Blackrock Muniholdings Correlations

MUC Fund

USD 11.35 0.09 0.80%

The current 90-days correlation between Blackrock Muniholdings and Invesco California Value is 0.62 (i.e., Poor diversification). The correlation of Blackrock Muniholdings 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 Muniholdings Correlation With Market

Good diversification

The correlation between Blackrock Muniholdings Ca and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Muniholdings Ca 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 Ca. 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

0.78	RBCUX	Tax Exempt Bond	Pair Corr
0.75	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.69	KO	Coca Cola Aggressive Push	Pair Corr

Moving against Blackrock Fund

0.67	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.57	BAC	Bank of America Aggressive Push	Pair Corr
0.52	BTO	John Hancock Financial	Pair Corr
0.52	EMO	Clearbridge Energy Mlp	Pair Corr
0.46	BDJ	Blackrock Enhanced Equity	Pair Corr
0.45	TTP	Tortoise Pipeline And	Pair Corr
0.42	NDP	Tortoise Energy Inde	Pair Corr
0.41	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.38	DIS	Walt Disney Sell-off Trend	Pair Corr
0.38	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.35	HIE	Millerhoward High Income	Pair Corr
0.35	HPQ	HP Inc	Pair Corr
0.31	CSQ	Calamos Strategic Total	Pair Corr

Related Correlations Analysis

	PAI	VCV	NQP	NCA	MHD	MVT	MQT	MVF	MUI	MUE
PAI		0.2	0.32	0.38	0.51	0.47	0.48	0.42	0.2	0.37	PAI
VCV	0.2		0.94	0.59	0.75	0.87	0.79	0.76	-0.12	0.48	VCV
NQP	0.32	0.94		0.7	0.82	0.88	0.84	0.8	-0.08	0.46	NQP
NCA	0.38	0.59	0.7		0.68	0.65	0.61	0.59	0.08	0.1	NCA
MHD	0.51	0.75	0.82	0.68		0.92	0.92	0.93	0.26	0.7	MHD
MVT	0.47	0.87	0.88	0.65	0.92		0.93	0.89	0.11	0.67	MVT
MQT	0.48	0.79	0.84	0.61	0.92	0.93		0.91	0.1	0.73	MQT
MVF	0.42	0.76	0.8	0.59	0.93	0.89	0.91		0.24	0.75	MVF
MUI	0.2	-0.12	-0.08	0.08	0.26	0.11	0.1	0.24		0.36	MUI
MUE	0.37	0.48	0.46	0.1	0.7	0.67	0.73	0.75	0.36		MUE
	PAI	VCV	NQP	NCA	MHD	MVT	MQT	MVF	MUI	MUE

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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

NQP	+ 0.94	VCV
MVF	+ 0.93	MHD
MQT	+ 0.93	MVT
MVT	+ 0.92	MHD
MQT	+ 0.92	MHD
MVF	+ 0.91	MQT

High negative correlations

MUI	- 0.12	VCV
MUI	- 0.08	NQP

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
PAI	0.47	0.00	(0.17)	0.10	0.66	(0.49)	1.02	(0.88)	3.42
VCV	0.57	0.00	(0.19)	0.09	0.69	(0.61)	1.09	(0.97)	3.87
NQP	0.40	(0.02)	0.00	1.76	0.00	0.00	0.76	(1.02)	2.12
NCA	0.35	(0.03)	0.00	0.93	0.00	0.00	0.58	(0.89)	3.16
MHD	0.51	0.05	(0.10)	(2.67)	0.73	(0.48)	1.12	(1.14)	3.11
MVT	0.49	0.03	(0.15)	(0.80)	0.58	(0.54)	1.17	(1.09)	2.79
MQT	0.45	0.02	(0.13)	0.34	0.58	(0.45)	0.95	(0.92)	2.73
MVF	0.51	0.02	(0.15)	(2.59)	0.64	(0.57)	0.95	(1.09)	2.81
MUI	0.30	0.05	(0.12)	(2.18)	0.46	(0.34)	0.73	(0.64)	3.31
MUE	0.42	0.07	(0.10)	(4.86)	0.49	(0.45)	0.86	(0.77)	2.53

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