IShares Automation Correlations

RBOT Etf

USD 16.72 0.23 1.36%

The current 90-days correlation between iShares Automation and iShares MSCI Korea is -0.21 (i.e., Very good diversification). The correlation of IShares Automation 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 Automation Correlation With Market

Poor diversification

The correlation between iShares Automation Robotics 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 Automation Robotics and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares Automation could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IShares Automation when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back IShares Automation - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling iShares Automation Robotics to buy it.

Moving together with IShares Etf

0.63	IJPE	iShares MSCI Japan	Pair Corr
0.62	GLUG	LG Clean Water	Pair Corr
0.76	SX7EEX	iShares EURO STOXX	Pair Corr
0.69	PSRW	Invesco FTSE RAFI	Pair Corr
0.82	LYLVD	MULTI UNITS LUXEMBOURG	Pair Corr
0.86	ACWIE	UBS MSCI ACWI	Pair Corr
0.73	PEF	Invesco FTSE RAFI	Pair Corr
0.62	TPXY	Amundi Index Solutions	Pair Corr
0.76	BCCMA	UBS Fund Solutions	Pair Corr
0.81	MDAXEX	iShares MDAX UCITS	Pair Corr
0.75	IDP6	iShares SP SmallCap	Pair Corr
0.67	JPSA	JPM USD Ultra	Pair Corr
0.82	ZSILHE	ZKB Silver ETF	Pair Corr
0.67	EUN	iShares STOXX Europe	Pair Corr
0.71	ZGLD	ZKB Gold ETF	Pair Corr
0.73	VWRL	Vanguard FTSE All	Pair Corr
0.62	EMLB	PIMCO Emerging Markets	Pair Corr
0.72	EURCHA	UBSFund Solutions MSCI	Pair Corr
0.61	JPHG	Amundi Index Solutions	Pair Corr
0.61	CSPXJ	iShares VII PLC	Pair Corr

Moving against IShares Etf

0.46

ISPY

LG Cyber Security

Pair Corr

Related Correlations Analysis

	SGWS	IGEA	SEMI	CSUKX	30ID	IASP	IWDC	IUHC	IKOR
SGWS		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SGWS
IGEA	0.0		-0.64	-0.58	-0.23	-0.7	-0.44	-0.33	-0.8	IGEA
SEMI	0.0	-0.64		0.92	0.21	0.9	0.77	0.45	0.62	SEMI
CSUKX	0.0	-0.58	0.92		0.31	0.93	0.66	0.54	0.67	CSUKX
30ID	0.0	-0.23	0.21	0.31		0.42	-0.07	0.13	0.55	30ID
IASP	0.0	-0.7	0.9	0.93	0.42		0.62	0.49	0.77	IASP
IWDC	0.0	-0.44	0.77	0.66	-0.07	0.62		0.43	0.62	IWDC
IUHC	0.0	-0.33	0.45	0.54	0.13	0.49	0.43		0.56	IUHC
IKOR	0.0	-0.8	0.62	0.67	0.55	0.77	0.62	0.56		IKOR
	SGWS	IGEA	SEMI	CSUKX	30ID	IASP	IWDC	IUHC	IKOR

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

IASP	+ 0.93	CSUKX
CSUKX	+ 0.92	SEMI
IASP	+ 0.9	SEMI
IWDC	+ 0.77	SEMI
IKOR	+ 0.77	IASP
IKOR	+ 0.67	CSUKX

High negative correlations

IKOR	- 0.8	IGEA
IASP	- 0.7	IGEA
SEMI	- 0.64	IGEA
CSUKX	- 0.58	IGEA
IWDC	- 0.44	IGEA
IUHC	- 0.33	IGEA

IShares Automation Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Automation 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 Automation'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
SGWS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IGEA	0.28	(0.06)	0.00	1.89	0.00	0.00	0.51	(1.05)	2.04
SEMI	1.48	0.48	0.29	0.90	1.19	(1.80)	4.33	(2.14)	10.21
CSUKX	0.52	0.21	0.30	(6.77)	0.00	(0.61)	1.22	(0.81)	2.71
30ID	0.08	0.00	(0.08)	(0.16)	0.10	(0.20)	0.19	(0.19)	1.32
IASP	0.42	0.10	0.08	(23.22)	0.30	(0.68)	1.28	(0.84)	3.03
IWDC	0.47	(0.02)	0.00	(0.32)	0.00	0.00	0.96	(1.10)	2.31
IUHC	0.61	0.04	0.01	0.19	0.61	(0.73)	1.51	(1.14)	3.95
IKOR	1.90	0.69	0.22	(3.22)	2.05	(2.27)	4.38	(3.26)	14.94

Be your own money manager

Our tools can tell you how much better you can do entering a position in IShares Automation without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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