Blackrock Defensive Correlations

Mutual Funds . USA . 
Fund . Blackrock Defensive Advantage
BKDEX Fund  USD 11.14  0.01  0.09%   
The current 90-days correlation between Blackrock Defensive and Blackrock California Municipal is -0.03 (i.e., Good diversification). The correlation of Blackrock Defensive 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 Defensive Correlation With Market

Weak diversification

The correlation between Blackrock Defensive Advantage and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Defensive Advantage 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 Defensive Advantage. 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

  0.93MKCPX Blackrock BalancedPairCorr
  0.97MKEAX MkeaxPairCorr
  0.94MKEFX Blackrock Eurofund ClassPairCorr
  0.97MKECX Blackrock FundsPairCorr
  0.98MKDCX Blackrock EmergingPairCorr
  0.96MKDVX Blackrock Equity DividendPairCorr
  0.96MKGCX Blackrock AdvantagePairCorr
  0.95MKFOX Blackrock Large CapPairCorr
  0.91MKILX Blackrock International Potential GrowthPairCorr
  0.96BRAPX Blackrock AggressivePairCorr
  0.81BRACX Bats Series CPairCorr
  0.7MKNJX Blackrock New JerseyPairCorr
  0.92MKLOX Blackrock Global AllPairCorr
  0.93BRBCX Blackrock TacticalPairCorr
  0.84BRASX Bats Series SPairCorr
  0.93BRCPX Blackrock ConservativePairCorr
  0.95BRGNX Blckrck Fdsiii RssllPairCorr
  0.96BRGPX Blackrock Gwth PreparedPairCorr
  0.95BRGKX Blckrck Fds IiiPairCorr
  0.95BRGAX Blckrck Fdsiii RssllPairCorr
  0.95BRIAX Blackrock RetirementPairCorr
  0.94BRHYX Blackrock Hi YldPairCorr
  0.96MKSCX Blackrock FundsPairCorr
  0.96MKSPX Blackrock Advantage TotalPairCorr
  0.97BRIDX Blackrock RetirementPairCorr
  0.97BRIEX Blackrock RetirementPairCorr
  0.95BRICX Blackrock RetirementPairCorr
  0.96BRMIX Blackrock Midcap IndexPairCorr
  0.78MKWIX Blackrock StrategicPairCorr
  0.96BRMAX Blackrock Midcap IndexPairCorr
  0.95BRMPX Blackrock ModeratePairCorr
  0.96BRMKX Blackrock Midcap IndexPairCorr
  0.92BROKX Blackrock AdvantagePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Blackrock Mutual Fund performing well and Blackrock Defensive 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 Defensive'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
MKCMX  0.15 (0.02) 0.00 (0.74) 0.00 
 0.00 
 0.35 
(0.43)
 1.30 
MKCPX  0.38  0.02 (0.06) 0.18  0.68 
(0.39)
 0.97 
(0.79)
 5.02 
MKEAX  0.83  0.15  0.16  0.28  0.53 
(1.04)
 2.45 
(1.65)
 5.46 
MKEFX  0.75  0.08  0.01  0.28  1.23 
(0.83)
 1.58 
(1.13)
 9.01 
MKECX  0.58  0.19  0.18  0.54  0.17 
(0.78)
 1.60 
(0.79)
 4.61 
MKDCX  0.53  0.18  0.15  0.60  0.00 
(0.65)
 1.56 
(1.04)
 4.09 
MKDVX  0.59  0.04  0.01  0.19  0.65 
(0.66)
 1.52 
(1.18)
 4.22 
MKGCX  0.51  0.12  0.10  0.30  0.31 
(0.56)
 1.58 
(1.19)
 3.54 
MKFOX  0.96  0.12  0.09  0.25  1.06 
(1.14)
 2.71 
(1.60)
 8.66 
MKILX  0.57  0.04 (0.03) 0.21  0.52 
(0.64)
 1.36 
(0.95)
 3.48 

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