Correlation Between IShares Core and Amplify Cybersecurity
Can any of the company-specific risk be diversified away by investing in both IShares Core and Amplify Cybersecurity at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining IShares Core and Amplify Cybersecurity into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between iShares Core SP and Amplify Cybersecurity ETF, you can compare the effects of market volatilities on IShares Core and Amplify Cybersecurity and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in IShares Core with a short position of Amplify Cybersecurity. Check out your portfolio center. Please also check ongoing floating volatility patterns of IShares Core and Amplify Cybersecurity.
Diversification Opportunities for IShares Core and Amplify Cybersecurity
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between IShares and Amplify is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding iShares Core SP and Amplify Cybersecurity ETF in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amplify Cybersecurity ETF and IShares Core is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on iShares Core SP are associated (or correlated) with Amplify Cybersecurity. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amplify Cybersecurity ETF has no effect on the direction of IShares Core i.e., IShares Core and Amplify Cybersecurity go up and down completely randomly.
Pair Corralation between IShares Core and Amplify Cybersecurity
Given the investment horizon of 90 days iShares Core SP is expected to generate 0.59 times more return on investment than Amplify Cybersecurity. However, iShares Core SP is 1.71 times less risky than Amplify Cybersecurity. It trades about 0.12 of its potential returns per unit of risk. Amplify Cybersecurity ETF is currently generating about 0.05 per unit of risk. If you would invest 14,000 in iShares Core SP on August 12, 2025 and sell it today you would earn a total of 762.00 from holding iShares Core SP or generate 5.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
iShares Core SP vs. Amplify Cybersecurity ETF
Performance |
| Timeline |
| iShares Core SP |
| Amplify Cybersecurity ETF |
IShares Core and Amplify Cybersecurity Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IShares Core and Amplify Cybersecurity
The main advantage of trading using opposite IShares Core and Amplify Cybersecurity positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IShares Core position performs unexpectedly, Amplify Cybersecurity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Amplify Cybersecurity will offset losses from the drop in Amplify Cybersecurity's long position.| IShares Core vs. iShares Core SP | IShares Core vs. Vanguard High Dividend | IShares Core vs. Vanguard Primecap Fund | IShares Core vs. Vanguard High Dividend |
| Amplify Cybersecurity vs. iShares Paris Aligned Climate | Amplify Cybersecurity vs. Amplify Junior Silver | Amplify Cybersecurity vs. Main Sector Rotation | Amplify Cybersecurity vs. SPDR SP 500 |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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