BlackRock ESG Correlations

ECAT Stock

USD 16.64 0.11 0.67%

The current 90-days correlation between BlackRock ESG Capital and Associated Capital Group is 0.24 (i.e., Modest diversification). The correlation of BlackRock ESG 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 ESG Correlation With Market

Average diversification

The correlation between BlackRock ESG Capital and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BlackRock ESG Capital and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in BlackRock ESG Capital. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with BlackRock Stock

0.69	BN	Brookfield Corp Earnings Call This Week	Pair Corr
0.71	BX	Blackstone Group	Pair Corr
0.7	RC	Ready Capital Corp	Pair Corr
0.61	SF	Stifel Financial	Pair Corr
0.72	ECPG	Encore Capital Group	Pair Corr
0.7	APO	Apollo Global Management Earnings Call This Week	Pair Corr
0.65	BAM	Brookfield Asset Man Earnings Call This Week	Pair Corr
0.61	BEN	Franklin Resources	Pair Corr
0.64	BLK	BlackRock	Pair Corr
0.65	EVR	Evercore Partners	Pair Corr
0.63	HLI	Houlihan Lokey	Pair Corr
0.64	KKR	KKR Co LP Earnings Call This Week	Pair Corr
0.65	PJT	PJT Partners Earnings Call This Week	Pair Corr

Related Correlations Analysis

	V	DHIL	DIST	AB	AC	BN	BX	CG	DB	DX
V		-0.11	0.68	0.45	-0.01	0.76	0.44	0.7	0.62	0.77	V
DHIL	-0.11		0.08	-0.35	0.56	0.31	0.64	-0.03	-0.52	-0.38	DHIL
DIST	0.68	0.08		-0.01	-0.05	0.6	0.41	0.32	0.2	0.45	DIST
AB	0.45	-0.35	-0.01		-0.03	0.28	0.04	0.64	0.72	0.55	AB
AC	-0.01	0.56	-0.05	-0.03		0.25	0.57	0.18	-0.11	-0.08	AC
BN	0.76	0.31	0.6	0.28	0.25		0.77	0.74	0.42	0.63	BN
BX	0.44	0.64	0.41	0.04	0.57	0.77		0.6	0.12	0.28	BX
CG	0.7	-0.03	0.32	0.64	0.18	0.74	0.6		0.75	0.72	CG
DB	0.62	-0.52	0.2	0.72	-0.11	0.42	0.12	0.75		0.77	DB
DX	0.77	-0.38	0.45	0.55	-0.08	0.63	0.28	0.72	0.77		DX
	V	DHIL	DIST	AB	AC	BN	BX	CG	DB	DX

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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

DX	+ 0.77	V
BX	+ 0.77	BN
DX	+ 0.77	DB
BN	+ 0.76	V
DB	+ 0.75	CG
CG	+ 0.74	BN

High negative correlations

DB	- 0.52	DHIL
DX	- 0.38	DHIL
AB	- 0.35	DHIL
DB	- 0.11	AC
DHIL	- 0.11	V
DX	- 0.08	AC

Risk-Adjusted Indicators

There is a big difference between BlackRock Stock performing well and BlackRock ESG 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 ESG'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
V	0.75	0.27	0.22	1.57	0.52	(0.89)	2.13	(1.15)	7.49
DHIL	1.10	(0.11)	0.00	(0.07)	0.00	0.00	2.30	(2.66)	10.59
DIST	0.34	0.03	0.00	0.56	0.00	0.00	1.00	(0.62)	9.65
AB	1.49	0.06	0.00	0.21	1.45	(1.80)	3.89	(2.24)	8.80
AC	1.10	0.00	(0.06)	0.06	1.44	(1.11)	2.75	(2.48)	6.91
BN	1.28	0.14	0.06	0.28	1.72	(1.25)	2.73	(1.89)	9.51
BX	1.44	0.03	0.00	0.13	2.09	(1.38)	3.21	(2.98)	11.08
CG	1.47	0.15	0.06	0.34	1.71	(1.59)	3.05	(3.17)	15.08
DB	1.25	0.19	0.09	0.72	1.31	(1.43)	2.99	(2.44)	6.86
DX	0.65	0.09	0.01	1.51	0.75	(0.70)	1.13	(1.42)	3.57

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