Blackrock Muniyield Correlations

MQY Fund

USD 12.41 0.12 0.98%

The current 90-days correlation between Blackrock Muniyield and Blackrock Muni Intermediate is 0.34 (i.e., Weak diversification). The correlation of Blackrock Muniyield 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 Muniyield Correlation With Market

Good diversification

The correlation between Blackrock Muniyield Quality and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Muniyield Quality 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 Muniyield Quality. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with Blackrock Fund

0.67	KO	Coca Cola Aggressive Push	Pair Corr
0.83	VZ	Verizon Communications Aggressive Push	Pair Corr
0.67	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.62	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.77	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr

Moving against Blackrock Fund

0.69	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.56	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.51	KMKAX	Kinetics Market Oppo Steady Growth	Pair Corr
0.51	KMKCX	Kinetics Market Oppo Steady Growth	Pair Corr
0.5	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.5	KNPYX	Kinetics Paradigm Steady Growth	Pair Corr
0.5	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.5	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.48	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.48	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.43	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.4	DIS	Walt Disney Aggressive Push	Pair Corr

Related Correlations Analysis

	DTF	KTF	MUI	MUE	IHTA	MQT	MFM	CXE	MVT	JPT
DTF		0.67	0.17	0.42	0.4	0.12	0.25	0.07	0.11	0.04	DTF
KTF	0.67		0.51	0.59	0.45	0.32	0.49	0.44	0.27	0.15	KTF
MUI	0.17	0.51		0.25	0.21	0.1	0.21	0.34	0.12	0.31	MUI
MUE	0.42	0.59	0.25		0.01	0.81	0.85	0.72	0.73	-0.56	MUE
IHTA	0.4	0.45	0.21	0.01		-0.32	-0.24	-0.25	-0.52	0.42	IHTA
MQT	0.12	0.32	0.1	0.81	-0.32		0.9	0.9	0.92	-0.76	MQT
MFM	0.25	0.49	0.21	0.85	-0.24	0.9		0.86	0.88	-0.62	MFM
CXE	0.07	0.44	0.34	0.72	-0.25	0.9	0.86		0.84	-0.52	CXE
MVT	0.11	0.27	0.12	0.73	-0.52	0.92	0.88	0.84		-0.71	MVT
JPT	0.04	0.15	0.31	-0.56	0.42	-0.76	-0.62	-0.52	-0.71		JPT
	DTF	KTF	MUI	MUE	IHTA	MQT	MFM	CXE	MVT	JPT

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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

MVT	+ 0.92	MQT
MFM	+ 0.9	MQT
CXE	+ 0.9	MQT
MVT	+ 0.88	MFM
CXE	+ 0.86	MFM
MFM	+ 0.85	MUE

High negative correlations

JPT	- 0.76	MQT
JPT	- 0.71	MVT
JPT	- 0.62	MFM
JPT	- 0.56	MUE
JPT	- 0.52	CXE
MVT	- 0.52	IHTA

Risk-Adjusted Indicators

There is a big difference between Blackrock Fund performing well and Blackrock Muniyield 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 Muniyield'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
DTF	0.22	0.01	(0.37)	(0.10)	0.23	(0.27)	0.54	(0.36)	1.96
KTF	0.43	0.04	(0.13)	(0.91)	0.49	(0.52)	1.12	(0.61)	3.40
MUI	0.29	0.02	(0.15)	1.74	0.49	(0.32)	0.73	(0.65)	3.31
MUE	0.38	0.05	(0.13)	(2.20)	0.45	(0.41)	0.85	(0.76)	2.47
IHTA	0.24	0.05	(0.13)	1.63	0.26	(0.30)	0.68	(0.28)	2.03
MQT	0.41	(0.03)	0.00	(0.12)	0.00	0.00	0.87	(0.92)	2.73
MFM	0.43	0.02	(0.21)	0.04	0.54	(0.53)	0.89	(1.06)	2.71
CXE	0.50	(0.01)	(0.19)	(0.13)	0.58	(0.64)	1.33	(1.04)	3.34
MVT	0.45	(0.02)	0.00	0.69	0.00	0.00	1.02	(1.09)	2.79
JPT	0.62	0.01	(0.10)	(1.11)	1.04	(0.57)	1.33	(1.82)	4.64

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