IShares Trust Correlations

HYGW Etf

USD 31.52 0.02 0.06%

The current 90-days correlation between iShares Trust and iShares Trust is 0.4 (i.e., Very weak diversification). The correlation of IShares Trust 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 Trust Correlation With Market

Good diversification

The correlation between iShares Trust and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iShares Trust . Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

For more information on how to buy IShares Etf please use our How to Invest in IShares Trust guide.

Moving together with IShares Etf

0.76	JEPI	JPMorgan Equity Premium	Pair Corr
0.7	DIVO	Amplify CWP Enhanced	Pair Corr
0.67	KNG	FT Cboe Vest	Pair Corr
0.83	SIXH	ETC 6 Meridian	Pair Corr
0.63	BUYW	Main Buywrite ETF	Pair Corr
0.71	IDME	International Drawdown Low Volatility	Pair Corr
0.71	T	ATT Inc Earnings Call This Week	Pair Corr
0.66	MMM	3M Company	Pair Corr
0.77	CSCO	Cisco Systems	Pair Corr

Moving against IShares Etf

0.63	MRK	Merck Company	Pair Corr
0.54	AA	Alcoa Corp	Pair Corr
0.35	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	LQDW	TLTW	SVOL	OARK	CEFD
LQDW		0.93	-0.28	-0.47	0.26	LQDW
TLTW	0.93		-0.39	-0.56	0.07	TLTW
SVOL	-0.28	-0.39		0.92	0.79	SVOL
OARK	-0.47	-0.56	0.92		0.65	OARK
CEFD	0.26	0.07	0.79	0.65		CEFD
	LQDW	TLTW	SVOL	OARK	CEFD

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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

TLTW	+ 0.93	LQDW
OARK	+ 0.92	SVOL
CEFD	+ 0.79	SVOL
CEFD	+ 0.65	OARK
CEFD	+ 0.26	LQDW
CEFD	+ 0.07	TLTW

High negative correlations

OARK	- 0.56	TLTW
OARK	- 0.47	LQDW
SVOL	- 0.39	TLTW
SVOL	- 0.28	LQDW

IShares Trust Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Trust 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 Trust'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
LQDW	0.15	0.02	0.34	(1.58)	0.17	(0.15)	0.27	(0.35)	1.33
TLTW	0.35	0.02	0.17	0.76	0.49	(0.36)	0.64	(0.78)	2.30
SVOL	1.12	(0.18)	0.00	0.80	0.00	0.00	2.07	(3.01)	7.96
OARK	1.89	(0.28)	0.00	1.07	0.00	0.00	3.10	(5.15)	11.92
CEFD	0.78	(0.09)	0.00	0.29	0.00	0.00	1.43	(1.80)	4.41

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