Blackrock Munivest Correlations

MVT Fund

USD 11.39 0.02 0.18%

The current 90-days correlation between Blackrock Munivest and Blackrock Muniyield is 0.75 (i.e., Poor diversification). The correlation of Blackrock Munivest 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 Munivest Correlation With Market

Average diversification

The correlation between Blackrock Munivest and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Munivest 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 Munivest. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Blackrock Fund

0.69	NDP	Tortoise Energy Inde	Pair Corr
0.67	BTO	John Hancock Financial	Pair Corr
0.84	NTG	Tortoise Mlp Closed	Pair Corr
0.82	CCD	Calamos Dynamic Conv	Pair Corr
0.75	SRV	Cushing Mlp Total	Pair Corr
0.93	DNP	Dnp Select Income	Pair Corr
0.95	NVG	Nuveen Amt Free	Pair Corr
0.72	DODGX	Dodge Stock Fund	Pair Corr
0.91	UTF	Cohen And Steers	Pair Corr
0.89	REJTX	American Funds 2015	Pair Corr
0.71	VWTSX	Voya Mutual Funds	Pair Corr
0.88	OPTAX	Oppenheimer Rochester	Pair Corr
0.78	GIPAX	Goldman Sachs Balanced	Pair Corr
0.78	RGPFX	American Funds Balanced	Pair Corr
0.92	CREYX	Columbia Real Estate	Pair Corr
0.93	FBNDX	Fidelity Investment Grade	Pair Corr
0.94	RGCCX	Global Opportunistic	Pair Corr

Moving against Blackrock Fund

0.56	KF	Korea Closed	Pair Corr
0.49	CEE	Central Europe Russia	Pair Corr

Related Correlations Analysis

	MYD	MQY	DTF	CMU	CXE	JHS	MHD
MYD		0.96	0.92	0.96	0.96	0.92	0.98	MYD
MQY	0.96		0.82	0.95	0.94	0.9	0.97	MQY
DTF	0.92	0.82		0.91	0.9	0.92	0.86	DTF
CMU	0.96	0.95	0.91		0.95	0.96	0.94	CMU
CXE	0.96	0.94	0.9	0.95		0.92	0.96	CXE
JHS	0.92	0.9	0.92	0.96	0.92		0.88	JHS
MHD	0.98	0.97	0.86	0.94	0.96	0.88		MHD
	MYD	MQY	DTF	CMU	CXE	JHS	MHD

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Risk-Adjusted Indicators

There is a big difference between Blackrock Fund performing well and Blackrock Munivest 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 Munivest'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
MYD	0.38	0.08	(0.02)	0.67	0.33	(0.45)	0.82	(0.61)	2.63
MQY	0.31	0.10	0.01	0.84	0.00	(0.37)	0.79	(0.57)	2.13
DTF	0.28	0.04	(0.20)	6.28	0.21	(0.35)	0.64	(0.54)	1.70
CMU	0.37	0.10	0.01	1.18	0.14	(0.49)	0.85	(0.58)	2.00
CXE	0.43	0.14	0.04	(4.56)	0.19	(0.62)	1.08	(0.54)	2.93
JHS	0.36	0.09	(0.01)	0.61	0.19	(0.44)	0.91	(0.62)	2.91
MHD	0.33	0.07	(0.05)	0.82	0.27	(0.37)	0.72	(0.59)	2.56

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