IShares Energy Correlations

IYE Etf

USD 47.63 0.19 0.40%

The current 90-days correlation between iShares Energy ETF and iShares Basic Materials is 0.58 (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

Modest diversification

The correlation between iShares Energy ETF and DJI is 0.27 (i.e., Modest 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

1.0	XLE	Energy Select Sector Aggressive Push	Pair Corr
1.0	VDE	Vanguard Energy Index	Pair Corr
0.96	XOP	SPDR SP Oil	Pair Corr
0.96	OIH	VanEck Oil Services	Pair Corr
0.99	IXC	iShares Global Energy	Pair Corr
0.93	FXN	First Trust Energy	Pair Corr
1.0	FENY	Fidelity MSCI Energy	Pair Corr
0.99	FTXN	First Trust Nasdaq	Pair Corr
0.98	IEO	iShares Oil Gas	Pair Corr
0.73	HUM	Humana Inc	Pair Corr
0.66	CAT	Caterpillar Sell-off Trend	Pair Corr
0.62	HPQ	HP Inc	Pair Corr
0.68	BAC	Bank of America	Pair Corr
0.69	INTC	Intel Aggressive Push	Pair Corr
0.65	AA	Alcoa Corp	Pair Corr
0.95	CVX	Chevron Corp	Pair Corr

Moving against IShares Etf

0.44	WINN	Harbor Long Term	Pair Corr
0.36	PFE	Pfizer Inc	Pair Corr
0.31	WMT	Walmart Earnings Call This Week	Pair Corr

Related Correlations Analysis

	IYM	IDU	IYF	IYH	IXC
IYM		0.86	0.67	0.68	0.8	IYM
IDU	0.86		0.81	0.64	0.78	IDU
IYF	0.67	0.81		0.8	0.6	IYF
IYH	0.68	0.64	0.8		0.56	IYH
IXC	0.8	0.78	0.6	0.56		IXC
	IYM	IDU	IYF	IYH	IXC

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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	0.69	(0.08)	0.00	(0.15)	0.00	0.00	1.15	(1.38)	4.00
IDU	0.73	0.01	0.01	0.03	0.93	(0.77)	1.50	(1.78)	4.34
IYF	0.66	0.07	0.06	0.10	0.90	(0.68)	1.47	(1.16)	5.26
IYH	0.66	(0.06)	0.00	(0.12)	0.00	0.00	1.27	(1.42)	3.02
IXC	0.78	(0.03)	0.00	(0.08)	0.00	0.00	1.30	(1.92)	4.02

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