Blackrock Tactical Correlations

PBAIX Fund

USD 15.02 0.16 1.05%

The current 90-days correlation between Blackrock Tactical and Fidelity Sai Convertible is -0.04 (i.e., Good diversification). The correlation of Blackrock Tactical 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 Tactical Correlation With Market

Significant diversification

The correlation between Blackrock Tactical Opportuniti and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Tactical Opportuniti and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Blackrock Tactical Opportunities. 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 gross domestic product.

Moving together with BLACKROCK Mutual Fund

0.8	MKEFX	Blackrock Eurofund Class Steady Growth	Pair Corr
0.7	MKILX	Blackrock International	Pair Corr
1.0	BRBCX	Blackrock Tactical	Pair Corr
0.84	BRASX	Bats Series S	Pair Corr
0.75	BRHYX	Blackrock Hi Yld	Pair Corr
0.72	BROKX	Blackrock Advantage	Pair Corr

Moving against BLACKROCK Mutual Fund

0.39	MKECX	Blackrock Funds	Pair Corr
0.33	BRAPX	Blackrock Aggressive	Pair Corr
0.58	BRECX	Blackrock International	Pair Corr
0.56	BREAX	Blackrock International	Pair Corr
0.41	BREKX	Blackrock International	Pair Corr
0.33	BRGPX	Blackrock Gwth Prepared	Pair Corr
0.33	BAAPX	Blackrock Aggressive	Pair Corr

Related Correlations Analysis

	FSAWX	VAADX	MCFCX	LCFTX	FCSKX	CONOX
FSAWX		0.23	-0.07	0.53	-0.25	-0.04	FSAWX
VAADX	0.23		0.82	0.9	0.76	0.93	VAADX
MCFCX	-0.07	0.82		0.72	0.89	0.93	MCFCX
LCFTX	0.53	0.9	0.72		0.61	0.81	LCFTX
FCSKX	-0.25	0.76	0.89	0.61		0.89	FCSKX
CONOX	-0.04	0.93	0.93	0.81	0.89		CONOX
	FSAWX	VAADX	MCFCX	LCFTX	FCSKX	CONOX

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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

CONOX	+ 0.93	VAADX
CONOX	+ 0.93	MCFCX
LCFTX	+ 0.9	VAADX
FCSKX	+ 0.89	MCFCX
CONOX	+ 0.89	FCSKX
MCFCX	+ 0.82	VAADX

High negative correlations

FCSKX	- 0.25	FSAWX
MCFCX	- 0.07	FSAWX
CONOX	- 0.04	FSAWX

Risk-Adjusted Indicators

There is a big difference between BLACKROCK Mutual Fund performing well and Blackrock Tactical 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 Tactical'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
FSAWX	0.08	0.00	0.32	0.00	0.00	(0.14)	0.19	(0.10)	0.38
VAADX	0.57	0.04	0.05	0.11	0.72	(0.61)	1.13	(0.97)	3.84
MCFCX	0.24	(0.02)	0.00	(0.08)	0.00	0.00	0.48	(0.47)	1.80
LCFTX	0.53	0.07	0.09	0.24	0.61	(0.56)	1.09	(1.03)	3.65
FCSKX	0.44	0.00	(0.01)	(0.01)	0.69	(0.41)	0.76	(0.80)	3.46
CONOX	0.52	0.01	0.01	0.03	0.68	(0.54)	1.07	(0.88)	3.63

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