Blackrock High Correlations

BHYAX Fund

USD 7.23 0.01 0.14%

The current 90-days correlation between Blackrock High Yield and Maryland Tax Free Bond is 0.32 (i.e., Weak 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

Significant diversification

The correlation between Blackrock High Yield and DJI is 0.07 (i.e., Significant 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 Trending Equities 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 nation.

Moving together with Blackrock Mutual Fund

0.66	MKCMX	Blackrock California	Pair Corr
0.79	MKCPX	Blackrock Balanced	Pair Corr
0.66	MKEAX	Mkeax	Pair Corr
0.78	MKECX	Blackrock Funds	Pair Corr
0.79	MKDCX	Blackrock Emerging	Pair Corr
0.8	BRAPX	Blackrock Aggressive	Pair Corr
0.81	MKLOX	Blackrock Global All	Pair Corr
0.74	BRCPX	Blackrock Conservative	Pair Corr
0.77	BRGNX	Blckrck Fdsiii Rssll	Pair Corr
0.72	BRGPX	Blackrock Gwth Prepared	Pair Corr
0.77	BRGAX	Blckrck Fdsiii Rssll	Pair Corr
0.85	BRIAX	Blackrock Retirement	Pair Corr
0.98	BRHYX	Blackrock Hi Yld	Pair Corr
0.86	BRICX	Blackrock Retirement	Pair Corr
0.78	BRMPX	Blackrock Moderate	Pair Corr
0.8	BAAPX	Blackrock Aggressive	Pair Corr

Moving against Blackrock Mutual Fund

0.49

BRBCX

Blackrock Tactical

Pair Corr

Related Correlations Analysis

	TFBIX	BBINX	TIMTX	PRINX	PATFX	PCMNX
TFBIX		0.98	0.99	0.97	0.95	0.99	TFBIX
BBINX	0.98		0.98	0.98	0.96	0.97	BBINX
TIMTX	0.99	0.98		0.96	0.95	0.98	TIMTX
PRINX	0.97	0.98	0.96		0.98	0.95	PRINX
PATFX	0.95	0.96	0.95	0.98		0.96	PATFX
PCMNX	0.99	0.97	0.98	0.95	0.96		PCMNX
	TFBIX	BBINX	TIMTX	PRINX	PATFX	PCMNX

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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TFBIX	0.09	0.01	(0.41)	(6.10)	(0.15)	0.30	(0.20)	0.70
BBINX	0.06	0.00	(0.62)	0.02	(0.13)	0.10	(0.10)	0.58
TIMTX	0.08	0.01	(0.49)	1.92	(0.12)	0.19	(0.09)	0.56
PRINX	0.09	0.01	(0.42)	0.70	(0.15)	0.27	(0.18)	0.72
PATFX	0.10	0.01	(0.42)	(0.84)	(0.14)	0.27	(0.18)	0.72
PCMNX	0.06	0.01	(0.56)	1.57	(0.10)	0.16	(0.08)	0.33

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