BlackRock Municipal Correlations

BYM Stock

USD 11.48 0.07 0.61%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as BlackRock Municipal moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BlackRock Municipal Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

BlackRock Municipal Correlation With Market

Average diversification

The correlation between BlackRock Municipal Income and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BlackRock Municipal Income 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 Municipal Income. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with BlackRock Stock

0.69	RM	Regional Management Corp	Pair Corr
0.88	WU	Western Union	Pair Corr
0.63	XP	Xp Inc	Pair Corr

Moving against BlackRock Stock

0.86	LC	LendingClub Corp	Pair Corr
0.79	MS	Morgan Stanley Fiscal Year End 21st of January 2025	Pair Corr
0.74	BX	Blackstone Group Normal Trading	Pair Corr
0.74	GS	Goldman Sachs Group Fiscal Year End 21st of January 2025	Pair Corr
0.72	DIST	Distoken Acquisition	Pair Corr
0.69	V	Visa Class A	Pair Corr
0.69	AB	AllianceBernstein	Pair Corr
0.67	CG	Carlyle Group	Pair Corr
0.61	MA	Mastercard	Pair Corr
0.58	BN	Brookfield Corp	Pair Corr
0.57	PX	P10 Inc	Pair Corr
0.54	LX	Lexinfintech Holdings	Pair Corr
0.53	AC	Associated Capital	Pair Corr
0.48	MC	Moelis	Pair Corr
0.42	DHIL	Diamond Hill Investment	Pair Corr
0.76	SF	Stifel Financial Earnings Call Tomorrow	Pair Corr
0.72	QD	Qudian Inc	Pair Corr
0.72	VCTR	Victory Capital Holdings Normal Trading	Pair Corr
0.69	WT	WisdomTree	Pair Corr
0.69	DYCQ	DT Cloud Acquisition	Pair Corr
0.66	DUET	DUET Acquisition Corp	Pair Corr
0.52	VIRT	Virtu Financial Fiscal Year End 23rd of January 2025	Pair Corr
0.44	TW	Tradeweb Markets	Pair Corr
0.42	GCMGW	GCM Grosvenor	Pair Corr
0.42	VINP	Vinci Partners Inves	Pair Corr
0.89	EMCG	Embrace Change Acqui	Pair Corr
0.78	TETEU	Technology Telecommunicatio	Pair Corr
0.75	VRTS	Virtus Investment	Pair Corr
0.74	ENVA	Enova International	Pair Corr

Related Correlations Analysis

	PWUP	AUROW	444859BR2	AQUI	BRRAY	MSTSX	ABHYX	LBHIX	SCAXF	VIASP
PWUP		0.39	-0.22	0.0	-0.43	0.59	0.59	0.47	0.12	-0.33	PWUP
AUROW	0.39		-0.68	0.0	-0.47	0.75	0.1	0.58	-0.3	0.22	AUROW
444859BR2	-0.22	-0.68		0.0	0.35	-0.54	-0.1	-0.58	0.39	-0.37	444859BR2
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.43	-0.47	0.35	0.0		-0.47	-0.41	-0.37	-0.04	0.1	BRRAY
MSTSX	0.59	0.75	-0.54	0.0	-0.47		0.34	0.67	0.02	-0.11	MSTSX
ABHYX	0.59	0.1	-0.1	0.0	-0.41	0.34		0.53	-0.03	-0.2	ABHYX
LBHIX	0.47	0.58	-0.58	0.0	-0.37	0.67	0.53		-0.27	0.19	LBHIX
SCAXF	0.12	-0.3	0.39	0.0	-0.04	0.02	-0.03	-0.27		-0.79	SCAXF
VIASP	-0.33	0.22	-0.37	0.0	0.1	-0.11	-0.2	0.19	-0.79		VIASP
	PWUP	AUROW	444859BR2	AQUI	BRRAY	MSTSX	ABHYX	LBHIX	SCAXF	VIASP

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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

MSTSX	+ 0.75	AUROW
LBHIX	+ 0.67	MSTSX
MSTSX	+ 0.59	PWUP
ABHYX	+ 0.59	PWUP
LBHIX	+ 0.58	AUROW
LBHIX	+ 0.53	ABHYX

High negative correlations

VIASP	- 0.79	SCAXF
444859BR2	- 0.68	AUROW
LBHIX	- 0.58	444859BR2
MSTSX	- 0.54	444859BR2
MSTSX	- 0.47	BRRAY
BRRAY	- 0.47	AUROW

Risk-Adjusted Indicators

There is a big difference between BlackRock Stock performing well and BlackRock Municipal 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 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
PWUP	1.20	0.08	(0.01)	(0.47)	2.43	(2.40)	4.50	(4.59)	20.77
AUROW	8.51	1.53	0.22	0.36	7.95	(11.88)	24.32	(11.84)	99.11
444859BR2	1.31	0.03	0.00	0.07	0.00	0.00	5.93	(4.56)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.48	(0.05)	(0.15)	0.04	0.53	(0.58)	1.03	(1.02)	2.80
ABHYX	0.17	0.00	(0.25)	0.08	0.26	(0.23)	0.34	(0.33)	1.91
LBHIX	0.11	0.01	(0.40)	0.46	0.00	(0.29)	0.24	(0.24)	0.96
SCAXF	0.70	(0.41)	0.00	(0.99)	0.00	0.00	0.00	0.00	23.47
VIASP	0.74	0.08	(0.03)	(2.22)	1.13	(0.80)	2.28	(1.20)	7.18

BlackRock Municipal 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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