvania	Pair Corr

Moving against Blackrock Mutual Fund

0.36

BRBCX

Blackrock Tactical

Pair Corr

Related Correlations Analysis

	NHMAX	NHCCX	NHMRX	NHMFX	ABHFX	AMHIX	GHYAX
NHMAX		1.0	1.0	1.0	0.45	0.45	0.52	NHMAX
NHCCX	1.0		1.0	1.0	0.44	0.44	0.51	NHCCX
NHMRX	1.0	1.0		1.0	0.45	0.45	0.52	NHMRX
NHMFX	1.0	1.0	1.0		0.45	0.45	0.52	NHMFX
ABHFX	0.45	0.44	0.45	0.45		1.0	0.99	ABHFX
AMHIX	0.45	0.44	0.45	0.45	1.0		0.99	AMHIX
GHYAX	0.52	0.51	0.52	0.52	0.99	0.99		GHYAX
	NHMAX	NHCCX	NHMRX	NHMFX	ABHFX	AMHIX	GHYAX

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Risk-Adjusted Indicators

There is a big difference between Blackrock Mutual Fund performing well and Blackrock High 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 Blackrock High'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
NHMAX	0.25	0.01	(0.26)	0.05	0.42	(0.27)	0.61	(0.59)	2.28
NHCCX	0.25	0.01	0.00	0.08	0.00	0.00	0.60	(0.59)	2.17
NHMRX	0.25	0.01	(0.27)	0.05	0.39	(0.31)	0.61	(0.59)	2.35
NHMFX	0.26	0.01	(0.26)	0.05	0.41	(0.28)	0.61	(0.65)	2.28
ABHFX	0.16	0.03	(0.26)	(0.14)	0.24	(0.18)	0.33	(0.32)	1.50
AMHIX	0.16	0.03	(0.26)	(0.14)	0.24	(0.18)	0.33	(0.32)	1.50
GHYAX	0.18	0.02	(0.24)	(0.10)	0.23	(0.26)	0.43	(0.42)	1.72

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