Blackrock Floating Correlations

BFRAX Fund  USD 9.69  0.01  0.10%   
The current 90-days correlation between Blackrock Floating Rate and Blackrock California Municipal is 0.09 (i.e., Significant diversification). The correlation of Blackrock Floating 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 Floating Correlation With Market

Good diversification

The correlation between Blackrock Floating Rate and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Floating Rate 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 Floating Rate. 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

  0.64MKFOX Blackrock Large CapPairCorr
  0.8BRBCX Blackrock TacticalPairCorr
  0.96BRASX Bats Series SPairCorr
  0.65BRHYX Blackrock Hi YldPairCorr

Moving against Blackrock Mutual Fund

  0.78MKECX Blackrock FundsPairCorr
  0.77MKDCX Blackrock EmergingPairCorr
  0.7MKGCX Blackrock AdvantagePairCorr
  0.6MKDVX Blackrock Equity DividendPairCorr
  0.55BRAPX Blackrock AggressivePairCorr
  0.44MKCPX Blackrock BalancedPairCorr
  0.31MKLOX Blackrock Global AllPairCorr
  0.85BREAX Blackrock InternationalPairCorr
  0.79BRECX Blackrock InternationalPairCorr
  0.74BREKX Blackrock InternationalPairCorr
  0.56BRGPX Blackrock Gwth PreparedPairCorr
  0.49MKSCX Blackrock FundsPairCorr
  0.68BABDX Blackrock Gbl DividendPairCorr
  0.54BAAPX Blackrock AggressivePairCorr
  0.37BRMIX Blackrock Midcap IndexPairCorr
  0.37BRMAX Blackrock Midcap IndexPairCorr
  0.37BRMKX Blackrock Midcap IndexPairCorr
  0.31BADEX Blackrock DefensivePairCorr

Related Correlations Analysis

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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   
MKGCXMKDVX
BRAPXMKCPX
MKDCXMKECX
MKGCXMKECX
MKECXMKCPX
BRAPXMKECX
  
High negative correlations   
MKFOXMKECX
MKFOXMKGCX
MKFOXMKDCX
MKFOXMKDVX
BRAPXMKEFX
MKGCXMKEFX

Risk-Adjusted Indicators

There is a big difference between Blackrock Mutual Fund performing well and Blackrock Floating 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 Floating'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MKCMX  0.14  0.00 (0.31) 0.03  0.15 
 0.42 
 1.09 
MKCPX  0.38 (0.05) 0.00 (0.13) 0.00 
 0.77 
 3.37 
MKEFX  0.73  0.05 (0.03) 2.48  0.96 
 1.63 
 4.41 
MKECX  0.72 (0.17) 0.00 (0.25) 0.00 
 1.14 
 4.38 
MKDCX  0.67 (0.12) 0.00 (0.67) 0.00 
 1.41 
 4.20 
MKDVX  0.59 (0.09) 0.00 (0.13) 0.00 
 1.15 
 7.49 
MKGCX  0.73 (0.17) 0.00 (0.30) 0.00 
 1.14 
 12.71 
MKFOX  0.97  0.09  0.00 (1.31) 1.42 
 1.83 
 6.74 
MKILX  0.61  0.04 (0.03) 0.24  0.77 
 1.32 
 4.20 
BRAPX  0.58 (0.09) 0.00 (0.25) 0.00 
 1.04 
 7.07