Blackrock Enhanced Correlations

Funds . USA . 
Fund . Blackrock Enhanced Equity
BDJ Fund  USD 8.72  0.14  1.58%   
The current 90-days correlation between Blackrock Enhanced Equity and BlackRock Capital Allocation is -0.01 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Blackrock Enhanced moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Blackrock Enhanced Equity moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Blackrock Enhanced Correlation With Market

Poor diversification

The correlation between Blackrock Enhanced Equity and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Enhanced Equity 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 Equity. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Blackrock Fund

  0.96SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.7SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.66TTEEX T Rowe PricePairCorr
  0.96TREMX T Rowe PricePairCorr
  0.97FIKGX Fidelity Advisor SemPairCorr
  0.68ONERX One Rock Fund Steady GrowthPairCorr
  0.97FELIX Fidelity Advisor SemPairCorr
  0.97FSELX Fidelity Select SemiPairCorr
  0.97FELAX Fidelity Advisor SemPairCorr
  0.8NWHZX Nationwide Geneva SmallPairCorr
  0.62TGRKX Tiaa Cref GreenPairCorr
  0.94PSHAX Short Term FundPairCorr
  0.91PYSIX Payden Strategic IncomePairCorr
  0.99JTRBX Jpmorgan SmartretirementPairCorr
  0.98CYYYX Columbia ThermostatPairCorr
  0.98GCMUX Goldman Sachs MidPairCorr
  0.92MMUJX Mfs UtilitiesPairCorr
  0.99NWASX Nationwide DestinationPairCorr
  0.99BSMKX Blackrock Smallmid CapPairCorr
  0.73SBQAX Americafirst Large CapPairCorr
  0.93PPILX Deutsche Short DurationPairCorr
  0.73NREEX Neuberger Berman RealPairCorr
  0.92PRIKX T Rowe PricePairCorr
  0.98SSCVX Columbia Select SmallerPairCorr
  0.9RPEIX T Rowe PricePairCorr
  0.74VFINX Vanguard 500 IndexPairCorr
  0.96MIGFX Massachusetts InvestorsPairCorr
  0.72ROGSX Red Oak TechnologyPairCorr
  0.98GGCCX Gabelli GrowthPairCorr
  0.74FAQTX American Funds 2035PairCorr
  0.94PDARX Diversified Real AssetPairCorr
  0.73HSIIX Eagle Small CapPairCorr
  0.75JFQUX Jpmorgan InvestorPairCorr
  0.99NTDSX Nationwide DestinationPairCorr
  0.85MLXIX Catalyst Mlp InfrastPairCorr
  0.69PNJRX Putnam New JerseyPairCorr
  0.69FPHAX Pharmaceuticals PortfolioPairCorr
  0.99GVALX Gotham Large ValuePairCorr
  0.99SWEGX Schwab Markettrack AllPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
BGR  0.74  0.16  0.05  0.71  0.85 
(0.83)
 1.71 
(1.71)
 5.33 
BCAT  0.52  0.25  0.20 (3.76) 0.00 
(0.65)
 1.48 
(0.89)
 3.62 
BUI  0.58  0.22  0.21  0.67  0.00 
(0.70)
 1.38 
(0.80)
 3.80 
CII  0.57  0.36  0.46  2.59  0.00 
(0.74)
 1.81 
(0.74)
 4.32 
BME  0.66 (0.07)(0.12) 0.01  0.96 
(0.58)
 1.17 
(1.39)
 3.32 
BLW  0.35  0.10 (0.01) 0.68  0.00 
(0.48)
 1.08 
(0.43)
 2.57 
BOE  0.58  0.07  0.03  0.25  0.42 
(0.72)
 1.70 
(0.78)
 3.06 
ETY  0.67  0.14  0.11  0.29  0.64 
(0.74)
 1.79 
(0.90)
 4.12 
ETJ  0.45  0.20  0.17 (43.24) 0.00 
(0.61)
 1.41 
(0.57)
 3.20 
BGY  0.67  0.08  0.03  0.28  0.52 
(0.83)
 1.40 
(0.89)
 6.13 

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