IShares Blockchain Correlations

BLKC Etf

15.40 0.26 1.72%

The current 90-days correlation between iShares Blockchain and Amundi Index Solutions is 0.45 (i.e., Very weak 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

Good diversification

The correlation between iShares Blockchain Technology and DJI is -0.18 (i.e., Good 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

0.78	WTCH	SPDR MSCI World	Pair Corr
0.67	WITS	iShares MSCI World	Pair Corr
0.74	SXLK	SSgA SPDR ETFs	Pair Corr
0.65	CNDX	iShares NASDAQ 100	Pair Corr

Related Correlations Analysis

	CT2B	IGAE	WHCS	WPAB	WPAD	UMDV	METL	MTAV	EWSA	GLDU
CT2B		-0.09	0.65	0.7	0.66	-0.61	0.92	-0.04	0.95	0.88	CT2B
IGAE	-0.09		-0.23	0.14	0.11	0.19	-0.31	0.17	-0.19	-0.31	IGAE
WHCS	0.65	-0.23		0.57	0.58	-0.07	0.77	-0.09	0.77	0.78	WHCS
WPAB	0.7	0.14	0.57		0.97	-0.07	0.66	0.46	0.71	0.64	WPAB
WPAD	0.66	0.11	0.58	0.97		-0.02	0.63	0.47	0.69	0.62	WPAD
UMDV	-0.61	0.19	-0.07	-0.07	-0.02		-0.58	0.53	-0.55	-0.52	UMDV
METL	0.92	-0.31	0.77	0.66	0.63	-0.58		-0.11	0.97	0.98	METL
MTAV	-0.04	0.17	-0.09	0.46	0.47	0.53	-0.11		-0.11	-0.09	MTAV
EWSA	0.95	-0.19	0.77	0.71	0.69	-0.55	0.97	-0.11		0.95	EWSA
GLDU	0.88	-0.31	0.78	0.64	0.62	-0.52	0.98	-0.09	0.95		GLDU
	CT2B	IGAE	WHCS	WPAB	WPAD	UMDV	METL	MTAV	EWSA	GLDU

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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

GLDU	+ 0.98	METL
WPAD	+ 0.97	WPAB
EWSA	+ 0.97	METL
EWSA	+ 0.95	CT2B
GLDU	+ 0.95	EWSA
METL	+ 0.92	CT2B

High negative correlations

UMDV	- 0.61	CT2B
METL	- 0.58	UMDV
EWSA	- 0.55	UMDV
GLDU	- 0.52	UMDV
GLDU	- 0.31	IGAE
METL	- 0.31	IGAE

IShares Blockchain Constituents 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
CT2B	0.66	0.10	0.05	0.30	0.71	(0.87)	1.79	(1.40)	5.39
IGAE	0.10	(0.01)	(0.23)	(0.15)	0.15	(0.32)	0.20	(0.41)	1.23
WHCS	0.58	0.07	0.04	0.22	0.49	(0.74)	1.72	(0.90)	4.18
WPAB	0.51	(0.01)	(0.08)	0.06	0.56	(0.62)	1.05	(1.03)	3.05
WPAD	0.58	(0.02)	(0.07)	0.05	0.73	(0.62)	1.24	(1.25)	3.65
UMDV	0.77	(0.07)	0.00	(0.09)	0.00	0.00	1.75	(1.53)	4.68
METL	1.74	0.52	0.19	0.53	1.99	(1.90)	3.90	(2.75)	11.48
MTAV	0.84	(0.14)	0.00	(0.11)	0.00	0.00	1.82	(2.30)	6.20
EWSA	0.66	0.15	0.15	0.35	0.47	(0.78)	1.65	(1.01)	3.80
GLDU	2.22	0.52	0.19	0.48	2.36	(2.45)	5.69	(4.08)	14.58

Be your own money manager

Our tools can tell you how much better you can do entering a position in IShares Blockchain 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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