(NYSE: BLK), the world's largest asset manager, has endured a difficult couple of years. As the largest provider of exchange-traded funds (ETFs), as well as a prominent manager of mutual funds and institutional investments, its fortunes are largely tied to the movements of the broader markets.
Last year, BlackRock's stock price was down about 20% while the S 500 was also lower by about that much -- 19%, to be exact. The year before, the S 500 was up 28%, while BlackRock was up 29%.
But that's not to say BlackRock always tracks with the broader market. In 2020, BlackRock was up 47% compared to at 18% gain for the S 500. But that was the year that tech stocks surged as the Nasdaq Composite rose 43%.
Source Fool.com