IShares Industrials Correlations

IYJ Etf

USD 133.03 2.69 2.06%

The current 90-days correlation between iShares Industrials ETF and iShares Consumer Discretionary is -0.09 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Industrials moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Industrials ETF moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Industrials Correlation With Market

Good diversification

The correlation between iShares Industrials ETF and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Industrials 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 Industrials 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

0.86	XLI	Industrial Select Sector	Pair Corr
0.61	ITA	iShares Aerospace Defense Low Volatility	Pair Corr
0.87	VIS	Vanguard Industrials	Pair Corr
0.81	JETS	US Global Jets	Pair Corr
0.82	FXR	First Trust Industri	Pair Corr
0.77	PPA	Invesco Aerospace Defense	Pair Corr
0.86	IYT	iShares Transportation	Pair Corr
0.87	FIDU	Fidelity MSCI Industrials	Pair Corr
0.88	HD	Home Depot	Pair Corr
0.8	BAC	Bank of America Aggressive Push	Pair Corr
0.71	DIS	Walt Disney	Pair Corr
0.63	BA	Boeing	Pair Corr

Moving against IShares Etf

0.45	TRV	The Travelers Companies	Pair Corr
0.36	AMPD	Tidal Trust II	Pair Corr
0.35	PMBS	PIMCO Mortgage Backed	Pair Corr
0.38	VZ	Verizon Communications	Pair Corr

Related Correlations Analysis

	IYC	IYK	IYM	IDU	IYZ
IYC		-0.6	0.23	-0.09	0.34	IYC
IYK	-0.6		0.29	0.59	0.35	IYK
IYM	0.23	0.29		0.75	0.79	IYM
IDU	-0.09	0.59	0.75		0.74	IDU
IYZ	0.34	0.35	0.79	0.74		IYZ
	IYC	IYK	IYM	IDU	IYZ

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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	+ 0.59	IYK
IYZ	+ 0.35	IYK
IYZ	+ 0.34	IYC

High negative correlations

IYK	- 0.6	IYC
IDU	- 0.09	IYC

IShares Industrials Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Industrials 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 Industrials' 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
IYC	0.94	(0.12)	0.00	(0.16)	0.00	0.00	1.81	(2.58)	5.06
IYK	0.72	0.03	0.06	(0.23)	1.05	(0.63)	1.34	(1.58)	4.71
IYM	0.78	0.03	0.03	0.00	1.06	(0.79)	1.43	(1.89)	5.06
IDU	0.78	0.03	0.07	(0.16)	0.98	(0.82)	1.78	(2.00)	4.58
IYZ	0.74	0.03	0.03	0.00	1.20	(0.69)	1.43	(1.93)	4.81

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