Blackrock Muniholdings Correlations

MHN Fund

USD 10.68 0.07 0.66%

The current 90-days correlation between Blackrock Muniholdings and Eaton Vance National is 0.31 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Blackrock Muniholdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Blackrock Muniholdings Ny moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Blackrock Muniholdings Correlation With Market

Significant diversification

The correlation between Blackrock Muniholdings Ny and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Muniholdings Ny 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 Ny. 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

0.89	EIM	Eaton Vance Mbf	Pair Corr
0.83	IIF	Morgan Stanley India	Pair Corr
0.74	NNY	Nuveen New York	Pair Corr
0.72	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.72	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr

Moving against Blackrock Fund

0.43	FEN	First Trust Energy	Pair Corr
0.54	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.36	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr

Related Correlations Analysis

	EOT	IHTA	NXC	CXH	FMN
EOT		0.06	0.71	0.59	0.62	EOT
IHTA	0.06		-0.38	0.08	-0.61	IHTA
NXC	0.71	-0.38		0.53	0.89	NXC
CXH	0.59	0.08	0.53		0.53	CXH
FMN	0.62	-0.61	0.89	0.53		FMN
	EOT	IHTA	NXC	CXH	FMN

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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

FMN	+ 0.89	NXC
NXC	+ 0.71	EOT
FMN	+ 0.62	EOT
CXH	+ 0.59	EOT
CXH	+ 0.53	NXC
FMN	+ 0.53	CXH

High negative correlations

FMN	- 0.61	IHTA
NXC	- 0.38	IHTA

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
EOT	0.35	0.00	(0.25)	0.06	0.42	(0.41)	0.75	(0.87)	2.08
IHTA	0.24	0.05	(0.13)	1.63	0.26	(0.30)	0.68	(0.28)	2.03
NXC	0.45	(0.03)	0.00	(1.97)	0.00	0.00	0.94	(0.94)	2.82
CXH	0.33	0.03	(0.20)	(0.11)	0.42	(0.35)	0.62	(0.74)	2.10
FMN	0.50	(0.06)	0.00	0.68	0.00	0.00	1.07	(1.49)	5.10

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