IShares Basic Correlations

IYM Etf

USD 155.48 0.12 0.08%

The current 90-days correlation between iShares Basic Materials and iShares Telecommunications ETF is 0.54 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Basic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Basic Materials moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Basic Correlation With Market

Significant diversification

The correlation between iShares Basic Materials and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Basic Materials and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IShares Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iShares Basic Materials. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in private.

Moving together with IShares Etf

0.88	XLB	Materials Select Sector Aggressive Push	Pair Corr
0.97	VAW	Vanguard Materials Index	Pair Corr
0.7	XME	SPDR SP Metals	Pair Corr
0.89	MOO	VanEck Agribusiness ETF	Pair Corr
0.87	FXZ	First Trust Materials	Pair Corr
0.7	TJUL	Innovator Etfs Trust	Pair Corr
0.76	EASG	Xtrackers MSCI EAFE	Pair Corr
0.64	ITDJ	iShares Trust	Pair Corr
0.8	SIXS	6 Meridian Small	Pair Corr
0.63	DFAX	Dimensional World	Pair Corr
0.76	CPER	United States Copper	Pair Corr
0.78	AVUV	Avantis Small Cap	Pair Corr
0.69	HYSD	Columbia ETF Trust	Pair Corr
0.68	SGOL	abrdn Physical Gold	Pair Corr
0.69	HEZU	iShares Currency Hedged	Pair Corr
0.78	FLCV	Federated Hermes ETF	Pair Corr
0.62	SLX	VanEck Steel ETF	Pair Corr

Moving against IShares Etf

0.35

USD

ProShares Ultra Semi

Pair Corr

Related Correlations Analysis

	IYZ	INDY	IYT	IGE	IAT	IHE	REM	QLC	FDRR	IXG
IYZ		-0.13	0.72	0.65	0.74	0.39	0.67	0.6	0.61	0.73	IYZ
INDY	-0.13		-0.14	-0.06	-0.19	0.26	0.09	0.27	0.21	-0.1	INDY
IYT	0.72	-0.14		0.78	0.89	0.65	0.72	0.84	0.86	0.88	IYT
IGE	0.65	-0.06	0.78		0.82	0.79	0.8	0.7	0.73	0.76	IGE
IAT	0.74	-0.19	0.89	0.82		0.75	0.78	0.76	0.79	0.94	IAT
IHE	0.39	0.26	0.65	0.79	0.75		0.74	0.74	0.75	0.69	IHE
REM	0.67	0.09	0.72	0.8	0.78	0.74		0.72	0.74	0.7	REM
QLC	0.6	0.27	0.84	0.7	0.76	0.74	0.72		0.98	0.8	QLC
FDRR	0.61	0.21	0.86	0.73	0.79	0.75	0.74	0.98		0.8	FDRR
IXG	0.73	-0.1	0.88	0.76	0.94	0.69	0.7	0.8	0.8		IXG
	IYZ	INDY	IYT	IGE	IAT	IHE	REM	QLC	FDRR	IXG

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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

FDRR	+ 0.98	QLC
IXG	+ 0.94	IAT
IAT	+ 0.89	IYT
IXG	+ 0.88	IYT
FDRR	+ 0.86	IYT
QLC	+ 0.84	IYT

High negative correlations

IAT	- 0.19	INDY
IYT	- 0.14	INDY
INDY	- 0.13	IYZ
IXG	- 0.1	INDY
IGE	- 0.06	INDY

IShares Basic Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Basic 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 Basic'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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
IYZ	0.80	0.07	0.00	0.88	1.08	(0.81)	1.76	(1.57)	4.81
INDY	0.52	0.03	(0.05)	0.29	0.54	(0.54)	1.17	(0.88)	3.29
IYT	0.83	0.00	0.01	0.08	1.09	(0.79)	1.48	(1.71)	4.67
IGE	0.83	0.00	(0.03)	0.07	1.07	(0.84)	1.51	(1.86)	4.36
IAT	0.96	0.04	0.04	0.11	1.40	(0.98)	2.42	(2.15)	7.39
IHE	0.75	0.18	0.19	0.38	0.45	(0.84)	1.76	(1.17)	4.45
REM	0.73	0.06	(0.03)	(0.34)	0.82	(0.75)	1.38	(1.22)	3.74
QLC	0.59	0.07	0.00	1.92	0.82	(0.60)	1.21	(1.10)	3.48
FDRR	0.53	0.00	(0.02)	0.07	0.64	(0.57)	1.24	(1.05)	2.70
IXG	0.57	0.02	0.01	0.10	0.67	(0.61)	1.21	(1.34)	3.09

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