BlackRock Long Correlations

BTA Stock

USD 10.32 0.04 0.39%

The current 90-days correlation between BlackRock Long Term and DTF Tax Free is 0.39 (i.e., Weak diversification). The correlation of BlackRock Long 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 Long Correlation With Market

Modest diversification

The correlation between BlackRock Long Term Municipal and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BlackRock Long Term Municipal 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 Long Term Municipal. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving against BlackRock Stock

0.34	WAVS	Western Acquisition	Pair Corr
0.33	IPXXU	Inflection Point Acq	Pair Corr
0.35	AB	AllianceBernstein	Pair Corr
0.45	KB	KB Financial Group	Pair Corr
0.45	LC	LendingClub Corp	Pair Corr

Related Correlations Analysis

	DTF	CMU	CXE	JHS	MQT	IHTA	MQY	MFM	MYD	BLE
DTF		0.27	0.07	-0.04	0.16	0.4	0.09	0.23	0.43	0.06	DTF
CMU	0.27		0.79	0.63	0.7	0.16	0.86	0.74	0.8	0.72	CMU
CXE	0.07	0.79		0.7	0.89	-0.1	0.94	0.85	0.84	0.83	CXE
JHS	-0.04	0.63	0.7		0.62	-0.01	0.72	0.48	0.6	0.61	JHS
MQT	0.16	0.7	0.89	0.62		-0.23	0.89	0.89	0.85	0.89	MQT
IHTA	0.4	0.16	-0.1	-0.01	-0.23		-0.14	-0.15	0.07	-0.42	IHTA
MQY	0.09	0.86	0.94	0.72	0.89	-0.14		0.87	0.86	0.85	MQY
MFM	0.23	0.74	0.85	0.48	0.89	-0.15	0.87		0.83	0.79	MFM
MYD	0.43	0.8	0.84	0.6	0.85	0.07	0.86	0.83		0.76	MYD
BLE	0.06	0.72	0.83	0.61	0.89	-0.42	0.85	0.79	0.76		BLE
	DTF	CMU	CXE	JHS	MQT	IHTA	MQY	MFM	MYD	BLE

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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

MQY	+ 0.94	CXE
MQT	+ 0.89	CXE
MQY	+ 0.89	MQT
MFM	+ 0.89	MQT
BLE	+ 0.89	MQT
MFM	+ 0.87	MQY

High negative correlations

BLE	- 0.42	IHTA
IHTA	- 0.23	MQT
MFM	- 0.15	IHTA
MQY	- 0.14	IHTA
IHTA	- 0.1	CXE
JHS	- 0.04	DTF

Risk-Adjusted Indicators

There is a big difference between BlackRock Stock performing well and BlackRock Long 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 Long'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
DTF	0.23	0.00	(0.27)	0.06	0.26	(0.28)	0.54	(0.36)	1.96
CMU	0.38	0.01	(0.11)	0.25	0.42	(0.51)	0.85	(0.84)	2.54
CXE	0.50	(0.01)	(0.13)	0.00	0.57	(0.63)	1.33	(1.04)	3.34
JHS	0.28	(0.02)	(0.19)	(0.01)	0.39	(0.32)	0.61	(0.60)	3.04
MQT	0.43	(0.03)	0.00	(0.14)	0.00	0.00	0.87	(0.92)	2.73
IHTA	0.24	0.06	(0.05)	1.66	0.26	(0.30)	0.68	(0.28)	2.03
MQY	0.39	(0.01)	0.00	1.48	0.00	0.00	0.81	(1.07)	2.74
MFM	0.45	0.01	0.00	0.06	0.00	0.00	0.89	(1.06)	2.71
MYD	0.49	0.01	(0.12)	0.21	0.54	(0.56)	1.08	(1.06)	2.65
BLE	0.44	(0.04)	0.00	(0.49)	0.00	0.00	0.75	(1.01)	2.35

BlackRock Long Corporate Management

Henry Gabbay	Independent Trustee	Profile
CFA CFA	Portfolio Mang	Profile
Robert Hubbard	Independent Trustee	Profile
Charles Park	Chief Compliance Officer and Anti- Money Laundering Officer	Profile
Frank Fabozzi	Independent Trustee	Profile

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