IShares High Correlations

EHYA Etf

EUR 5.88 0.01 0.17%

The current 90-days correlation between iShares High Yield and iShares MSCI Korea is 0.15 (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 0.8 (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

0.75	JPNJPA	UBSFund Solutions MSCI	Pair Corr
0.77	CSNKY	iShares VII PLC	Pair Corr
0.74	CSSPX	iShares Core SP	Pair Corr
0.86	EIMI	iShares Core MSCI	Pair Corr
0.74	IUSA	iShares SP 500	Pair Corr
0.9	MSE	Amundi EURO STOXX	Pair Corr
0.91	ACWIE	UBS MSCI ACWI	Pair Corr
0.82	HYLC	iShares Global High	Pair Corr
0.76	UT1US	UBSFund Solutions	Pair Corr
0.69	AUHEUA	UBS ETF plc	Pair Corr
0.91	AGED	iShares Ageing Population	Pair Corr
0.83	SPICHA	UBS ETF SPI	Pair Corr
0.79	MDAXEX	iShares MDAX UCITS	Pair Corr
0.76	ZSILEU	ZKB Silver ETF	Pair Corr
0.9	WRDUSW-USD	UBSETF MSCIWLD USDa	Pair Corr
0.69	LYWLD	Lyxor MSCI World	Pair Corr
0.84	AWSRIS	UBS ETF plc	Pair Corr
0.71	CTEK	Global X CleanTech	Pair Corr
0.85	USFMA	UBS ETF plc	Pair Corr
0.91	EHYC	iShares High Yield	Pair Corr
0.77	EMHD	Invesco FTSE Emerging	Pair Corr
0.76	CBUS5A	UBSFund Solutions	Pair Corr
0.71	XESX	Xtrackers Euro Stoxx	Pair Corr
0.83	BCCMA	UBS Fund Solutions	Pair Corr
0.83	RGLDS	Raiffeisen ETF Solid	Pair Corr
0.91	EMUUSD	UBSFund Solutions MSCI	Pair Corr
0.86	XGSD	Xtrackers Stoxx Global	Pair Corr

Moving against IShares Etf

0.46	IEAC	iShares Core Corp	Pair Corr
0.4	JNKE	SPDR Bloomberg Euro	Pair Corr
0.32	IHYG	iShares High Yield	Pair Corr
0.31	LYYIEL	Amundi EUR High	Pair Corr

Related Correlations Analysis

	SGWS	IGEA	SEMI	CSUKX	30ID	IASP	IWDC	IUHC	IKOR
SGWS		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SGWS
IGEA	0.0		-0.85	-0.79	-0.1	-0.83	-0.58	-0.27	-0.85	IGEA
SEMI	0.0	-0.85		0.93	0.19	0.9	0.85	0.46	0.95	SEMI
CSUKX	0.0	-0.79	0.93		0.27	0.94	0.77	0.54	0.96	CSUKX
30ID	0.0	-0.1	0.19	0.27		0.4	0.04	0.1	0.33	30ID
IASP	0.0	-0.83	0.9	0.94	0.4		0.67	0.49	0.96	IASP
IWDC	0.0	-0.58	0.85	0.77	0.04	0.67		0.49	0.72	IWDC
IUHC	0.0	-0.27	0.46	0.54	0.1	0.49	0.49		0.47	IUHC
IKOR	0.0	-0.85	0.95	0.96	0.33	0.96	0.72	0.47		IKOR
	SGWS	IGEA	SEMI	CSUKX	30ID	IASP	IWDC	IUHC	IKOR

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

IKOR	+ 0.96	CSUKX
IKOR	+ 0.96	IASP
IKOR	+ 0.95	SEMI
IASP	+ 0.94	CSUKX
CSUKX	+ 0.93	SEMI
IASP	+ 0.9	SEMI

High negative correlations

IKOR	- 0.85	IGEA
SEMI	- 0.85	IGEA
IASP	- 0.83	IGEA
CSUKX	- 0.79	IGEA
IWDC	- 0.58	IGEA
IUHC	- 0.27	IGEA

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SGWS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IGEA	0.26	(0.06)	0.00	2.66	0.00	0.00	0.51	(0.87)	2.04
SEMI	1.56	0.41	0.17	6.42	1.71	(1.80)	4.33	(2.35)	10.21
CSUKX	0.51	0.19	0.21	1.67	0.00	(0.60)	1.22	(0.81)	2.71
30ID	0.08	0.00	(0.18)	0.04	0.10	(0.20)	0.19	(0.19)	1.32
IASP	0.40	0.10	0.07	0.59	0.00	(0.68)	1.28	(0.72)	3.03
IWDC	0.46	0.05	(0.04)	0.44	0.47	(0.50)	0.97	(1.03)	2.73
IUHC	0.63	0.05	(0.03)	1.10	0.60	(0.75)	1.51	(1.14)	3.95
IKOR	1.73	0.80	0.31	(3.45)	1.47	(2.16)	4.30	(2.47)	14.94

Be your own money manager

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