Blackrock Muniyield Correlations

MYD Fund

USD 11.43 0.02 0.18%

The current 90-days correlation between Blackrock Muniyield and Blackrock Muni Intermediate is 0.26 (i.e., Modest diversification). The correlation of Blackrock Muniyield 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 Muniyield Correlation With Market

Modest diversification

The correlation between Blackrock Muniyield and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Muniyield 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 Muniyield. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Blackrock Fund

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

Moving against Blackrock Fund

0.61	KF	Korea Closed	Pair Corr
0.51	CEE	Central Europe Russia	Pair Corr

Related Correlations Analysis

	MUI	MQY	MYI	MUE	DTF	MVT	JPT	MHD	MQT	MVF
MUI		0.79	0.83	0.81	0.93	0.88	0.62	0.82	0.83	0.86	MUI
MQY	0.79		0.98	0.96	0.82	0.94	0.51	0.97	0.93	0.93	MQY
MYI	0.83	0.98		0.97	0.86	0.94	0.47	0.96	0.96	0.94	MYI
MUE	0.81	0.96	0.97		0.86	0.91	0.43	0.94	0.97	0.94	MUE
DTF	0.93	0.82	0.86	0.86		0.92	0.58	0.86	0.86	0.9	DTF
MVT	0.88	0.94	0.94	0.91	0.92		0.62	0.96	0.89	0.93	MVT
JPT	0.62	0.51	0.47	0.43	0.58	0.62		0.63	0.39	0.52	JPT
MHD	0.82	0.97	0.96	0.94	0.86	0.96	0.63		0.92	0.93	MHD
MQT	0.83	0.93	0.96	0.97	0.86	0.89	0.39	0.92		0.92	MQT
MVF	0.86	0.93	0.94	0.94	0.9	0.93	0.52	0.93	0.92		MVF
	MUI	MQY	MYI	MUE	DTF	MVT	JPT	MHD	MQT	MVF

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Risk-Adjusted Indicators

There is a big difference between Blackrock Fund performing well and Blackrock Muniyield 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 Muniyield'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
MUI	0.18	0.04	(0.25)	1.12	0.00	(0.24)	0.40	(0.32)	1.05
MQY	0.31	0.10	0.01	0.84	0.00	(0.37)	0.79	(0.57)	2.13
MYI	0.32	0.11	0.03	0.95	0.00	(0.40)	1.03	(0.45)	2.66
MUE	0.35	0.10	(0.03)	(2.47)	0.19	(0.40)	0.85	(0.67)	2.54
DTF	0.28	0.04	(0.20)	6.28	0.21	(0.35)	0.64	(0.54)	1.70
MVT	0.42	0.06	(0.05)	0.60	0.55	(0.47)	1.06	(0.89)	2.84
JPT	0.62	0.02	(0.09)	(0.07)	1.04	(0.57)	1.33	(1.82)	4.64
MHD	0.33	0.07	(0.05)	0.82	0.27	(0.37)	0.72	(0.59)	2.56
MQT	0.36	0.10	(0.02)	(2.81)	0.39	(0.38)	0.93	(0.67)	3.22
MVF	0.42	0.08	(0.03)	0.93	0.38	(0.50)	0.85	(0.95)	2.29

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