Blackrock Exchange Correlations

STSEX Fund

USD 2,387 4.01 0.17%

The current 90-days correlation between Blackrock Exchange and Blackrock California Municipal is -0.33 (i.e., Very good diversification). The correlation of Blackrock Exchange 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 Exchange Correlation With Market

Very poor diversification

The correlation between Blackrock Exchange Portfolio and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Exchange Portfolio and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Blackrock Exchange Portfolio. 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

0.69	MKDVX	Blackrock Equity Dividend	Pair Corr
0.63	BRAPX	Blackrock Aggressive	Pair Corr
0.64	BRGPX	Blackrock Gwth Prepared	Pair Corr
0.63	MKSPX	Blackrock Advantage Total	Pair Corr
0.61	BRMAX	Blackrock Midcap Index	Pair Corr
0.61	BRMPX	Blackrock Moderate	Pair Corr

Related Correlations Analysis

	MKCMX	MKCPX	MKEFX	MKECX	MKDCX	MKDVX	MKGCX	MKFOX	MKILX	BRAPX
MKCMX		0.01	0.08	0.05	-0.01	-0.06	-0.2	-0.29	0.35	-0.1	MKCMX
MKCPX	0.01		0.16	0.19	0.49	0.72	0.91	0.79	0.12	0.95	MKCPX
MKEFX	0.08	0.16		0.9	0.79	-0.31	-0.14	-0.31	0.92	-0.02	MKEFX
MKECX	0.05	0.19	0.9		0.75	-0.25	-0.09	-0.26	0.85	0.03	MKECX
MKDCX	-0.01	0.49	0.79	0.75		-0.06	0.24	0.04	0.66	0.28	MKDCX
MKDVX	-0.06	0.72	-0.31	-0.25	-0.06		0.84	0.79	-0.23	0.83	MKDVX
MKGCX	-0.2	0.91	-0.14	-0.09	0.24	0.84		0.95	-0.2	0.97	MKGCX
MKFOX	-0.29	0.79	-0.31	-0.26	0.04	0.79	0.95		-0.37	0.92	MKFOX
MKILX	0.35	0.12	0.92	0.85	0.66	-0.23	-0.2	-0.37		-0.04	MKILX
BRAPX	-0.1	0.95	-0.02	0.03	0.28	0.83	0.97	0.92	-0.04		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

BRAPX	+ 0.97	MKGCX
BRAPX	+ 0.95	MKCPX
MKFOX	+ 0.95	MKGCX
MKILX	+ 0.92	MKEFX
BRAPX	+ 0.92	MKFOX
MKGCX	+ 0.91	MKCPX

High negative correlations

MKILX	- 0.37	MKFOX
MKFOX	- 0.31	MKEFX
MKDVX	- 0.31	MKEFX
MKFOX	- 0.29	MKCMX
MKFOX	- 0.26	MKECX
MKDVX	- 0.25	MKECX

Risk-Adjusted Indicators

There is a big difference between Blackrock Mutual Fund performing well and Blackrock Exchange 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 Exchange'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	0.13	0.01	(0.42)	(0.06)	0.13	(0.18)	0.34	(0.25)	1.00
MKCPX	0.29	(0.01)	(0.24)	0.08	0.30	(0.41)	0.73	(0.58)	2.21
MKEFX	0.90	(0.16)	0.00	(0.13)	0.00	0.00	1.61	(2.12)	6.83
MKECX	0.64	(0.16)	0.00	(0.19)	0.00	0.00	1.18	(1.47)	3.08
MKDCX	0.76	(0.12)	0.00	(0.17)	0.00	0.00	1.57	(2.04)	5.05
MKDVX	0.47	(0.05)	(0.16)	0.06	0.41	(0.55)	0.93	(0.82)	3.38
MKGCX	0.52	(0.01)	(0.07)	0.11	0.62	(0.55)	1.07	(1.08)	3.14
MKFOX	0.82	(0.02)	(0.02)	0.11	1.19	(0.86)	1.81	(2.41)	5.58
MKILX	0.73	(0.15)	0.00	(0.09)	0.00	0.00	1.23	(1.84)	5.13
BRAPX	0.44	(0.04)	(0.13)	0.06	0.54	(0.51)	1.01	(0.84)	2.96

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