IShares Electric Correlations

ECAR Etf

8.73 0.09 1.02%

The current 90-days correlation between iShares Electric Vehicles and iShares Copper Miners is 0.08 (i.e., Significant diversification). The correlation of IShares Electric 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 Electric Correlation With Market

Very poor diversification

The correlation between iShares Electric Vehicles and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Electric Vehicles and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares Electric 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 Electric 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 Electric - 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 Electric Vehicles to buy it.

Moving together with IShares Etf

0.97	ROBO	Legal General UCITS	Pair Corr
0.9	AUCO	LG Gold Mining	Pair Corr
0.63	SEMI	iShares MSCI Global	Pair Corr
0.87	PHAU	WisdomTree Physical Gold	Pair Corr
0.92	IKRA	iShares Public	Pair Corr
0.77	PHPT	WisdomTree Physical	Pair Corr
0.88	INRA	iShares Global Clean	Pair Corr
0.91	VAPX	Vanguard FTSE Developed	Pair Corr
0.79	IEAC	iShares Core Corp	Pair Corr
0.79	VECP	Vanguard EUR Corporate	Pair Corr
0.9	IJPE	iShares MSCI Japan	Pair Corr
0.75	CBE7	iShares VII Public	Pair Corr
0.89	CNYB	iShares China CNY	Pair Corr
0.93	CEMU	iShares VII plc	Pair Corr
0.87	IWDE	iShares MSCI World	Pair Corr
0.92	SAWI	iShares MSCI ACWI	Pair Corr
0.84	EXXY	iShares Diversified	Pair Corr
0.91	COWZ	Pacer Us Cash	Pair Corr
0.79	IWDP	iShares Developed Markets	Pair Corr
0.83	EHYD	iShares II plc	Pair Corr
0.91	MAGU	BlackRock ESG Multi	Pair Corr
0.94	CITY	Ishares IV PLC	Pair Corr
0.62	GEDV	SPDR SP Global	Pair Corr
0.78	UE24	UBSFund Solutions MSCI	Pair Corr
0.84	GCOW	Pacer Global Cash	Pair Corr
0.83	DFEU	iShares Europe Defence	Pair Corr
0.74	GOVA	SPDR Bloomberg Euro	Pair Corr

Moving against IShares Etf

0.74	ISPY	LG Cyber Security	Pair Corr
0.49	3AMZ	Leverage Shares 3x	Pair Corr
0.45	WTCH	SPDR MSCI World	Pair Corr
0.37	BLKC	iShares Blockchain	Pair Corr

Related Correlations Analysis

	CITY	GEDV	H2OA	GOVA	ERND	COPM
CITY		0.73	0.55	0.79	0.58	0.93	CITY
GEDV	0.73		0.52	0.67	0.5	0.69	GEDV
H2OA	0.55	0.52		0.86	0.07	0.47	H2OA
GOVA	0.79	0.67	0.86		0.3	0.7	GOVA
ERND	0.58	0.5	0.07	0.3		0.72	ERND
COPM	0.93	0.69	0.47	0.7	0.72		COPM
	CITY	GEDV	H2OA	GOVA	ERND	COPM

IShares Electric Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Electric 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 Electric'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
CITY	0.66	0.16	0.13	0.38	0.60	(0.75)	1.56	(1.41)	3.96
GEDV	0.15	0.00	(0.14)	0.00	0.00	(0.48)	0.60	(0.38)	1.95
H2OA	0.58	0.10	0.02	(1.06)	0.49	(0.68)	1.39	(0.97)	3.16
GOVA	0.13	0.01	(0.28)	(1.67)	0.09	(0.15)	0.35	(0.23)	1.23
ERND	0.07	0.03	0.00	(0.69)	0.00	0.00	0.00	0.00	2.25
COPM	2.01	0.67	0.25	11.35	2.06	(2.32)	4.82	(3.37)	12.22

Be your own money manager

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