Blackrock Commodity Correlations

BICSX Fund

USD 8.72 0.07 0.81%

The current 90-days correlation between Blackrock Commodity and T Rowe Price is -0.08 (i.e., Good diversification). The correlation of Blackrock Commodity 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 Commodity Correlation With Market

Average diversification

The correlation between Blackrock Commodity Strategies and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Commodity Strategies 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 Commodity Strategies. 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 state.

Moving together with Blackrock Mutual Fund

0.69

MKDCX

Blackrock Emerging

Pair Corr

Moving against Blackrock Mutual Fund

0.32	MKMTX	Blackrock Strategic	Pair Corr
0.31	MKNKX	Blackrock New York	Pair Corr

Related Correlations Analysis

	PRFHX	CFNLX	TMNIX	GABTX	OWMBX
PRFHX		0.96	0.89	0.11	0.86	PRFHX
CFNLX	0.96		0.9	-0.04	0.94	CFNLX
TMNIX	0.89	0.9		0.06	0.94	TMNIX
GABTX	0.11	-0.04	0.06		-0.15	GABTX
OWMBX	0.86	0.94	0.94	-0.15		OWMBX
	PRFHX	CFNLX	TMNIX	GABTX	OWMBX

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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

CFNLX	+ 0.96	PRFHX
OWMBX	+ 0.94	CFNLX
OWMBX	+ 0.94	TMNIX
TMNIX	+ 0.9	CFNLX
TMNIX	+ 0.89	PRFHX
OWMBX	+ 0.86	PRFHX

High negative correlations

OWMBX	- 0.15	GABTX
GABTX	- 0.04	CFNLX

Risk-Adjusted Indicators

There is a big difference between Blackrock Mutual Fund performing well and Blackrock Commodity 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 Commodity'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
PRFHX	0.15	0.01	(0.28)	0.04	0.24	(0.22)	0.44	(0.44)	1.61
CFNLX	0.12	0.00	(0.45)	0.10	0.19	(0.16)	0.22	(0.32)	1.13
TMNIX	0.15	(0.01)	(0.25)	0.04	0.24	(0.21)	0.37	(0.36)	1.65
GABTX	0.49	0.13	0.05	1.27	0.35	(0.57)	1.09	(1.00)	3.01
OWMBX	0.11	(0.01)	(0.49)	(0.14)	0.15	(0.16)	0.26	(0.26)	0.87

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