IShares High Correlations

Etfs . Netherlands . 
Etf . iShares High Yield
EHYA Etf  EUR 5.88  0.01  0.17%   
The current 90-days correlation between iShares High Yield and WisdomTree Physical Silver is 0.1 (i.e., Average diversification). The correlation of IShares High 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 High Correlation With Market

Very poor diversification

The correlation between iShares High Yield and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares High Yield and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to IShares High 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 High 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 High - 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 High Yield to buy it.

Moving together with IShares Etf

  0.98EHYD iShares II plcPairCorr
  0.87AUCO LG Gold MiningPairCorr
  0.72SXLE SSgA SPDR ETFsPairCorr
  0.83PHAG WisdomTree PhysicalPairCorr
  0.71WENS iShares MSCI WorldPairCorr
  0.86PHAU WisdomTree Physical GoldPairCorr
  0.65WNRG SPDR MSCI WorldPairCorr
  0.88TDIV VanEck MorningstarPairCorr
  0.85IJPE iShares MSCI JapanPairCorr
  0.85SJPE iShares Core MSCIPairCorr
  0.77UIM5 UBSFund Solutions MSCIPairCorr
  0.93IWDE iShares MSCI WorldPairCorr
  0.75IASP iShares Asia PropertyPairCorr
  0.94IEGE iShares III PublicPairCorr
  0.94EWSA iShares MSCI WorldPairCorr
  0.93IDVY iShares Euro DividendPairCorr
  0.65WPAD iShares MSCI WorldPairCorr
  0.75FXEU First Trust FactorFXPairCorr
  0.95EPAD iShares MSCI EuropePairCorr
  0.81SJPD iShares Core MSCIPairCorr
  0.88IAEA iShares AEX UCITSPairCorr
  0.63DIA SPDR Dow JonesPairCorr
  0.9VHYL Vanguard FTSE AllPairCorr
  0.78IX5A iShares Corp BondPairCorr
  0.88IAEX iShares AEX UCITSPairCorr
  0.66SXLP SSgA SPDR ETFsPairCorr
  0.97DJSC iShares EURO STOXXPairCorr
  0.68WCSS iShares MSCI WorldPairCorr
  0.61CBE7 iShares VII PublicPairCorr
  0.93EXA1 iShares EURO STOXXPairCorr
  0.78JPSR UBSFund Solutions MSCIPairCorr
  0.93IDVA iShares EURO STOXXPairCorr
  0.83LTAM iShares MSCI EMPairCorr
  0.66IBGX iShares Euro GovernmentPairCorr
  0.95DJMC iShares EURO STOXXPairCorr
  0.78CSJP iShares VII PLCPairCorr
  0.63SUOU iShares Corp BondPairCorr

Related Correlations Analysis


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

VERX
+ 0.97
EHYD
VERX
+ 0.93
TDIV
VERX
+ 0.91
ISED
TDIV
+ 0.89
EHYD
VERX
+ 0.89
VFEM
ISED
+ 0.87
EHYD
  

High negative correlations

PHAG
- 0.46
IGLE
IGLE
- 0.33
ISED
IGLE
- 0.32
EHYD
VERX
- 0.28
IGLE
TDIV
- 0.22
DHYE
IGLE
- 0.16
VFEM

IShares High Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares High 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 High'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
EHYD  0.09  0.00 (0.25) 0.88  0.00 
(0.22)
 0.22 
(0.22)
 0.44 
IMBE  0.16  0.02 (0.13) 1.76  0.09 
(0.23)
 0.22 
(0.43)
 0.87 
ISED  0.49  0.06 (0.01)(0.67) 0.63 
(0.57)
 1.19 
(0.91)
 3.83 
DHYE  0.27 (0.01) 0.00  0.12  0.00 
 0.00 
 0.55 
(0.72)
 1.80 
TDIV  0.41  0.16  0.18 (13.56) 0.19 
(0.49)
 1.04 
(0.88)
 2.69 
VFEM  0.58  0.05 (0.02)(0.51) 0.63 
(0.62)
 1.13 
(1.11)
 3.06 
IGLE  0.14 (0.01)(0.22)(0.43) 0.16 
(0.30)
 0.25 
(0.25)
 1.01 
VERX  0.46  0.07  0.03  1.14  0.47 
(0.55)
 1.02 
(0.93)
 2.44 
IUHE  0.61  0.04 (0.02) 0.77  0.63 
(0.70)
 1.40 
(1.14)
 3.81 
PHAG  3.55  0.60  0.10  1.00  5.17 
(3.78)
 7.69 
(7.54)
 27.94 

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