IShares Technology Correlations

Etfs . USA . 
Etf . iShares Technology ETF
IYW Etf  USD 159.33  1.39  0.88%   
The current 90-days correlation between iShares Technology ETF and iShares Healthcare ETF is 0.4 (i.e., Very weak diversification). The correlation of IShares Technology 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. If the correlation is 0, the equities are not correlated; they are entirely random.

IShares Technology Correlation With Market

Poor diversification

The correlation between iShares Technology ETF and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Technology 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 Technology 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

  1.0VGT Vanguard InformationPairCorr
  0.99XLK Technology Select SectorPairCorr
  0.81SMH VanEck Semiconductor ETFPairCorr
  0.91CIBR First Trust NASDAQPairCorr
  1.0FTEC Fidelity MSCI InformationPairCorr
  0.87IGV iShares Expanded TechPairCorr
  0.91FDN First Trust DowPairCorr
  1.0IGM iShares Expanded TechPairCorr
  0.69XOP SPDR SP OilPairCorr
  0.87IYC iShares Consumer DisPairCorr
  0.97VTI Vanguard Total StockPairCorr
  0.89VBK Vanguard Small CapPairCorr
  0.71T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.82HPQ HP IncPairCorr
  0.74JPM JPMorgan Chase Sell-off TrendPairCorr
  0.71DIS Walt Disney Sell-off TrendPairCorr
  0.89AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.87CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.74TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.92AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.8BAC Bank of America Aggressive PushPairCorr
  0.77WMT Walmart Aggressive PushPairCorr

Moving against IShares Etf

  0.57AIVI WisdomTree InternationalPairCorr
  0.5WTRE WisdomTree New EconomyPairCorr
  0.34VPL Vanguard FTSE PacificPairCorr
  0.82MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.78JNJ Johnson Johnson Sell-off TrendPairCorr

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
+ 0.98
IYZ
IYC
+ 0.95
IYZ
IYC
+ 0.95
IYJ
IYC
+ 0.92
IYF
IYJ
+ 0.89
IYF
IYZ
+ 0.88
IYF
  
High negative correlations   
IYF
- 0.84
IYH
IYC
- 0.82
IYH
IYZ
- 0.81
IYH
IYJ
- 0.73
IYH

IShares Technology Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Technology 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 Technology'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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