Blackrock Muniyield Correlations

MYN Fund

USD 10.19 0.04 0.39%

The current 90-days correlation between Blackrock Muniyield New and Eaton Vance National is 0.6 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Blackrock Muniyield moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Blackrock Muniyield New moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Blackrock Muniyield Correlation With Market

Good diversification

The correlation between Blackrock Muniyield New and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Muniyield New 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 Muniyield New. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Blackrock Fund

0.81	ZTR	Virtus Global Dividend	Pair Corr
0.86	PCQ	Pimco California Mun	Pair Corr
0.67	RIV	Rivernorth Opportunities	Pair Corr
0.64	ABWYX	Ab All Market	Pair Corr
0.65	BMRRX	Blackrock Mid Cap	Pair Corr

Moving against Blackrock Fund

0.68	JSOCX	Jpmorgan Strategic Income	Pair Corr
0.48	DAAIX	Dunham Appreciation	Pair Corr

Related Correlations Analysis

	CXH	CBH	IHTA	EOT	FMN	MHN	MUI	NMCO	NAN	KTF
CXH		0.0	0.0	0.82	0.82	0.85	0.63	0.71	0.61	0.85	CXH
CBH	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CBH
IHTA	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	IHTA
EOT	0.82	0.0	0.0		0.78	0.86	0.69	0.71	0.66	0.9	EOT
FMN	0.82	0.0	0.0	0.78		0.84	0.56	0.72	0.57	0.79	FMN
MHN	0.85	0.0	0.0	0.86	0.84		0.66	0.74	0.65	0.95	MHN
MUI	0.63	0.0	0.0	0.69	0.56	0.66		0.21	0.16	0.64	MUI
NMCO	0.71	0.0	0.0	0.71	0.72	0.74	0.21		0.92	0.74	NMCO
NAN	0.61	0.0	0.0	0.66	0.57	0.65	0.16	0.92		0.65	NAN
KTF	0.85	0.0	0.0	0.9	0.79	0.95	0.64	0.74	0.65		KTF
	CXH	CBH	IHTA	EOT	FMN	MHN	MUI	NMCO	NAN	KTF

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

KTF	+ 0.95	MHN
NAN	+ 0.92	NMCO
KTF	+ 0.9	EOT
MHN	+ 0.86	EOT
MHN	+ 0.85	CXH
KTF	+ 0.85	CXH

High negative correlations

KTF	- 0.0	IHTA
NAN	- 0.0	IHTA
NMCO	- 0.0	IHTA
MUI	- 0.0	IHTA
MHN	- 0.0	IHTA
FMN	- 0.0	IHTA

Risk-Adjusted Indicators

There is a big difference between Blackrock Fund performing well and Blackrock Muniyield 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 Muniyield'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
CXH	0.44	(0.01)	(0.03)	0.12	0.71	(0.41)	0.76	(1.01)	3.31
CBH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IHTA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EOT	0.49	(0.04)	0.00	9.88	0.00	0.00	0.95	(1.01)	2.89
FMN	0.42	0.00	(0.02)	0.03	0.48	(0.48)	0.74	(0.90)	2.65
MHN	0.48	0.01	0.00	0.06	0.55	(0.57)	1.13	(0.97)	2.71
MUI	0.44	(0.05)	0.00	(0.59)	0.00	0.00	0.73	(1.40)	2.48
NMCO	0.48	0.04	0.04	22.52	0.58	(0.52)	1.06	(1.21)	2.72
NAN	0.41	0.05	0.08	0.59	0.37	(0.54)	1.17	(0.69)	2.66
KTF	0.36	(0.02)	0.00	(0.10)	0.00	0.00	0.84	(0.94)	2.61

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC