Ishares Municipal Correlations

BIDPX Fund

USD 10.99 0.01 0.09%

The current 90-days correlation between Ishares Municipal Bond and Blackrock Pa Muni is 0.26 (i.e., Modest diversification). The correlation of Ishares Municipal 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.

Ishares Municipal Correlation With Market

Average diversification

The correlation between Ishares Municipal Bond and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ishares Municipal Bond 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 Ishares Municipal Bond. 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 american community survey.

Moving together with Ishares Mutual Fund

0.95	MKCMX	Blackrock California	Pair Corr
0.69	MKCPX	Blackrock Balanced	Pair Corr
0.81	BRAMX	Bats Series M	Pair Corr
0.91	MKMTX	Blackrock Strategic	Pair Corr
0.85	BRACX	Bats Series C	Pair Corr
0.99	MKNKX	Blackrock New York	Pair Corr
0.93	MKNJX	Blackrock New Jersey	Pair Corr
0.72	MKLOX	Blackrock Global All	Pair Corr
0.69	BRCPX	Blackrock Conservative	Pair Corr
0.99	MKPYX	Blackrock Pennsylvania	Pair Corr
0.75	BRIAX	Blackrock Retirement	Pair Corr
0.61	BRHYX	Blackrock Hi Yld	Pair Corr
0.65	MKSCX	Blackrock Funds	Pair Corr
0.71	MKSPX	Blackrock Advantage Total	Pair Corr
0.73	BRIDX	Blackrock Retirement	Pair Corr
0.73	BRIEX	Blackrock Retirement	Pair Corr
0.75	BRICX	Blackrock Retirement	Pair Corr
0.72	BRMIX	Blackrock Midcap Index	Pair Corr
0.61	MKWIX	Blackrock Strategic	Pair Corr
0.72	BRMAX	Blackrock Midcap Index	Pair Corr
0.72	BRMPX	Blackrock Moderate	Pair Corr
0.72	BRMKX	Blackrock Midcap Index	Pair Corr

Moving against Ishares Mutual Fund

0.33	BREKX	Blackrock International	Pair Corr
0.31	BRECX	Blackrock International	Pair Corr

Related Correlations Analysis

	MSPYX	LOISX	AMHIX	MSTPX	GCMVX	XDMBX	RWMIX	XVFLX	BIDPX
MSPYX		0.95	0.94	0.97	0.93	0.94	0.63	0.93	0.94	MSPYX
LOISX	0.95		0.9	0.98	0.93	0.83	0.45	0.82	0.88	LOISX
AMHIX	0.94	0.9		0.92	0.99	0.85	0.57	0.84	0.99	AMHIX
MSTPX	0.97	0.98	0.92		0.93	0.88	0.5	0.87	0.91	MSTPX
GCMVX	0.93	0.93	0.99	0.93		0.82	0.51	0.8	0.98	GCMVX
XDMBX	0.94	0.83	0.85	0.88	0.82		0.79	0.99	0.87	XDMBX
RWMIX	0.63	0.45	0.57	0.5	0.51	0.79		0.8	0.6	RWMIX
XVFLX	0.93	0.82	0.84	0.87	0.8	0.99	0.8		0.85	XVFLX
BIDPX	0.94	0.88	0.99	0.91	0.98	0.87	0.6	0.85		BIDPX
	MSPYX	LOISX	AMHIX	MSTPX	GCMVX	XDMBX	RWMIX	XVFLX	BIDPX

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Risk-Adjusted Indicators

There is a big difference between Ishares Mutual Fund performing well and Ishares Municipal 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 Ishares Municipal'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
MSPYX	0.24	(0.01)	(0.18)	(0.11)	0.36	(0.30)	0.51	(0.81)	2.03
LOISX	0.16	(0.01)	(0.22)	(0.26)	0.24	(0.20)	0.30	(0.39)	1.28
AMHIX	0.20	0.00	(0.17)	0.08	0.29	(0.22)	0.46	(0.46)	1.57
MSTPX	0.15	(0.01)	(0.23)	(0.29)	0.22	(0.19)	0.30	(0.30)	1.31
GCMVX	0.11	0.00	(0.29)	(0.10)	0.13	(0.15)	0.20	(0.30)	0.90
XDMBX	0.37	(0.04)	0.00	(0.67)	0.00	0.00	0.68	(0.92)	3.00
RWMIX	0.07	(0.03)	0.00	(2.12)	0.00	0.00	0.07	(0.22)	0.85
XVFLX	0.45	(0.05)	0.00	(0.67)	0.00	0.00	0.86	(1.19)	3.80
BIDPX	0.19	0.00	(0.18)	0.03	0.27	(0.22)	0.37	(0.45)	1.64

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