Bats Series Correlations

BRASX Fund

USD 9.25 0.01 0.11%

The current 90-days correlation between Bats Series S and Calamos Dynamic Convertible is -0.03 (i.e., Good diversification). The correlation of Bats Series 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.

Bats Series Correlation With Market

Good diversification

The correlation between Bats Series S and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bats Series S 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 Bats Series S. 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 state.

Moving together with Bats Mutual Fund

0.89	MKCPX	Blackrock Balanced	Pair Corr
0.85	MKEAX	Mkeax	Pair Corr
0.84	MKEFX	Blackrock Eurofund Class	Pair Corr
0.9	MKECX	Blackrock Funds	Pair Corr
0.88	MKDCX	Blackrock Emerging	Pair Corr
0.9	MKDVX	Blackrock Equity Dividend	Pair Corr
0.9	MKGCX	Blackrock Advantage	Pair Corr
0.87	MKFOX	Blackrock Large Cap	Pair Corr
0.77	MKILX	Blackrock International Potential Growth	Pair Corr
0.9	BRAPX	Blackrock Aggressive	Pair Corr
0.82	BRAMX	Bats Series M	Pair Corr
0.97	BRACX	Bats Series C	Pair Corr
0.68	MKNJX	Blackrock New Jersey	Pair Corr
0.89	MKLOX	Blackrock Global All	Pair Corr
0.83	BRBCX	Blackrock Tactical	Pair Corr
0.95	BRCPX	Blackrock Conservative	Pair Corr
0.89	BRGNX	Blckrck Fdsiii Rssll	Pair Corr
0.91	BRGPX	Blackrock Gwth Prepared	Pair Corr
0.89	BRGKX	Blckrck Fds Iii	Pair Corr
0.89	BRGAX	Blckrck Fdsiii Rssll	Pair Corr
0.92	BRIAX	Blackrock Retirement	Pair Corr
0.93	BRHYX	Blackrock Hi Yld	Pair Corr
0.89	MKSCX	Blackrock Funds	Pair Corr
0.85	MKSPX	Blackrock Advantage Total	Pair Corr
0.9	BRIDX	Blackrock Retirement	Pair Corr
0.9	BRIEX	Blackrock Retirement	Pair Corr
0.92	BRICX	Blackrock Retirement	Pair Corr
0.86	BRMIX	Blackrock Midcap Index	Pair Corr
0.94	MKWIX	Blackrock Strategic	Pair Corr
0.86	BRMAX	Blackrock Midcap Index	Pair Corr
0.92	BRMPX	Blackrock Moderate	Pair Corr
0.86	BRMKX	Blackrock Midcap Index	Pair Corr
0.85	BROKX	Blackrock Advantage	Pair Corr

Related Correlations Analysis

	CCD	PCNTX	XNCVX	PBXIX	ARBOX	GCV
CCD		-0.14	-0.2	0.16	-0.17	-0.34	CCD
PCNTX	-0.14		0.99	0.91	0.99	0.95	PCNTX
XNCVX	-0.2	0.99		0.9	0.99	0.97	XNCVX
PBXIX	0.16	0.91	0.9		0.9	0.83	PBXIX
ARBOX	-0.17	0.99	0.99	0.9		0.95	ARBOX
GCV	-0.34	0.95	0.97	0.83	0.95		GCV
	CCD	PCNTX	XNCVX	PBXIX	ARBOX	GCV

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

XNCVX	+ 0.99	PCNTX
ARBOX	+ 0.99	PCNTX
ARBOX	+ 0.99	XNCVX
GCV	+ 0.97	XNCVX
GCV	+ 0.95	PCNTX
GCV	+ 0.95	ARBOX

High negative correlations

GCV	- 0.34	CCD
XNCVX	- 0.2	CCD
ARBOX	- 0.17	CCD
PCNTX	- 0.14	CCD

Risk-Adjusted Indicators

There is a big difference between Bats Mutual Fund performing well and Bats Series 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 Bats Series' 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
CCD	0.62	(0.02)	(0.10)	0.09	0.83	(0.65)	1.32	(1.03)	4.97
PCNTX	0.44	0.22	0.16	(2.50)	0.00	(0.55)	1.06	(0.53)	3.21
XNCVX	0.47	0.25	0.20	(16.50)	0.00	(0.66)	1.33	(0.78)	3.12
PBXIX	0.35	0.03	(0.08)	0.21	0.29	(0.43)	0.83	(0.54)	2.63
ARBOX	0.06	0.03	(1.09)	6.93	0.00	(0.12)	0.18	(0.09)	0.35
GCV	0.62	0.17	0.10	0.76	0.48	(0.81)	1.70	(1.21)	3.77

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