IShares Semiconductor Correlations

SOXX Etf

USD 198.37 5.82 2.85%

The current 90-days correlation between iShares Semiconductor ETF and VanEck Semiconductor ETF is 0.98 (i.e., Almost no diversification). The correlation of IShares Semiconductor 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 Semiconductor Correlation With Market

Very weak diversification

The correlation between iShares Semiconductor ETF and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Semiconductor ETF and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in iShares Semiconductor 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 interest.

Moving together with IShares Etf

0.94	VGT	Vanguard Information	Pair Corr
0.94	XLK	Technology Select Sector	Pair Corr
0.93	IYW	iShares Technology ETF	Pair Corr
0.99	SMH	VanEck Semiconductor ETF	Pair Corr
0.94	FTEC	Fidelity MSCI Information	Pair Corr
0.81	IGV	iShares Expanded Tech Low Volatility	Pair Corr
0.75	FDN	First Trust Dow	Pair Corr
0.91	IGM	iShares Expanded Tech	Pair Corr
0.86	VTI	Vanguard Total Stock	Pair Corr
0.82	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.89	VBK	Vanguard Small Cap	Pair Corr
0.68	CAT	Caterpillar	Pair Corr
0.83	AXP	American Express	Pair Corr
0.74	BAC	Bank of America Aggressive Push	Pair Corr
0.61	BA	Boeing	Pair Corr
0.85	HPQ	HP Inc	Pair Corr

Moving against IShares Etf

0.86	FNGD	MicroSectors FANG Index	Pair Corr
0.67	JPST	JPMorgan Ultra Short	Pair Corr
0.48	GDXU	MicroSectors Gold Miners	Pair Corr
0.37	EEM	iShares MSCI Emerging	Pair Corr
0.77	TRV	The Travelers Companies	Pair Corr
0.76	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.68	JNJ	Johnson Johnson	Pair Corr
0.63	PG	Procter Gamble	Pair Corr
0.62	T	ATT Inc Aggressive Push	Pair Corr
0.59	MCD	McDonalds	Pair Corr
0.32	MMM	3M Company	Pair Corr
0.32	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr

Related Correlations Analysis

	SMH	SOXL	LIT	IGV	XSD
SMH		0.98	0.5	0.81	0.94	SMH
SOXL	0.98		0.52	0.79	0.98	SOXL
LIT	0.5	0.52		0.46	0.45	LIT
IGV	0.81	0.79	0.46		0.77	IGV
XSD	0.94	0.98	0.45	0.77		XSD
	SMH	SOXL	LIT	IGV	XSD

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IShares Semiconductor Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Semiconductor 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 Semiconductor'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
SMH	1.79	(0.11)	(0.08)	2.94	(4.19)	13.15
SOXL	4.96	(0.42)	(0.10)	8.71	(12.39)	32.20
LIT	1.04	(0.10)	(0.21)	1.91	(2.12)	5.44
IGV	1.39	(0.14)	(0.10)	2.12	(3.41)	7.87
XSD	1.95	(0.21)	(0.13)	3.34	(4.44)	11.81

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