This module allows you to analyze existing cross correlation between BlackRock MuniYield Investment Quality Fund and Otis Gold Corp. You can compare the effects of market volatilities on BlackRock MuniYield and Otis Gold and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in BlackRock MuniYield with a short position of Otis Gold. See also your portfolio center. Please also check ongoing floating volatility patterns of BlackRock MuniYield and Otis Gold.
Considering 30-days investment horizon, BlackRock MuniYield Investment Quality Fund is expected to generate 0.09 times more return on investment than Otis Gold. However, BlackRock MuniYield Investment Quality Fund is 10.93 times less risky than Otis Gold. It trades about -0.1 of its potential returns per unit of risk. Otis Gold Corp is currently generating about -0.03 per unit of risk. If you would invest 1,306 in BlackRock MuniYield Investment Quality Fund on June 23, 2018 and sell it today you would lose (16.00) from holding BlackRock MuniYield Investment Quality Fund or give up 1.23% of portfolio value over 30 days.
Pair Corralation between BlackRock MuniYield and Otis Gold
Overlapping area represents the amount of risk that can be diversified away by holding BlackRock MuniYield Investment and Otis Gold Corp in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Otis Gold Corp and BlackRock MuniYield is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on BlackRock MuniYield Investment Quality Fund are associated (or correlated) with Otis Gold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Otis Gold Corp has no effect on the direction of BlackRock MuniYield i.e. BlackRock MuniYield and Otis Gold go up and down completely randomly.
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