IShares Energy Correlations

IYE Etf

USD 48.41 0.35 0.72%

The current 90-days correlation between iShares Energy ETF and iShares Basic Materials is 0.56 (i.e., Very weak diversification). The correlation of IShares Energy 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 Energy Correlation With Market

Very weak diversification

The correlation between iShares Energy ETF and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Energy ETF 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 Energy ETF. 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

0.99	XLE	Energy Select Sector Aggressive Push	Pair Corr
0.99	VDE	Vanguard Energy Index	Pair Corr
0.77	XOP	SPDR SP Oil	Pair Corr
0.62	OIH	VanEck Oil Services	Pair Corr
0.96	IXC	iShares Global Energy	Pair Corr
0.82	FXN	First Trust Energy	Pair Corr
0.99	FENY	Fidelity MSCI Energy	Pair Corr
0.94	FTXN	First Trust Nasdaq	Pair Corr
0.95	IEO	iShares Oil Gas Low Volatility	Pair Corr
0.73	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against IShares Etf

0.38

Procter Gamble

Pair Corr

Related Correlations Analysis

	IYM	IDU	IYF	IYH	IXC
IYM		0.8	0.79	0.75	0.66	IYM
IDU	0.8		0.63	0.75	0.72	IDU
IYF	0.79	0.63		0.62	0.48	IYF
IYH	0.75	0.75	0.62		0.51	IYH
IXC	0.66	0.72	0.48	0.51		IXC
	IYM	IDU	IYF	IYH	IXC

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IShares Energy Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Energy 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 Energy'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
IYM	0.79	0.01	0.00	(0.05)	0.00	0.00	1.43	(1.89)	5.06
IDU	0.78	0.06	0.10	0.09	0.98	(0.82)	1.78	(2.00)	4.58
IYF	0.84	0.05	0.00	(0.02)	0.00	0.00	1.52	(2.51)	6.03
IYH	0.66	0.07	0.14	0.08	0.69	(0.71)	1.27	(1.15)	3.37
IXC	0.82	0.11	0.12	0.15	1.07	(0.79)	1.52	(2.07)	4.97

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