IShares Consumer Correlations

Etfs . USA . 
Etf . iShares Consumer Staples
IYK Etf  USD 68.93  0.31  0.45%   
The current 90-days correlation between iShares Consumer Staples and iShares Industrials ETF is 0.32 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Consumer moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Consumer Staples moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Consumer Correlation With Market

Good diversification

The correlation between iShares Consumer Staples and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Consumer Staples 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 Staples. 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

  0.88XLP Consumer Staples SelectPairCorr
  0.68VDC Vanguard Consumer StaplesPairCorr
  0.96KXI iShares Global ConsumerPairCorr
  0.67FSTA Fidelity MSCI ConsumerPairCorr
  0.66FTXG First Trust NasdaqPairCorr
  0.68RHS Invesco SP 500PairCorr
  0.66GDXU MicroSectors Gold MinersPairCorr
  0.69IBM International BusinessPairCorr
  0.78TRV The Travelers CompaniesPairCorr
  0.77PG Procter GamblePairCorr
  0.92JNJ Johnson JohnsonPairCorr
  0.92KO Coca Cola Sell-off TrendPairCorr

Moving against IShares Etf

  0.78USD ProShares Ultra SemiPairCorr
  0.76GBTC Grayscale Bitcoin TrustPairCorr
  0.74NAIL Direxion Daily HomebPairCorr
  0.71TECL Direxion Daily TechnologyPairCorr
  0.67FNGO MicroSectors FANG IndexPairCorr
  0.59SPXL Direxion Daily SP500PairCorr
  0.59UPRO ProShares UltraPro SP500PairCorr
  0.55FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.48DUSL Direxion Daily IndusPairCorr
  0.78AA Alcoa CorpPairCorr
  0.68BAC Bank of America Aggressive PushPairCorr
  0.64AXP American ExpressPairCorr
  0.59HD Home DepotPairCorr
  0.58HPQ HP IncPairCorr
  0.42MRK Merck CompanyPairCorr
  0.41BA BoeingPairCorr

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   
IYJ
+ 0.86
IYC
IYZ
+ 0.79
IYM
IYM
+ 0.75
IDU
IYZ
+ 0.74
IDU
IYZ
+ 0.54
IYJ
IYM
+ 0.5
IYJ
  
High negative correlations   
IDU
- 0.09
IYC

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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