Blackrock Enhanced Correlations

CII Fund

USD 22.06 0.29 1.33%

The current 90-days correlation between Blackrock Enhanced and Blackrock Enhanced Equity is 0.68 (i.e., Poor diversification). The correlation of Blackrock Enhanced 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 Enhanced Correlation With Market

Poor diversification

The correlation between Blackrock Enhanced Capital and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Enhanced Capital 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 Enhanced Capital. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with Blackrock Fund

0.89	DNP	Dnp Select Income	Pair Corr
0.9	EXG	Eaton Vance Tax	Pair Corr
0.72	NEA	Nuveen Amt Free	Pair Corr
0.81	GAB	Gabelli Equity Trust	Pair Corr
0.74	FAX	Aberdeen Asia Pacific	Pair Corr
0.78	NAD	Nuveen Dividend Advantage	Pair Corr
0.97	VTRNX	Voya Target Retirement	Pair Corr
0.91	JUSMX	Jpmorgan Small Pany	Pair Corr
0.61	GACIX	Gabelli Small	Pair Corr
0.96	CCRCX	Columbia Contrarian Core	Pair Corr
0.64	LTMDX	Mfs Lifetime 2045	Pair Corr
0.69	VWYWX	Vwywx	Pair Corr
0.95	JTSIX	Jpmorgan Smartretirement	Pair Corr
0.66	TAUSX	John Hancock Investment	Pair Corr
0.94	EEMDX	Mfs Emerging Markets	Pair Corr
0.7	MEMFX	Mfs Emerging Markets	Pair Corr
0.97	LAFFX	Lord Abbett Affiliated	Pair Corr
0.95	ANNPX	Allianzgi Vertible	Pair Corr
0.71	BGVAX	Sterling Capital Int	Pair Corr
0.68	VSAQX	Voya Solution 2065	Pair Corr
0.75	SRFNX	Sierra Tactical Risk	Pair Corr
0.66	JABPX	John Hancock Funds	Pair Corr
0.67	IISAX	Voya Index Solution	Pair Corr
0.97	ENGCX	Cboe Vest Sp	Pair Corr
0.98	FTOKX	Oklahoma College Savings	Pair Corr
0.75	CEMDX	Cullen Emerging Markets	Pair Corr
0.65	EIGIX	Eaton Vance Core	Pair Corr
0.96	CIISX	Causeway International	Pair Corr
0.94	EVTMX	Eaton Vance Dividend	Pair Corr
0.96	MWUSX	Metropolitan West Ultra	Pair Corr

Related Correlations Analysis

	BDJ	BUI	BMEZ	BLW	BCAT	BOE	BGY	ETY
BDJ		0.93	-0.01	0.93	0.91	0.95	0.35	0.96	BDJ
BUI	0.93		-0.17	0.95	0.89	0.95	0.26	0.96	BUI
BMEZ	-0.01	-0.17		-0.15	0.03	-0.12	-0.03	-0.11	BMEZ
BLW	0.93	0.95	-0.15		0.92	0.91	0.19	0.97	BLW
BCAT	0.91	0.89	0.03	0.92		0.87	0.19	0.95	BCAT
BOE	0.95	0.95	-0.12	0.91	0.87		0.46	0.94	BOE
BGY	0.35	0.26	-0.03	0.19	0.19	0.46		0.24	BGY
ETY	0.96	0.96	-0.11	0.97	0.95	0.94	0.24		ETY
	BDJ	BUI	BMEZ	BLW	BCAT	BOE	BGY	ETY

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

ETY	+ 0.97	BLW
ETY	+ 0.96	BDJ
ETY	+ 0.96	BUI
BOE	+ 0.95	BDJ
BLW	+ 0.95	BUI
BOE	+ 0.95	BUI

High negative correlations

BMEZ	- 0.17	BUI
BLW	- 0.15	BMEZ
BOE	- 0.12	BMEZ
ETY	- 0.11	BMEZ
BGY	- 0.03	BMEZ
BMEZ	- 0.01	BDJ

Risk-Adjusted Indicators

There is a big difference between Blackrock Fund performing well and Blackrock Enhanced 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 Enhanced'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
BDJ	0.56	0.01	(0.01)	0.11	0.63	(0.61)	1.18	(1.24)	3.17
BUI	0.47	0.15	0.15	0.50	0.20	(0.55)	1.37	(0.77)	2.72
BMEZ	0.66	(0.04)	(0.09)	0.01	0.89	(0.62)	1.51	(1.43)	3.58
BLW	0.25	0.03	(0.22)	0.38	0.06	(0.35)	0.64	(0.36)	1.65
BCAT	0.48	0.04	(0.02)	0.17	0.45	(0.54)	1.01	(0.91)	2.40
BOE	0.43	0.01	(0.06)	0.12	0.39	(0.53)	1.06	(0.78)	2.85
BGY	0.58	(0.01)	(0.10)	0.07	0.58	(0.68)	1.24	(0.90)	2.64
ETY	0.50	0.06	0.03	0.18	0.37	(0.56)	1.22	(0.74)	3.02

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