Blackrock Enhanced Correlations

CII Fund

USD 17.27 0.05 0.29%

The current 90-days correlation between Blackrock Enhanced and Eaton Vance Tax is 0.95 (i.e., Almost no diversification). The correlation of Blackrock Enhanced 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 Enhanced Correlation With Market

Almost no diversification

The correlation between Blackrock Enhanced Capital and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Enhanced Capital 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 Enhanced Capital. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Blackrock Fund

0.71	PEO	Adams Natural Resources	Pair Corr
0.93	IAF	Aberdeen Australia	Pair Corr
0.69	MGXBX	Mainstay Growth Allo	Pair Corr

Moving against Blackrock Fund

0.89	TWAVX	Short Term Government	Pair Corr
0.86	BUBSX	Baird Ultra Short	Pair Corr
0.79	FOSIX	Short Intermediate Bond	Pair Corr
0.73	DAAIX	Dunham Appreciation	Pair Corr
0.73	PMZIX	Pimco Mortgage Oppor	Pair Corr
0.72	SWZ	Swiss Helvetia Closed	Pair Corr
0.58	DOXIX	Dodge Cox Income	Pair Corr
0.49	ICTUX	Icon Utilities And	Pair Corr
0.38	ACEVX	International Value	Pair Corr
0.83	NUSAX	Nationwide Government	Pair Corr
0.8	HRSTX	Rational Real Strategies	Pair Corr
0.79	CGTCX	Us Government Securities	Pair Corr
0.77	TSDLX	T Rowe Price	Pair Corr
0.72	SAOCX	Guggenheim Alpha Opp	Pair Corr
0.69	FSAGX	Gold Portfolio Gold Steady Growth	Pair Corr
0.67	INIVX	International Investors Steady Growth	Pair Corr
0.64	WMBDX	Wesmark Government Bond	Pair Corr
0.63	GCGGX	Deutsche Gnma	Pair Corr
0.59	RIBIX	Rbc Impact Bond	Pair Corr
0.52	NRABX	Neuberger Berman Absolute	Pair Corr
0.47	TGROX	Tiaa Cref Green	Pair Corr
0.46	PONAX	Pimco Income	Pair Corr
0.35	RCTIX	River Canyon Total	Pair Corr

Related Correlations Analysis

	ETV	ETW	ETJ	ETB	ETY	JQC	EAD	FPF
ETV		0.94	0.97	0.98	0.99	0.87	0.89	0.82	ETV
ETW	0.94		0.86	0.89	0.96	0.9	0.95	0.91	ETW
ETJ	0.97	0.86		0.98	0.94	0.79	0.78	0.71	ETJ
ETB	0.98	0.89	0.98		0.96	0.83	0.84	0.76	ETB
ETY	0.99	0.96	0.94	0.96		0.88	0.92	0.88	ETY
JQC	0.87	0.9	0.79	0.83	0.88		0.92	0.88	JQC
EAD	0.89	0.95	0.78	0.84	0.92	0.92		0.97	EAD
FPF	0.82	0.91	0.71	0.76	0.88	0.88	0.97		FPF
	ETV	ETW	ETJ	ETB	ETY	JQC	EAD	FPF

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Risk-Adjusted Indicators

There is a big difference between Blackrock Fund performing well and Blackrock Enhanced 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 Enhanced'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ETV	1.06	(0.04)	(0.16)	1.51	(2.51)	12.68
ETW	0.98	0.06	(0.06)	1.36	(2.33)	12.75
ETJ	0.94	(0.02)	(0.14)	1.62	(2.48)	11.62
ETB	1.02	(0.06)	(0.18)	1.39	(2.53)	11.29
ETY	1.13	0.01	(0.12)	1.45	(3.11)	14.13
JQC	0.83	(0.06)	(0.22)	1.43	(2.00)	10.65
EAD	0.66	(0.01)	(0.13)	1.28	(1.90)	7.98
FPF	0.65	0.00	(0.12)	1.27	(1.92)	7.97

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