Blackrock Muniholdings Correlations

MUC Fund

USD 10.77 0.01 0.09%

The current 90-days correlation between Blackrock Muniholdings and Invesco California Value is 0.54 (i.e., Very weak 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

Very weak diversification

The correlation between Blackrock Muniholdings Ca and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Muniholdings Ca 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 Ca. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Blackrock Fund

0.89	NHS	Neuberger Berman High	Pair Corr
0.88	GIOIX	Guggenheim Macro Opp	Pair Corr
0.77	DBIWX	Dws Global Macro	Pair Corr
0.67	BISMX	Brandes International	Pair Corr
0.68	ABNOX	Ab Bond Inflation	Pair Corr
0.77	HRBDX	Harbor Bond Fund	Pair Corr
0.67	HWACX	Hotchkis Wiley Value	Pair Corr
0.8	TIMUX	Transamerica Intermediate	Pair Corr
0.66	PGLSX	Global Multi Strategy	Pair Corr
0.83	HTD	John Hancock Tax	Pair Corr
0.71	USGDX	Morgan Stanley Government	Pair Corr
0.78	VICSX	Vanguard Intermediate-ter	Pair Corr
0.88	DLDFX	Destinations Low Duration	Pair Corr

Related Correlations Analysis

	PAI	VCV	NQP	NCA	MHD	MVT	MQT	MVF	MUI	MUE
PAI		-0.05	0.74	0.83	0.29	0.65	0.75	0.5	-0.12	0.4	PAI
VCV	-0.05		0.56	-0.07	0.69	0.58	0.29	0.52	0.1	0.61	VCV
NQP	0.74	0.56		0.79	0.79	0.93	0.92	0.84	-0.05	0.81	NQP
NCA	0.83	-0.07	0.79		0.3	0.71	0.82	0.58	-0.2	0.4	NCA
MHD	0.29	0.69	0.79	0.3		0.83	0.7	0.79	0.08	0.93	MHD
MVT	0.65	0.58	0.93	0.71	0.83		0.92	0.93	0.13	0.86	MVT
MQT	0.75	0.29	0.92	0.82	0.7	0.92		0.83	0.04	0.76	MQT
MVF	0.5	0.52	0.84	0.58	0.79	0.93	0.83		0.23	0.81	MVF
MUI	-0.12	0.1	-0.05	-0.2	0.08	0.13	0.04	0.23		0.13	MUI
MUE	0.4	0.61	0.81	0.4	0.93	0.86	0.76	0.81	0.13		MUE
	PAI	VCV	NQP	NCA	MHD	MVT	MQT	MVF	MUI	MUE

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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

MVT	+ 0.93	NQP
MUE	+ 0.93	MHD
MVF	+ 0.93	MVT
MQT	+ 0.92	NQP
MQT	+ 0.92	MVT
MUE	+ 0.86	MVT

High negative correlations

MUI	- 0.2	NCA
MUI	- 0.12	PAI
NCA	- 0.07	VCV
MUI	- 0.05	NQP
VCV	- 0.05	PAI

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
PAI	0.55	0.03	0.04	0.20	0.63	(0.61)	1.21	(1.04)	3.74
VCV	0.56	0.06	0.07	0.50	0.71	(0.61)	1.52	(1.18)	4.27
NQP	0.48	0.03	0.04	0.26	0.66	(0.46)	0.86	(1.05)	3.10
NCA	0.35	0.06	0.11	0.49	0.36	(0.40)	0.70	(0.81)	1.88
MHD	0.49	(0.02)	0.00	(0.19)	0.00	0.00	0.94	(1.02)	2.80
MVT	0.51	0.05	0.07	0.34	0.57	(0.63)	0.95	(1.03)	3.47
MQT	0.47	0.05	0.09	0.36	0.46	(0.56)	1.28	(0.79)	3.03
MVF	0.52	0.05	0.06	0.33	0.60	(0.58)	1.12	(0.99)	3.98
MUI	0.39	(0.01)	(0.01)	(0.02)	0.56	(0.48)	0.67	(1.40)	3.07
MUE	0.57	(0.03)	0.00	(0.14)	0.00	0.00	1.22	(1.25)	2.77

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