Blackrock Muniholdings Correlations

XMUJX Fund

USD 12.72 0.01 0.08%

The current 90-days correlation between Blackrock Muniholdings and Vanguard Total Stock is 0.09 (i.e., Significant 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Blackrock Muniholdings Correlation With Market

Average diversification

The correlation between Blackrock Muniholdings New and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Muniholdings New and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Blackrock Muniholdings New. 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 inflation.

Moving together with Blackrock Mutual Fund

0.72	VGTSX	Vanguard Total Inter	Pair Corr
0.69	VTIAX	Vanguard Total Inter	Pair Corr
0.63	PFHCX	Pacific Funds Small	Pair Corr
0.62	NHS	Neuberger Berman High	Pair Corr

Moving against Blackrock Mutual Fund

0.51	JPHCX	Jpmorgan Floating Rate	Pair Corr
0.45	DLFRX	Doubleline Floating Rate	Pair Corr
0.41	GSFRX	Goldman Sachs High	Pair Corr
0.4	WACXX	Western Asset Premier	Pair Corr
0.38	FATIX	Fidelity Advisor Tec	Pair Corr
0.36	FGXXX	First American Funds	Pair Corr
0.33	VIGIX	Vanguard Growth Index	Pair Corr
0.32	VRLCX	Voya Large Cap	Pair Corr
0.32	BTCYX	Cboe Vest Bitcoin	Pair Corr
0.58	SRPSX	Short Real Estate Steady Growth	Pair Corr
0.37	PLVYX	Pace Large Value	Pair Corr
0.37	PCBAX	Blackrock Tactical	Pair Corr
0.34	TFAIX	T Rowe Price	Pair Corr
0.32	ADX	Adams Diversified Equity	Pair Corr

Related Correlations Analysis

	VTSAX	VFIAX	VTSMX	VITSX	VSTSX	VSMPX	VFINX	VFFSX	VGTSX	VTIAX
VTSAX		0.94	1.0	1.0	1.0	1.0	0.94	1.0	-0.6	-0.62	VTSAX
VFIAX	0.94		0.94	0.94	0.94	0.94	1.0	0.94	-0.62	-0.64	VFIAX
VTSMX	1.0	0.94		1.0	1.0	1.0	0.94	1.0	-0.59	-0.61	VTSMX
VITSX	1.0	0.94	1.0		1.0	1.0	0.94	1.0	-0.59	-0.61	VITSX
VSTSX	1.0	0.94	1.0	1.0		1.0	0.94	1.0	-0.6	-0.61	VSTSX
VSMPX	1.0	0.94	1.0	1.0	1.0		0.94	1.0	-0.6	-0.61	VSMPX
VFINX	0.94	1.0	0.94	0.94	0.94	0.94		0.94	-0.62	-0.64	VFINX
VFFSX	1.0	0.94	1.0	1.0	1.0	1.0	0.94		-0.59	-0.6	VFFSX
VGTSX	-0.6	-0.62	-0.59	-0.59	-0.6	-0.6	-0.62	-0.59		0.99	VGTSX
VTIAX	-0.62	-0.64	-0.61	-0.61	-0.61	-0.61	-0.64	-0.6	0.99		VTIAX
	VTSAX	VFIAX	VTSMX	VITSX	VSTSX	VSMPX	VFINX	VFFSX	VGTSX	VTIAX

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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

VTSMX	+ 1.0	VTSAX
VITSX	+ 1.0	VTSAX
VSTSX	+ 1.0	VTSAX
VSMPX	+ 1.0	VTSAX
VFFSX	+ 1.0	VTSAX
VFINX	+ 1.0	VFIAX

High negative correlations

VTIAX	- 0.64	VFINX
VTIAX	- 0.64	VFIAX
VGTSX	- 0.62	VFINX
VGTSX	- 0.62	VFIAX
VTIAX	- 0.62	VTSAX
VTIAX	- 0.61	VSMPX

Risk-Adjusted Indicators

There is a big difference between Blackrock Mutual Fund performing well and Blackrock Muniholdings 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 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
VTSAX	0.56	0.05	0.05	0.09	0.75	(0.58)	1.08	(0.95)	5.94
VFIAX	0.51	0.06	0.03	0.88	0.73	(0.50)	0.97	(0.96)	5.48
VTSMX	0.55	0.05	0.05	0.09	0.75	(0.58)	1.08	(0.94)	5.94
VITSX	0.55	0.05	0.05	0.09	0.75	(0.58)	1.08	(0.95)	5.95
VSTSX	0.55	0.05	0.05	0.09	0.75	(0.57)	1.09	(0.95)	5.94
VSMPX	0.55	0.05	0.05	0.09	0.75	(0.57)	1.09	(0.95)	5.94
VFINX	0.51	0.06	0.04	0.86	0.73	(0.50)	0.97	(0.96)	5.48
VFFSX	0.52	0.05	0.05	0.10	0.72	(0.52)	1.09	(0.96)	5.48
VGTSX	0.58	(0.12)	0.00	(0.38)	0.00	0.00	1.13	(1.56)	4.43
VTIAX	0.56	(0.09)	0.00	(0.25)	0.00	0.00	1.14	(1.32)	4.45

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