Blackrock Muni Correlations

MUI Fund

USD 12.50 0.06 0.48%

The current 90-days correlation between Blackrock Muni Inter and Blackrock Muniyield is 0.32 (i.e., Weak diversification). The correlation of Blackrock Muni 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 Muni Correlation With Market

Significant diversification

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

Moving together with Blackrock Fund

0.61

Home Depot

Pair Corr

Related Correlations Analysis

	MYD	MQY	MYI	MUE	DTF	CMU	CXE	JHS	MQT	MHD
MYD		0.84	0.88	0.83	0.39	0.84	0.83	0.57	0.85	0.89	MYD
MQY	0.84		0.95	0.72	0.06	0.88	0.94	0.7	0.89	0.96	MQY
MYI	0.88	0.95		0.79	0.06	0.85	0.93	0.65	0.94	0.97	MYI
MUE	0.83	0.72	0.79		0.42	0.82	0.72	0.39	0.81	0.78	MUE
DTF	0.39	0.06	0.06	0.42		0.23	0.07	-0.06	0.12	0.11	DTF
CMU	0.84	0.88	0.85	0.82	0.23		0.86	0.63	0.79	0.86	CMU
CXE	0.83	0.94	0.93	0.72	0.07	0.86		0.68	0.9	0.92	CXE
JHS	0.57	0.7	0.65	0.39	-0.06	0.63	0.68		0.63	0.67	JHS
MQT	0.85	0.89	0.94	0.81	0.12	0.79	0.9	0.63		0.92	MQT
MHD	0.89	0.96	0.97	0.78	0.11	0.86	0.92	0.67	0.92		MHD
	MYD	MQY	MYI	MUE	DTF	CMU	CXE	JHS	MQT	MHD

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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

MHD	+ 0.97	MYI
MHD	+ 0.96	MQY
MYI	+ 0.95	MQY
CXE	+ 0.94	MQY
MQT	+ 0.94	MYI
CXE	+ 0.93	MYI

High negative correlations

JHS

- 0.06

DTF

Risk-Adjusted Indicators

There is a big difference between Blackrock Fund performing well and Blackrock Muni 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 Muni'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
MYD	0.49	0.01	(0.17)	0.32	0.55	(0.55)	1.08	(1.06)	2.65
MQY	0.40	(0.01)	0.00	0.95	0.00	0.00	0.81	(1.07)	2.74
MYI	0.37	(0.02)	0.00	2.26	0.00	0.00	0.87	(0.94)	2.59
MUE	0.38	0.05	(0.13)	(2.20)	0.45	(0.41)	0.85	(0.76)	2.47
DTF	0.22	0.01	(0.37)	(0.10)	0.23	(0.27)	0.54	(0.36)	1.96
CMU	0.38	0.03	(0.17)	(0.09)	0.45	(0.51)	0.85	(0.84)	2.54
CXE	0.50	(0.01)	(0.19)	(0.13)	0.58	(0.64)	1.33	(1.04)	3.34
JHS	0.30	(0.01)	(0.23)	0.07	0.38	(0.34)	0.70	(0.61)	3.04
MQT	0.41	(0.03)	0.00	(0.12)	0.00	0.00	0.87	(0.92)	2.73
MHD	0.47	0.00	(0.15)	(0.11)	0.72	(0.45)	0.88	(1.14)	3.11

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