BlackRock Health Correlations

BMEZ Stock

USD 15.34 0.08 0.52%

The current 90-days correlation between BlackRock Health Sciences and BlackRock Science Tech is 0.39 (i.e., Weak diversification). The correlation of BlackRock Health 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 Health Correlation With Market

Poor diversification

The correlation between BlackRock Health Sciences and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BlackRock Health Sciences 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 Health Sciences. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving against BlackRock Stock

0.39	DXCM	DexCom Inc	Pair Corr
0.36	EW	Edwards Lifesciences Corp	Pair Corr

Related Correlations Analysis

	BST	BIGZ	AIO	HFRO	BSTZ	ACV	NBXG	BCAT	BCX	ECAT
BST		0.87	0.94	-0.64	0.82	0.74	0.92	0.64	0.69	0.73	BST
BIGZ	0.87		0.96	-0.57	0.88	0.85	0.94	0.75	0.64	0.75	BIGZ
AIO	0.94	0.96		-0.66	0.9	0.83	0.95	0.71	0.65	0.72	AIO
HFRO	-0.64	-0.57	-0.66		-0.82	-0.54	-0.55	-0.29	-0.15	-0.19	HFRO
BSTZ	0.82	0.88	0.9	-0.82		0.76	0.85	0.58	0.46	0.56	BSTZ
ACV	0.74	0.85	0.83	-0.54	0.76		0.79	0.83	0.35	0.68	ACV
NBXG	0.92	0.94	0.95	-0.55	0.85	0.79		0.73	0.73	0.82	NBXG
BCAT	0.64	0.75	0.71	-0.29	0.58	0.83	0.73		0.4	0.77	BCAT
BCX	0.69	0.64	0.65	-0.15	0.46	0.35	0.73	0.4		0.67	BCX
ECAT	0.73	0.75	0.72	-0.19	0.56	0.68	0.82	0.77	0.67		ECAT
	BST	BIGZ	AIO	HFRO	BSTZ	ACV	NBXG	BCAT	BCX	ECAT

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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

AIO	+ 0.96	BIGZ
NBXG	+ 0.95	AIO
AIO	+ 0.94	BST
NBXG	+ 0.94	BIGZ
NBXG	+ 0.92	BST
BSTZ	+ 0.9	AIO

High negative correlations

BSTZ	- 0.82	HFRO
HFRO	- 0.66	AIO
HFRO	- 0.64	BST
HFRO	- 0.57	BIGZ
NBXG	- 0.55	HFRO
ACV	- 0.54	HFRO

Risk-Adjusted Indicators

There is a big difference between BlackRock Stock performing well and BlackRock Health Company 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 Health'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
BST	0.72	0.00	(0.03)	0.12	0.93	(0.71)	1.51	(1.63)	3.94
BIGZ	0.84	0.05	0.04	0.17	1.01	(0.86)	1.75	(1.59)	5.15
AIO	0.82	0.12	0.08	0.27	0.83	(0.90)	2.06	(1.38)	4.42
HFRO	0.92	(0.07)	0.00	(0.04)	0.00	0.00	1.72	(1.78)	4.82
BSTZ	0.91	0.10	0.08	0.22	0.96	(0.97)	1.65	(1.63)	4.51
ACV	0.62	0.04	0.01	0.17	0.68	(0.67)	1.46	(1.22)	4.20
NBXG	0.74	0.04	0.00	0.18	0.88	(0.75)	1.78	(1.58)	3.91
BCAT	0.46	0.00	(0.12)	0.11	0.48	(0.54)	1.10	(0.76)	2.93
BCX	0.71	(0.04)	(0.09)	0.06	0.87	(0.75)	1.49	(1.57)	4.21
ECAT	0.66	(0.06)	(0.11)	0.02	0.91	(0.61)	1.17	(1.48)	3.38

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