IShares Cybersecurity Correlations

IHAK Etf

USD 50.96 0.34 0.67%

The current 90-days correlation between iShares Cybersecurity and and Invesco DWA Utilities is 0.14 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Cybersecurity moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Cybersecurity and moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Cybersecurity Correlation With Market

Poor diversification

The correlation between iShares Cybersecurity and and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Cybersecurity and 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 Cybersecurity and. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with IShares Etf

0.92	VGT	Vanguard Information	Pair Corr
0.93	XLK	Technology Select Sector	Pair Corr
0.87	IYW	iShares Technology ETF	Pair Corr
0.65	SMH	VanEck Semiconductor ETF	Pair Corr
0.91	CIBR	First Trust NASDAQ	Pair Corr
0.88	FTEC	Fidelity MSCI Information	Pair Corr
0.76	IGV	iShares Expanded Tech	Pair Corr
0.81	FDN	First Trust Dow	Pair Corr
0.86	IGM	iShares Expanded Tech	Pair Corr
0.84	MAPP	Harbor ETF Trust	Pair Corr
0.82	EVUS	iShares ESG Aware Potential Growth	Pair Corr
0.82	EOS	Eaton Vance Enhanced	Pair Corr
0.81	VBK	Vanguard Small Cap	Pair Corr
0.75	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.77	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.8	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.67	WMT	Walmart	Pair Corr
0.76	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.72	HD	Home Depot	Pair Corr

Moving against IShares Etf

0.71	BITI	ProShares Trust Downward Rally	Pair Corr
0.62	GREI	Goldman Sachs Future	Pair Corr
0.44	HART	IQ Healthy Hearts	Pair Corr
0.62	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.62	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.53	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr

Related Correlations Analysis

	PUI	PWV	SCRYY	MSTSX	LBHIX	VIASP	XTWO	SVII	70082LAB3	XTWY
PUI		0.88	0.69	0.49	0.62	0.64	-0.32	-0.13	0.57	-0.49	PUI
PWV	0.88		0.68	0.57	0.61	0.68	-0.54	0.11	0.7	-0.67	PWV
SCRYY	0.69	0.68		0.38	0.56	0.77	-0.17	-0.4	0.52	-0.37	SCRYY
MSTSX	0.49	0.57	0.38		0.65	0.08	-0.1	0.17	0.2	-0.32	MSTSX
LBHIX	0.62	0.61	0.56	0.65		0.5	-0.02	-0.11	0.41	-0.24	LBHIX
VIASP	0.64	0.68	0.77	0.08	0.5		-0.3	-0.22	0.71	-0.43	VIASP
XTWO	-0.32	-0.54	-0.17	-0.1	-0.02	-0.3		-0.55	-0.65	0.9	XTWO
SVII	-0.13	0.11	-0.4	0.17	-0.11	-0.22	-0.55		0.29	-0.45	SVII
70082LAB3	0.57	0.7	0.52	0.2	0.41	0.71	-0.65	0.29		-0.73	70082LAB3
XTWY	-0.49	-0.67	-0.37	-0.32	-0.24	-0.43	0.9	-0.45	-0.73		XTWY
	PUI	PWV	SCRYY	MSTSX	LBHIX	VIASP	XTWO	SVII	70082LAB3	XTWY

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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

XTWY	+ 0.9	XTWO
PWV	+ 0.88	PUI
VIASP	+ 0.77	SCRYY
70082LAB3	+ 0.71	VIASP
70082LAB3	+ 0.7	PWV
SCRYY	+ 0.69	PUI

High negative correlations

XTWY	- 0.73	70082LAB3
XTWY	- 0.67	PWV
70082LAB3	- 0.65	XTWO
SVII	- 0.55	XTWO
XTWO	- 0.54	PWV
XTWY	- 0.49	PUI

IShares Cybersecurity Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Cybersecurity 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 Cybersecurity'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
PUI	0.73	0.01	(0.06)	0.15	0.82	(0.80)	1.82	(1.56)	4.35
PWV	0.53	(0.04)	(0.11)	0.06	0.44	(0.66)	1.03	(0.87)	4.58
SCRYY	1.87	0.36	0.09	(0.62)	1.75	(2.79)	5.61	(3.52)	12.99
MSTSX	0.45	0.00	(0.10)	0.11	0.39	(0.58)	1.21	(0.84)	2.80
LBHIX	0.10	0.01	(0.41)	0.24	0.00	(0.25)	0.24	(0.24)	0.71
VIASP	0.76	0.12	0.00	(1.56)	1.12	(0.82)	2.28	(1.20)	7.18
XTWO	0.08	(0.01)	0.00	1.36	0.00	0.00	0.12	(0.12)	0.53
SVII	0.18	(0.05)	(0.17)	(0.03)	0.39	(0.29)	0.44	(0.53)	4.77
70082LAB3	0.70	0.07	(0.03)	1.15	0.99	(0.84)	1.75	(1.19)	6.86
XTWY	0.76	(0.13)	0.00	1.56	0.00	0.00	1.33	(1.70)	5.49

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