Blackrock Defensive Correlations

BADEX Fund

USD 10.23 0.08 0.78%

The current 90-days correlation between Blackrock Defensive and Blackrock California Municipal is 0.07 (i.e., Significant diversification). The correlation of Blackrock Defensive 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 Defensive Correlation With Market

Average diversification

The correlation between Blackrock Defensive Advantage and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Defensive Advantage and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Blackrock Defensive Advantage. 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 income.

Moving together with Blackrock Mutual Fund

0.74	MKEFX	Blackrock Eurofund Class	Pair Corr
0.82	MKDCX	Blackrock Emerging	Pair Corr
0.67	MKILX	Blackrock International	Pair Corr
0.67	BROKX	Blackrock Advantage	Pair Corr

Moving against Blackrock Mutual Fund

0.32	BRBCX	Blackrock Tactical	Pair Corr
0.39	MKSPX	Blackrock Advantage Total	Pair Corr
0.33	BRGAX	Blckrck Fdsiii Rssll	Pair Corr
0.32	BRGNX	Blckrck Fdsiii Rssll	Pair Corr
0.32	BRGKX	Blckrck Fds Iii	Pair Corr
0.41	BRMIX	Blackrock Midcap Index	Pair Corr
0.41	BRMAX	Blackrock Midcap Index	Pair Corr
0.41	BRMKX	Blackrock Midcap Index	Pair Corr

Related Correlations Analysis

	MKCMX	MKCPX	MKEFX	MKECX	MKDCX	MKDVX	MKGCX	MKFOX	MKILX	BRAPX
MKCMX		0.55	0.03	-0.19	-0.19	-0.01	-0.09	0.25	0.5	0.48	MKCMX
MKCPX	0.55		-0.01	-0.22	-0.08	0.16	0.12	0.74	0.42	0.84	MKCPX
MKEFX	0.03	-0.01		0.85	0.82	-0.25	-0.11	-0.54	0.81	-0.33	MKEFX
MKECX	-0.19	-0.22	0.85		0.8	-0.03	0.06	-0.69	0.55	-0.47	MKECX
MKDCX	-0.19	-0.08	0.82	0.8		-0.15	-0.01	-0.55	0.55	-0.39	MKDCX
MKDVX	-0.01	0.16	-0.25	-0.03	-0.15		0.94	0.11	-0.3	0.16	MKDVX
MKGCX	-0.09	0.12	-0.11	0.06	-0.01	0.94		0.06	-0.25	0.06	MKGCX
MKFOX	0.25	0.74	-0.54	-0.69	-0.55	0.11	0.06		-0.14	0.84	MKFOX
MKILX	0.5	0.42	0.81	0.55	0.55	-0.3	-0.25	-0.14		0.13	MKILX
BRAPX	0.48	0.84	-0.33	-0.47	-0.39	0.16	0.06	0.84	0.13		BRAPX
	MKCMX	MKCPX	MKEFX	MKECX	MKDCX	MKDVX	MKGCX	MKFOX	MKILX	BRAPX

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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

MKGCX	+ 0.94	MKDVX
MKECX	+ 0.85	MKEFX
BRAPX	+ 0.84	MKCPX
BRAPX	+ 0.84	MKFOX
MKDCX	+ 0.82	MKEFX
MKILX	+ 0.81	MKEFX

High negative correlations

MKFOX	- 0.69	MKECX
MKFOX	- 0.55	MKDCX
MKFOX	- 0.54	MKEFX
BRAPX	- 0.47	MKECX
BRAPX	- 0.39	MKDCX
BRAPX	- 0.33	MKEFX

Risk-Adjusted Indicators

There is a big difference between Blackrock Mutual Fund performing well and Blackrock Defensive 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 Defensive'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
MKCMX	0.12	(0.01)	0.00	(0.18)	0.00	0.00	0.34	(0.33)	1.00
MKCPX	0.29	0.03	(0.07)	0.57	0.23	(0.41)	0.80	(0.54)	2.21
MKEFX	0.83	(0.02)	0.00	0.34	0.00	0.00	1.63	(1.67)	6.83
MKECX	0.62	(0.09)	0.00	(0.52)	0.00	0.00	1.15	(1.34)	4.15
MKDCX	0.76	0.00	(0.07)	0.07	0.93	(0.87)	1.69	(1.74)	5.08
MKDVX	0.51	(0.08)	0.00	(0.56)	0.00	0.00	0.93	(0.78)	7.49
MKGCX	0.64	(0.10)	0.00	(0.59)	0.00	0.00	1.08	(0.90)	13.22
MKFOX	0.73	0.15	0.08	(9.18)	0.90	(0.81)	1.81	(1.86)	5.49
MKILX	0.68	0.01	(0.05)	(0.08)	0.90	(0.66)	1.31	(1.50)	5.13
BRAPX	0.39	0.02	(0.02)	0.10	0.36	(0.48)	1.01	(0.73)	2.96

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