IShares Blockchain Correlations

BLKC Etf

15.65 0.37 2.31%

The current 90-days correlation between iShares Blockchain and iShares Smart City is 0.62 (i.e., Poor diversification). The correlation of IShares Blockchain 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 Blockchain Correlation With Market

Modest diversification

The correlation between iShares Blockchain Technology and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Blockchain Technology and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares Blockchain 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 Blockchain 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 Blockchain - 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 Blockchain Technology to buy it.

Moving together with IShares Etf

0.73	IAEA	iShares AEX UCITS	Pair Corr
0.68	SXLU	SSgA SPDR ETFs	Pair Corr

Moving against IShares Etf

0.91	EUNA	iShares STOXX Europe	Pair Corr
0.75	WHCA	iShares MSCI World	Pair Corr
0.74	IDVY	iShares Euro Dividend	Pair Corr
0.73	CNYB	iShares China CNY	Pair Corr
0.66	CYBU	iShares China CNY	Pair Corr
0.62	SJPE	iShares Core MSCI	Pair Corr
0.6	IAPD	iShares Asia Pacific	Pair Corr
0.6	WQDA	iShares MSCI World	Pair Corr
0.56	GLDU	Amundi Index Solutions	Pair Corr
0.56	SLXU	iShares Core Corp	Pair Corr
0.55	DIA	SPDR Dow Jones	Pair Corr
0.45	UEDV	SPDR SP Dividend	Pair Corr
0.45	MODU	iShares Moderate Por	Pair Corr
0.42	ASIG	iShares Asia Investment	Pair Corr
0.39	IMEU	iShares Core MSCI	Pair Corr
0.74	IDVA	iShares EURO STOXX	Pair Corr
0.73	U13C	Lyxor Treasury 1	Pair Corr
0.7	SBIO	Invesco NASDAQ Biotech	Pair Corr
0.65	VHYL	Vanguard FTSE All	Pair Corr
0.62	BNKT	iShares V PLC	Pair Corr
0.6	GEDV	SPDR SP Global	Pair Corr
0.59	BATT	Legal General UCITS	Pair Corr
0.56	CALF	Pacer Small Cap	Pair Corr
0.53	FXGD	FinEx Physically Gold	Pair Corr
0.5	PHAU	WisdomTree Physical Gold	Pair Corr
0.48	WFNS	iShares MSCI World	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.67	0.49	-0.57	0.45	-0.48	0.23	-0.19	-0.48	-0.58	META
MSFT	0.67		0.84	-0.54	0.4	-0.16	0.01	-0.36	-0.79	-0.62	MSFT
UBER	0.49	0.84		-0.59	0.55	-0.11	-0.23	-0.39	-0.86	-0.63	UBER
F	-0.57	-0.54	-0.59		-0.66	0.38	0.33	0.49	0.65	0.76	F
T	0.45	0.4	0.55	-0.66		-0.28	-0.57	-0.34	-0.46	-0.51	T
A	-0.48	-0.16	-0.11	0.38	-0.28		-0.3	-0.3	0.24	0.12	A
CRM	0.23	0.01	-0.23	0.33	-0.57	-0.3		0.47	0.18	0.27	CRM
JPM	-0.19	-0.36	-0.39	0.49	-0.34	-0.3	0.47		0.47	0.5	JPM
MRK	-0.48	-0.79	-0.86	0.65	-0.46	0.24	0.18	0.47		0.71	MRK
XOM	-0.58	-0.62	-0.63	0.76	-0.51	0.12	0.27	0.5	0.71		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.84	MSFT
XOM	+ 0.76	F
XOM	+ 0.71	MRK
MSFT	+ 0.67	META
MRK	+ 0.65	F
T	+ 0.55	UBER

High negative correlations

MRK	- 0.86	UBER
MRK	- 0.79	MSFT
T	- 0.66	F
XOM	- 0.63	UBER
XOM	- 0.62	MSFT
F	- 0.59	UBER

IShares Blockchain Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Blockchain 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 Blockchain'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
META	1.38	(0.21)	0.00	(0.16)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.88	(0.11)	0.00	(0.12)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.47	(0.33)	0.00	(0.25)	0.00	0.00	2.60	(3.82)	10.51
F	1.46	0.09	0.06	0.13	1.68	(1.60)	3.38	(2.63)	16.30
T	0.96	(0.20)	0.00	(0.72)	0.00	0.00	1.61	(2.18)	5.75
A	1.19	0.11	0.08	0.16	1.20	(1.33)	2.34	(2.21)	11.03
CRM	1.50	0.09	0.04	0.15	1.90	(1.49)	3.66	(2.92)	9.91
JPM	1.06	(0.03)	(0.01)	0.03	1.42	(1.11)	2.00	(1.91)	7.02
MRK	1.41	0.43	0.32	0.58	0.96	(1.81)	4.85	(1.98)	11.45
XOM	0.92	0.05	0.00	0.28	0.98	(0.99)	1.96	(1.51)	4.99

IShares Blockchain Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with IShares Blockchain etf to make a market-neutral strategy. Peer analysis of IShares Blockchain could also be used in its relative valuation, which is a method of valuing IShares Blockchain by comparing valuation metrics with similar companies.

iShares Smart City iShares JP Morgan iShares MSCI World iShares MSCI World iShares MSCI World iShares Medical Devices iShares Essential Metals iShares Metaverse UCITS iShares MSCI World Amundi Index Solutions American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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