IShares Select Correlations

DVY Etf

USD 132.77 0.71 0.53%

The current 90-days correlation between iShares Select Dividend and iShares Preferred and is 0.6 (i.e., Poor diversification). The correlation of IShares Select 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.

IShares Select Correlation With Market

Good diversification

The correlation between iShares Select Dividend and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Select Dividend and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in iShares Select Dividend. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with IShares Etf

0.79	VTV	Vanguard Value Index	Pair Corr
0.8	VYM	Vanguard High Dividend	Pair Corr
0.76	IWD	iShares Russell 1000	Pair Corr
0.82	DGRO	iShares Core Dividend	Pair Corr
0.72	IVE	iShares SP 500	Pair Corr
0.83	SPYV	SPDR Portfolio SP	Pair Corr
0.79	FVD	First Trust Value	Pair Corr
0.71	IUSV	iShares Core SP	Pair Corr
0.81	NOBL	ProShares SP 500	Pair Corr
0.61	JPM	JPMorgan Chase	Pair Corr
0.66	GE	GE Aerospace	Pair Corr

Moving against IShares Etf

0.58

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	SDY	VIG	HDV	PFF	IDV
SDY		0.44	0.8	0.33	0.64	SDY
VIG	0.44		0.11	0.64	-0.14	VIG
HDV	0.8	0.11		0.16	0.91	HDV
PFF	0.33	0.64	0.16		-0.03	PFF
IDV	0.64	-0.14	0.91	-0.03		IDV
	SDY	VIG	HDV	PFF	IDV

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

IDV	+ 0.91	HDV
HDV	+ 0.8	SDY
IDV	+ 0.64	SDY
PFF	+ 0.64	VIG
VIG	+ 0.44	SDY
PFF	+ 0.33	SDY

High negative correlations

IDV	- 0.14	VIG
IDV	- 0.03	PFF

IShares Select Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Select ETF 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 IShares Select'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SDY	0.68	(0.01)	0.00	(0.05)	0.00	0.00	1.15	(1.61)	3.98
VIG	0.67	(0.02)	0.00	(0.06)	0.00	0.00	1.17	(1.52)	3.14
HDV	0.62	0.05	0.10	(0.57)	0.81	(0.59)	1.17	(1.30)	2.84
PFF	0.43	(0.02)	0.00	(17.87)	0.00	0.00	0.80	(0.91)	2.76
IDV	0.60	0.15	0.24	(1.24)	0.58	(0.66)	1.38	(0.97)	2.73

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC