Blackrock Muniholdings Correlations

MUJ Fund

USD 11.38 0.01 0.09%

The current 90-days correlation between Blackrock Muniholdings and Blackrock Muniyield is 0.76 (i.e., Poor 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 New moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Blackrock Muniholdings Correlation With Market

Modest diversification

The correlation between Blackrock Muniholdings New and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Muniholdings New 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 New. 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

0.81	NEA	Nuveen Amt Free	Pair Corr
0.68	DNP	Dnp Select Income	Pair Corr
0.86	NAD	Nuveen Dividend Advantage	Pair Corr
0.88	NVG	Nuveen Amt Free	Pair Corr
0.9	UTF	Cohen And Steers	Pair Corr
0.83	NZF	Nuveen Municipal Credit	Pair Corr
0.68	NAC	Nuveen California	Pair Corr
0.72	NCLEX	Nicholas Edition	Pair Corr
0.79	JRLKX	Multi Index 2015	Pair Corr
0.7	AAAJX	American Century One	Pair Corr
0.61	OBSOX	Oberweis Small Cap	Pair Corr
0.67	RBENX	American Funds 2060	Pair Corr
0.86	HCKIX	Hartford Checks	Pair Corr

Moving against Blackrock Fund

0.54	BXSL	Blackstone Secured	Pair Corr
0.5	CPRTX	Clarion Partners Real	Pair Corr
0.44	GGNPX	Goldman Sachs High	Pair Corr
0.43	FMUSX	Federated Municipal	Pair Corr
0.4	DFCMX	Dfa Calfrna Shrt	Pair Corr
0.38	MCSAX	Mfs Modity Strategy	Pair Corr
0.31	WSHNX	Short Duration Income	Pair Corr

Related Correlations Analysis

	MYD	MUI	MQY	MYI	MUE	MVF	KTF	MHD	NXC	NMCO
MYD		0.75	0.94	0.9	0.86	0.86	0.92	0.86	0.73	0.89	MYD
MUI	0.75		0.84	0.79	0.86	0.74	0.81	0.87	0.42	0.6	MUI
MQY	0.94	0.84		0.84	0.83	0.77	0.89	0.86	0.74	0.78	MQY
MYI	0.9	0.79	0.84		0.89	0.9	0.89	0.92	0.53	0.86	MYI
MUE	0.86	0.86	0.83	0.89		0.88	0.91	0.94	0.37	0.8	MUE
MVF	0.86	0.74	0.77	0.9	0.88		0.84	0.92	0.48	0.91	MVF
KTF	0.92	0.81	0.89	0.89	0.91	0.84		0.85	0.59	0.79	KTF
MHD	0.86	0.87	0.86	0.92	0.94	0.92	0.85		0.44	0.85	MHD
NXC	0.73	0.42	0.74	0.53	0.37	0.48	0.59	0.44		0.63	NXC
NMCO	0.89	0.6	0.78	0.86	0.8	0.91	0.79	0.85	0.63		NMCO
	MYD	MUI	MQY	MYI	MUE	MVF	KTF	MHD	NXC	NMCO

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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
MYD	0.54	(0.07)	0.00	(0.21)	0.00	0.00	1.01	(1.09)	3.23
MUI	0.42	(0.03)	0.00	(0.08)	0.00	0.00	0.72	(1.19)	3.94
MQY	0.57	(0.09)	0.00	(0.24)	0.00	0.00	0.99	(1.13)	3.70
MYI	0.55	(0.04)	0.00	(0.05)	0.00	0.00	1.24	(1.09)	3.10
MUE	0.58	0.01	(0.06)	0.11	0.81	(0.55)	1.21	(1.20)	3.18
MVF	0.56	(0.01)	(0.12)	0.03	0.64	(0.65)	1.11	(1.10)	3.94
KTF	0.42	(0.03)	0.00	(0.08)	0.00	0.00	0.97	(0.94)	2.84
MHD	0.60	(0.02)	(0.11)	(0.01)	0.78	(0.56)	1.15	(1.11)	2.75
NXC	0.43	(0.06)	0.00	(0.40)	0.00	0.00	0.82	(0.97)	3.97
NMCO	0.52	(0.01)	(0.11)	0.03	0.68	(0.54)	1.20	(1.20)	3.01

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