IShares Dow Correlations

Etfs . USA . 
Etf . iShares Dow Jones
IYY Etf  USD 137.45  0.08  0.06%   
The current 90-days correlation between iShares Dow Jones and iShares Industrials ETF is 0.85 (i.e., Very poor diversification). The correlation of IShares Dow 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 Dow Correlation With Market

Poor diversification

The correlation between iShares Dow Jones and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Dow Jones 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 Dow Jones. 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

  0.93VTI Vanguard Total StockPairCorr
  1.0SPY SPDR SP 500PairCorr
  1.0IVV iShares Core SP Sell-off TrendPairCorr
  0.71VIG Vanguard DividendPairCorr
  1.0VV Vanguard Large CapPairCorr
  0.81RSP Invesco SP 500PairCorr
  1.0IWB iShares Russell 1000PairCorr
  1.0ESGU iShares ESG AwarePairCorr
  0.99DFAC Dimensional Core EquityPairCorr
  0.92SPLG SPDR Portfolio SPPairCorr
  0.66USD ProShares Ultra SemiPairCorr
  0.77GBTC Grayscale Bitcoin TrustPairCorr
  0.9FNGO MicroSectors FANG IndexPairCorr
  0.63NAIL Direxion Daily Homeb Downward RallyPairCorr
  0.9FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.68GUSH Direxion Daily SPPairCorr
  0.83DUSL Direxion Daily IndusPairCorr
  0.81BA BoeingPairCorr
  0.93AXP American Express Sell-off TrendPairCorr
  0.8DIS Walt DisneyPairCorr
  0.83HPQ HP IncPairCorr
  0.73JPM JPMorgan ChasePairCorr
  0.88BAC Bank of America Sell-off TrendPairCorr
  0.76WMT Walmart Aggressive PushPairCorr
  0.68MSFT MicrosoftPairCorr

Moving against IShares Etf

  0.43KO Coca ColaPairCorr
  0.35T ATT Inc Earnings Call This WeekPairCorr
  0.33MCD McDonaldsPairCorr

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   
IYC
+ 0.97
IWV
IWB
+ 0.93
IWV
IWB
+ 0.93
IYJ
IWB
+ 0.92
IYC
IYJ
+ 0.86
IWV
IYC
+ 0.82
IYJ
  
High negative correlations   
IYK
- 0.48
IYC
IWB
- 0.45
IYK
IYK
- 0.4
IWV
IYK
- 0.34
IYJ

IShares Dow Constituents Risk-Adjusted Indicators

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