IShares Healthcare Correlations

IYH Etf

USD 61.64 0.50 0.82%

The current 90-days correlation between iShares Healthcare ETF and iShares Financials ETF is 0.46 (i.e., Very weak diversification). The correlation of IShares Healthcare 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 Healthcare Correlation With Market

Good diversification

The correlation between iShares Healthcare ETF and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Healthcare 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 Healthcare 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

0.98	XLV	Health Care Select	Pair Corr
1.0	VHT	Vanguard Health Care	Pair Corr
0.71	IBB	iShares Biotechnology ETF	Pair Corr
0.72	IHI	iShares Medical Devices	Pair Corr
0.96	IXJ	iShares Global Healthcare	Pair Corr
1.0	FHLC	Fidelity MSCI Health	Pair Corr
0.8	IHF	iShares Healthcare	Pair Corr
0.7	IGA	Voya Global Advantage	Pair Corr
0.64	GDXU	MicroSectors Gold Miners	Pair Corr
0.66	MMM	3M Company	Pair Corr
0.65	IBM	International Business	Pair Corr
0.66	GE	GE Aerospace	Pair Corr

Moving against IShares Etf

0.46	AA	Alcoa Corp	Pair Corr
0.37	SEMI	Columbia Seligman	Pair Corr
0.33	MAGS	Roundhill Magnificent	Pair Corr

Related Correlations Analysis

	IYF	IYC	IYJ	IYK	IDU
IYF		0.72	0.88	-0.03	0.57	IYF
IYC	0.72		0.9	-0.57	-0.03	IYC
IYJ	0.88	0.9		-0.4	0.25	IYJ
IYK	-0.03	-0.57	-0.4		0.61	IYK
IDU	0.57	-0.03	0.25	0.61		IDU
	IYF	IYC	IYJ	IYK	IDU

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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

IYJ	+ 0.9	IYC
IYJ	+ 0.88	IYF
IYC	+ 0.72	IYF
IDU	+ 0.61	IYK
IDU	+ 0.57	IYF
IDU	+ 0.25	IYJ

High negative correlations

IYK	- 0.57	IYC
IYK	- 0.4	IYJ
IDU	- 0.03	IYC
IYK	- 0.03	IYF

IShares Healthcare Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Healthcare 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 Healthcare'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
IYF	0.81	0.00	0.06	0.00	1.12	(0.81)	1.88	(1.66)	6.03
IYC	0.92	(0.16)	0.00	1.03	0.00	0.00	1.75	(2.38)	5.01
IYJ	0.81	(0.04)	0.00	1.67	0.00	0.00	1.44	(1.77)	4.22
IYK	0.69	0.08	0.10	1.95	1.01	(0.63)	1.34	(1.58)	4.71
IDU	0.74	0.06	0.10	0.73	0.87	(0.82)	1.78	(1.78)	4.58

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