BlackRock Municipal Correlations

BYM Stock

USD 11.11 0.04 0.36%

The current 90-days correlation between BlackRock Municipal and Munivest Fund is 0.68 (i.e., Poor diversification). 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

Weak diversification

The correlation between BlackRock Municipal Income and DJI is 0.34 (i.e., Weak 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

0.78	GAIN	Gladstone Investment	Pair Corr
0.72	CB	Chubb Earnings Call This Week	Pair Corr
0.7	EG	Everest Group	Pair Corr
0.68	IX	Orix Corp Ads	Pair Corr
0.7	KB	KB Financial Group	Pair Corr
0.63	NU	Nu Holdings Sell-off Trend	Pair Corr

Moving against BlackRock Stock

0.62	MAIN	Main Street Capital	Pair Corr
0.56	GLAD	Gladstone Capital	Pair Corr
0.46	V	Visa Class A	Pair Corr
0.45	FDUS	Fidus Investment Corp	Pair Corr
0.37	C	Citigroup Aggressive Push	Pair Corr
0.56	LX	Lexinfintech Holdings	Pair Corr
0.51	LC	LendingClub Corp Earnings Call This Week	Pair Corr
0.39	RM	Regional Management Corp Normal Trading	Pair Corr

Related Correlations Analysis

	MVF	MQT	MQY	MHD	MUE	BFK	BTZ	VKQ	BLE
MVF		0.89	0.84	0.93	0.81	0.88	0.73	0.84	0.94	MVF
MQT	0.89		0.96	0.95	0.88	0.92	0.78	0.88	0.95	MQT
MQY	0.84	0.96		0.92	0.8	0.91	0.69	0.83	0.92	MQY
MHD	0.93	0.95	0.92		0.87	0.95	0.74	0.87	0.98	MHD
MUE	0.81	0.88	0.8	0.87		0.81	0.84	0.84	0.83	MUE
BFK	0.88	0.92	0.91	0.95	0.81		0.69	0.86	0.94	BFK
BTZ	0.73	0.78	0.69	0.74	0.84	0.69		0.75	0.71	BTZ
VKQ	0.84	0.88	0.83	0.87	0.84	0.86	0.75		0.85	VKQ
BLE	0.94	0.95	0.92	0.98	0.83	0.94	0.71	0.85		BLE
	MVF	MQT	MQY	MHD	MUE	BFK	BTZ	VKQ	BLE

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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
MVF	0.58	(0.05)	0.00	(0.18)	0.00	0.00	1.11	(1.24)	3.26
MQT	0.55	(0.06)	0.00	(0.17)	0.00	0.00	1.01	(1.11)	3.29
MQY	0.60	(0.14)	0.00	(0.47)	0.00	0.00	0.99	(1.31)	3.70
MHD	0.64	(0.07)	0.00	(0.32)	0.00	0.00	1.15	(1.17)	2.75
MUE	0.61	(0.04)	0.00	(0.11)	0.00	0.00	0.89	(1.35)	3.18
BFK	0.49	(0.05)	0.00	(1.00)	0.00	0.00	0.99	(0.97)	1.98
BTZ	0.47	(0.01)	(0.04)	(0.01)	0.64	(0.48)	0.87	(0.95)	3.70
VKQ	0.53	(0.02)	0.00	0.25	0.00	0.00	1.09	(1.23)	3.27
BLE	0.54	(0.06)	0.00	(0.25)	0.00	0.00	0.87	(1.05)	2.58

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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