Blackrock California Correlations

MKCMX Fund

USD 12.03 0.01 0.08%

The current 90-days correlation between Blackrock California and Copeland Risk Managed is -0.24 (i.e., Very good diversification). The correlation of Blackrock California 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 California Correlation With Market

Average diversification

The correlation between Blackrock California Municipal and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock California Municipal 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 California Municipal. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Blackrock Mutual Fund

0.78	BRAMX	Bats Series M	Pair Corr
0.89	MKMTX	Blackrock Strategic	Pair Corr
0.73	BRACX	Bats Series C	Pair Corr
0.94	MKNKX	Blackrock New York	Pair Corr
0.82	MKNJX	Blackrock New Jersey	Pair Corr
0.71	BRCPX	Blackrock Conservative	Pair Corr
0.9	MKPYX	Blackrock Pennsylvania	Pair Corr
0.69	MKWIX	Blackrock Strategic	Pair Corr
0.97	MKYHX	Blackrock High Yield	Pair Corr

Moving against Blackrock Mutual Fund

0.49	BRBCX	Blackrock Tactical	Pair Corr
0.42	MKFOX	Blackrock Large Cap	Pair Corr
0.38	BRGAX	Blckrck Fdsiii Rssll	Pair Corr
0.35	BRGKX	Blckrck Fds Iii	Pair Corr
0.32	MKSPX	Blackrock Advantage Total	Pair Corr
0.33	BSDAX	Blackrock Smid Cap	Pair Corr
0.32	BRMIX	Blackrock Midcap Index	Pair Corr
0.32	BRMAX	Blackrock Midcap Index	Pair Corr
0.32	BRMKX	Blackrock Midcap Index	Pair Corr

Related Correlations Analysis

	CDCRX	LBETX	AGDAX	FHAIX	PARCX	MWHIX	CABIX
CDCRX		0.97	0.74	0.71	0.81	0.49	0.43	CDCRX
LBETX	0.97		0.72	0.67	0.78	0.44	0.33	LBETX
AGDAX	0.74	0.72		0.9	0.7	0.92	0.52	AGDAX
FHAIX	0.71	0.67	0.9		0.73	0.83	0.7	FHAIX
PARCX	0.81	0.78	0.7	0.73		0.57	0.64	PARCX
MWHIX	0.49	0.44	0.92	0.83	0.57		0.61	MWHIX
CABIX	0.43	0.33	0.52	0.7	0.64	0.61		CABIX
	CDCRX	LBETX	AGDAX	FHAIX	PARCX	MWHIX	CABIX

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Risk-Adjusted Indicators

There is a big difference between Blackrock Mutual Fund performing well and Blackrock California Mutual 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 California'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
CDCRX	0.58	0.04	(0.05)	(3.53)	0.73	(0.58)	1.07	(1.12)	3.61
LBETX	0.23	0.03	(0.17)	(0.78)	0.24	(0.28)	0.54	(0.52)	1.43
AGDAX	0.11	0.03	(0.28)	(1.73)	0.00	(0.23)	0.29	(0.28)	0.87
FHAIX	0.10	0.01	0.00	0.50	0.00	0.00	0.57	0.00	1.15
PARCX	0.36	(0.03)	(0.13)	0.03	0.45	(0.38)	0.76	(0.76)	2.22
MWHIX	0.10	0.01	(0.48)	(1.09)	0.00	(0.19)	0.22	(0.21)	0.65
CABIX	0.33	0.00	(0.19)	(0.31)	0.39	(0.37)	0.69	(0.73)	2.27

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