IShares High Correlations

EHYC Etf

5.23 0.01 0.19%

The current 90-days correlation between iShares High Yield and Vanguard FTSE Developed is 0.4 (i.e., Very weak 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 0.81 (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

0.83	SX7EEX	iShares EURO STOXX	Pair Corr
0.87	SX7PEX	iShares STOXX Europe	Pair Corr
0.89	X7PS	Invesco STOXX Europe	Pair Corr
0.82	AUCO	LG Gold Mining	Pair Corr
0.8	GGMUSY	UBS ETF plc	Pair Corr
0.83	MAGB	Market Access NYSE	Pair Corr
0.82	GDX	VanEck Gold Miners	Pair Corr
0.82	IAUP	iShares Gold Producers	Pair Corr
0.83	HMXJ	HSBC MSCI Pacific	Pair Corr
0.82	ZSILHC	ZKB Silver ETF	Pair Corr
0.9	VUKE	Vanguard FTSE 100	Pair Corr
0.82	USEUWH	UBS ETF plc	Pair Corr
0.73	IUSE	iShares SP 500	Pair Corr
0.81	JPNY	Amundi Index Solutions	Pair Corr
0.79	IJPN	iShares MSCI Japan	Pair Corr
0.84	SXLI	SPDR SP Industrials	Pair Corr
0.83	TBIL	SPDR Bloomberg 1	Pair Corr
0.8	SJPA	iShares Core MSCI	Pair Corr
0.91	WOPA	UBS ETF plc	Pair Corr
0.72	HMEU	HSBC MSCI Europe	Pair Corr
0.75	HPAW	HSBC MSCI WORLD	Pair Corr
0.88	IEEM	iShares MSCI EM	Pair Corr
0.79	SMICHA	UBS ETF SMI	Pair Corr
0.76	VJPN	Vanguard FTSE Japan	Pair Corr
0.88	WRDUSW-USD	UBSETF MSCIWLD USDa	Pair Corr
0.94	C50	Amundi Index Solutions	Pair Corr
0.82	SW2CHB	UBSFund Solutions MSCI	Pair Corr
0.89	LCEU	BNP Paribas Easy	Pair Corr
0.83	ZGLDEU	ZKB Gold ETF	Pair Corr
0.82	AFLT	Amundi Index Solutions	Pair Corr
0.85	XLIS	Invesco Industrials	Pair Corr
0.91	LYMEU	Lyxor MSCI Europe	Pair Corr
0.88	SMHV	VanEck Semiconductor	Pair Corr

Moving against IShares Etf

0.51	LQDH	iShares Corp Bond	Pair Corr
0.45	IRCP	iShares Corp Bond	Pair Corr
0.33	ABNB	21Shares Binance BNB	Pair Corr

Related Correlations Analysis

	LQDH	ZSIL	US3	IEEM	IAUP	TBIL	JPNUKD	VEVE
LQDH		-0.4	-0.48	-0.69	-0.5	-0.64	-0.61	0.1	LQDH
ZSIL	-0.4		0.25	0.78	0.94	0.82	0.69	0.63	ZSIL
US3	-0.48	0.25		0.49	0.44	0.6	0.6	0.14	US3
IEEM	-0.69	0.78	0.49		0.86	0.89	0.91	0.48	IEEM
IAUP	-0.5	0.94	0.44	0.86		0.92	0.84	0.6	IAUP
TBIL	-0.64	0.82	0.6	0.89	0.92		0.92	0.53	TBIL
JPNUKD	-0.61	0.69	0.6	0.91	0.84	0.92		0.54	JPNUKD
VEVE	0.1	0.63	0.14	0.48	0.6	0.53	0.54		VEVE
	LQDH	ZSIL	US3	IEEM	IAUP	TBIL	JPNUKD	VEVE

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

IAUP	+ 0.94	ZSIL
TBIL	+ 0.92	IAUP
JPNUKD	+ 0.92	TBIL
JPNUKD	+ 0.91	IEEM
TBIL	+ 0.89	IEEM
IAUP	+ 0.86	IEEM

High negative correlations

IEEM	- 0.69	LQDH
TBIL	- 0.64	LQDH
JPNUKD	- 0.61	LQDH
IAUP	- 0.5	LQDH
US3	- 0.48	LQDH
ZSIL	- 0.4	LQDH

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
LQDH	0.51	(0.07)	0.00	(0.36)	0.00	0.00	1.27	(1.38)	4.00
ZSIL	3.36	0.68	0.12	0.80	5.04	(3.54)	6.80	(8.00)	26.58
US3	0.13	0.01	(0.33)	(2.92)	0.00	(0.15)	0.41	(0.22)	0.74
IEEM	0.75	0.16	0.13	0.72	0.65	(0.82)	1.53	(1.44)	4.86
IAUP	2.09	0.49	0.15	1.48	2.76	(2.20)	4.52	(3.91)	14.82
TBIL	0.03	0.01	(1.40)	0.70	0.00	(0.04)	0.08	(0.04)	0.20
JPNUKD	0.78	0.21	0.14	1.98	0.71	(0.94)	2.29	(1.70)	5.25
VEVE	0.69	(0.03)	(0.07)	(0.01)	0.93	(0.68)	1.58	(1.48)	4.06

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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