BlackRock California Correlations

BFZ Stock

USD 11.67 0.09 0.78%

The current 90-days correlation between BlackRock California and Blackrock Muni Intermediate is 0.4 (i.e., Very weak 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

Significant diversification

The correlation between BlackRock California Municipal and DJI is 0.01 (i.e., Significant 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 Trending Equities to better understand how to build diversified portfolios, which includes a position in BlackRock California Municipal. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with BlackRock Stock

0.65

SWIN

Solowin Holdings Ordinary

Pair Corr

Moving against BlackRock Stock

0.77	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.76	AX	Axos Financial	Pair Corr
0.7	COF	Capital One Financial Fiscal Year End 23rd of January 2025	Pair Corr
0.7	DFS	Discover Financial Fiscal Year End 15th of January 2025	Pair Corr
0.7	SOFI	SoFi Technologies Aggressive Push	Pair Corr
0.69	SYF	Synchrony Financial Fiscal Year End 28th of January 2025	Pair Corr
0.68	C	Citigroup Aggressive Push	Pair Corr
0.68	L	Loews Corp	Pair Corr
0.66	PPYA	Papaya Growth Opportunity	Pair Corr
0.65	V	Visa Class A	Pair Corr
0.65	MS	Morgan Stanley Fiscal Year End 21st of January 2025	Pair Corr
0.64	UPST	Upstart Holdings	Pair Corr
0.58	BX	Blackstone Group Fiscal Year End 23rd of January 2025	Pair Corr
0.56	APO	Apollo Global Management	Pair Corr
0.56	KKR	KKR Co LP	Pair Corr
0.55	ALLY	Ally Financial Normal Trading	Pair Corr
0.55	DHIL	Diamond Hill Investment	Pair Corr
0.54	APAM	Artisan Partners Asset Fiscal Year End 4th of February 2025	Pair Corr
0.51	BAM	Brookfield Asset Man	Pair Corr
0.49	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.47	BK	Bank of New York Fiscal Year End 10th of January 2025	Pair Corr
0.43	CG	Carlyle Group	Pair Corr
0.43	BLK	BlackRock Fiscal Year End 10th of January 2025	Pair Corr
0.43	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.43	BN	Brookfield Corp	Pair Corr
0.41	MA	Mastercard	Pair Corr
0.31	AB	AllianceBernstein	Pair Corr
0.76	LC	LendingClub Corp	Pair Corr
0.75	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.72	RF	Regions Financial Fiscal Year End 17th of January 2025	Pair Corr
0.71	GS	Goldman Sachs Group Fiscal Year End 21st of January 2025	Pair Corr
0.71	WT	WisdomTree	Pair Corr
0.6	SF	Stifel Financial Fiscal Year End 22nd of January 2025	Pair Corr
0.55	PX	P10 Inc	Pair Corr
0.5	FG	FG Annuities Life	Pair Corr
0.48	QD	Qudian Inc	Pair Corr
0.47	MC	Moelis	Pair Corr

Related Correlations Analysis

	MQY	MUI	NKX	MVF	VBF	VTN	DMF	PNF	VPV
MQY		0.27	0.77	0.88	0.81	0.61	0.55	0.91	0.67	MQY
MUI	0.27		-0.09	0.24	-0.14	0.37	0.14	0.28	0.58	MUI
NKX	0.77	-0.09		0.7	0.76	0.37	0.47	0.67	0.35	NKX
MVF	0.88	0.24	0.7		0.68	0.79	0.77	0.78	0.75	MVF
VBF	0.81	-0.14	0.76	0.68		0.26	0.41	0.68	0.21	VBF
VTN	0.61	0.37	0.37	0.79	0.26		0.78	0.56	0.9	VTN
DMF	0.55	0.14	0.47	0.77	0.41	0.78		0.4	0.62	DMF
PNF	0.91	0.28	0.67	0.78	0.68	0.56	0.4		0.68	PNF
VPV	0.67	0.58	0.35	0.75	0.21	0.9	0.62	0.68		VPV
	MQY	MUI	NKX	MVF	VBF	VTN	DMF	PNF	VPV

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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

PNF	+ 0.91	MQY
VPV	+ 0.9	VTN
MVF	+ 0.88	MQY
VBF	+ 0.81	MQY
VTN	+ 0.79	MVF
PNF	+ 0.78	MVF

High negative correlations

VBF	- 0.14	MUI
NKX	- 0.09	MUI

Risk-Adjusted Indicators

There is a big difference between BlackRock Stock performing well and BlackRock California Company 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
MQY	0.44	0.03	(0.15)	(3.78)	0.58	(0.45)	0.98	(1.07)	2.74
MUI	0.30	0.05	(0.12)	(2.18)	0.46	(0.34)	0.73	(0.64)	3.31
NKX	0.55	(0.04)	0.00	2.34	0.00	0.00	1.01	(1.28)	4.62
MVF	0.51	0.02	(0.15)	(2.59)	0.64	(0.57)	0.95	(1.09)	2.81
VBF	0.40	(0.08)	0.00	(0.66)	0.00	0.00	0.81	(1.01)	2.92
VTN	0.35	0.04	(0.15)	3.70	0.43	(0.38)	0.71	(0.70)	2.23
DMF	0.46	0.04	(0.12)	(1.39)	0.63	(0.48)	0.85	(1.10)	3.35
PNF	0.40	0.02	(0.20)	(3.95)	0.41	(0.54)	1.13	(0.75)	2.74
VPV	0.32	0.05	(0.17)	6.04	0.29	(0.38)	0.64	(0.54)	1.79

BlackRock California Corporate Management

Henry Gabbay	Independent Trustee	Profile
CFA CFA	Portfolio Mang	Profile
Robert Hubbard	Independent Trustee	Profile
Charles Park	Chief Compliance Officer	Profile
Frank Fabozzi	Independent Trustee	Profile

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