IShares Consumer Correlations

Etfs . USA . 
Etf . iShares Consumer Discretionary
IYC Etf  USD 90.51  0.05  0.06%   
The current 90-days correlation between iShares Consumer Dis and iShares Industrials ETF is 0.77 (i.e., Poor diversification). The correlation of IShares Consumer 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.

IShares Consumer Correlation With Market

Very poor diversification

The correlation between iShares Consumer Discretionary and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Consumer Discretionary 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 Consumer Discretionary. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with IShares Etf

  0.94XLY Consumer DiscretionaryPairCorr
  0.96VCR Vanguard ConsumerPairCorr
  0.78ITB iShares Home Construction Sell-off TrendPairCorr
  0.94FDIS Fidelity MSCI ConsumerPairCorr
  0.82XHB SPDR SP HomebuildersPairCorr
  0.91PEJ Invesco Dynamic LeisurePairCorr
  0.96FXD First Trust ConsumerPairCorr
  0.91RCD Ready CapitalPairCorr
  0.91XRT SPDR SP Retail Sell-off TrendPairCorr
  0.86SWP SWP Growth IncomePairCorr
  0.98WINN Harbor Long TermPairCorr
  0.7BA BoeingPairCorr
  0.64CAT CaterpillarPairCorr
  0.88BAC Bank of AmericaPairCorr
  0.95AXP American ExpressPairCorr
  0.89DIS Walt DisneyPairCorr
  0.93HD Home DepotPairCorr
  0.81WMT WalmartPairCorr
  0.84HPQ HP Inc Sell-off TrendPairCorr

Moving against IShares Etf

  0.96FNGD MicroSectors FANG IndexPairCorr
  0.75SHLD Global X FundsPairCorr
  0.53XOM Exxon Mobil Corp Earnings Call This WeekPairCorr
  0.68VZ Verizon Communications Aggressive PushPairCorr
  0.58JNJ Johnson JohnsonPairCorr
  0.55KO Coca Cola Aggressive PushPairCorr
  0.5T ATT Inc Aggressive PushPairCorr
  0.44CVX Chevron CorpPairCorr

Related Correlations Analysis

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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   
IYZ
+ 0.79
IYM
IDU
+ 0.75
IYM
IYZ
+ 0.74
IDU
IDU
+ 0.62
IYK
IYM
+ 0.54
IYJ
IYZ
+ 0.53
IYJ
  
High negative correlations   
IYJ
- 0.4
IYK

IShares Consumer Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Consumer 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 Consumer'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.

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