Blackrock Muniholdings Correlations

MHD Fund

USD 11.94 0.04 0.33%

The current 90-days correlation between Blackrock Muniholdings and Munivest Fund is 0.74 (i.e., Poor diversification). The correlation of Blackrock Muniholdings 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 Muniholdings Correlation With Market

Modest diversification

The correlation between Blackrock Muniholdings Closed 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 Muniholdings Closed and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Blackrock Muniholdings Closed. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Blackrock Fund

0.72	ZTR	Virtus Global Dividend	Pair Corr
0.73	PCQ	Pimco California Mun	Pair Corr
0.87	RIV	Rivernorth Opportunities	Pair Corr

Moving against Blackrock Fund

0.69	RPIEX	T Rowe Price	Pair Corr
0.66	CBHCX	Victory Cemp Market	Pair Corr
0.66	MURSX	Msif Real Estate	Pair Corr
0.47	NTG	Tortoise Mlp Closed	Pair Corr
0.45	SWSFX	Ultra Short Fixed	Pair Corr
0.41	DBFRX	Doubleline Floating Rate	Pair Corr
0.38	AQMIX	Aqr Managed Futures	Pair Corr
0.36	DLINX	Doubleline Flexible	Pair Corr
0.36	ESDIX	Ashmore Emerging Markets	Pair Corr
0.31	LRRVX	Floating Rate	Pair Corr
0.62	AHLPX	American Beacon Ahl	Pair Corr
0.56	APDPX	Artisan Global Uncon	Pair Corr
0.52	EMPIX	Ambassador Fund	Pair Corr
0.47	BXSL	Blackstone Secured	Pair Corr
0.45	BIVSX	Balter Invenomic	Pair Corr
0.44	FSAWX	Fidelity Sai Convertible	Pair Corr
0.4	ATOIX	Alpine Ultra Short	Pair Corr
0.4	USIAX	Ubs Ultra Short	Pair Corr
0.39	MAFRX	Pioneer Multi Asset	Pair Corr
0.38	LGRAX	Lord Abbett Investment	Pair Corr

Related Correlations Analysis

	JHS	CXE	CXH	CBH	DTF	MVT	MQT	MVF	MUI	MUE
JHS		0.75	0.7	-0.49	0.27	0.67	0.78	0.63	0.76	0.66	JHS
CXE	0.75		0.74	-0.69	0.44	0.94	0.94	0.87	0.7	0.75	CXE
CXH	0.7	0.74		-0.24	0.68	0.76	0.82	0.77	0.82	0.9	CXH
CBH	-0.49	-0.69	-0.24		0.02	-0.61	-0.59	-0.44	-0.24	-0.24	CBH
DTF	0.27	0.44	0.68	0.02		0.49	0.49	0.51	0.42	0.63	DTF
MVT	0.67	0.94	0.76	-0.61	0.49		0.95	0.94	0.71	0.82	MVT
MQT	0.78	0.94	0.82	-0.59	0.49	0.95		0.89	0.83	0.88	MQT
MVF	0.63	0.87	0.77	-0.44	0.51	0.94	0.89		0.7	0.81	MVF
MUI	0.76	0.7	0.82	-0.24	0.42	0.71	0.83	0.7		0.88	MUI
MUE	0.66	0.75	0.9	-0.24	0.63	0.82	0.88	0.81	0.88		MUE
	JHS	CXE	CXH	CBH	DTF	MVT	MQT	MVF	MUI	MUE

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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

MQT	+ 0.95	MVT
MVT	+ 0.94	CXE
MQT	+ 0.94	CXE
MVF	+ 0.94	MVT
MUE	+ 0.9	CXH
MVF	+ 0.89	MQT

High negative correlations

CBH	- 0.69	CXE
MVT	- 0.61	CBH
MQT	- 0.59	CBH
CBH	- 0.49	JHS
MVF	- 0.44	CBH
MUE	- 0.24	CBH

Risk-Adjusted Indicators

There is a big difference between Blackrock Fund performing well and Blackrock Muniholdings Fund 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 Muniholdings' 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
JHS	0.39	(0.03)	0.00	(0.25)	0.00	0.00	0.72	(0.97)	2.20
CXE	0.61	(0.07)	0.00	(0.27)	0.00	0.00	1.60	(1.37)	3.43
CXH	0.45	(0.03)	0.00	(1.75)	0.00	0.00	0.76	(1.01)	3.18
CBH	0.13	0.04	0.08	2.47	0.00	(0.18)	0.22	(0.22)	0.78
DTF	0.34	0.00	(0.04)	(0.05)	0.44	(0.44)	0.83	(0.71)	2.78
MVT	0.56	(0.07)	0.00	(0.21)	0.00	0.00	1.18	(1.19)	2.90
MQT	0.55	(0.06)	0.00	(0.20)	0.00	0.00	1.01	(1.11)	3.29
MVF	0.59	(0.05)	0.00	(0.16)	0.00	0.00	1.11	(1.24)	3.26
MUI	0.42	(0.04)	0.00	(0.15)	0.00	0.00	0.72	(1.19)	3.94
MUE	0.60	(0.05)	0.00	(0.14)	0.00	0.00	0.89	(1.35)	3.18

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