IShares Breakthrough Correlations

ETEC Etf

USD 25.31 0.15 0.60%

The current 90-days correlation between iShares Breakthrough and iShares Trust is 0.43 (i.e., Very weak diversification). The correlation of IShares Breakthrough 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.

IShares Breakthrough Correlation With Market

Poor diversification

The correlation between iShares Breakthrough Environme and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Breakthrough Environme and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IShares Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in iShares Breakthrough Environmental. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with IShares Etf

0.69	ICLN	iShares Global Clean	Pair Corr
0.82	XT	iShares Exponential	Pair Corr
0.68	TAN	Invesco Solar ETF	Pair Corr
0.8	QCLN	First Trust NASDAQ	Pair Corr
0.8	BOTZ	Global X Robotics	Pair Corr
0.89	DRIV	Global X Autonomous	Pair Corr
0.69	ACES	ALPS Clean Energy	Pair Corr
0.65	HEZU	iShares Currency Hedged	Pair Corr
0.82	VONG	Vanguard Russell 1000	Pair Corr
0.88	XLK	Technology Select Sector Aggressive Push	Pair Corr
0.78	GTR	WisdomTree Target Range	Pair Corr
0.8	QQQM	Invesco NASDAQ 100	Pair Corr
0.73	GUSA	Goldman Sachs MarketBeta	Pair Corr
0.75	JADE	JP Morgan Exchange	Pair Corr
0.71	VOO	Vanguard SP 500	Pair Corr

Moving against IShares Etf

0.41	VXX	iPath Series B	Pair Corr
0.41	VIXY	ProShares VIX Short	Pair Corr
0.36	VIXM	ProShares VIX Mid	Pair Corr
0.35	VXZ	iPath Series B	Pair Corr

Related Correlations Analysis

	IBRN	USNG	FOWF	XVOL	SOLR	ITDJ	DYLG	NVIR	EPMB	TMDV
IBRN		-0.04	-0.17	0.41	0.28	0.72	0.91	0.58	0.76	0.3	IBRN
USNG	-0.04		0.08	0.4	0.34	0.25	0.03	0.49	0.01	-0.1	USNG
FOWF	-0.17	0.08		0.44	0.59	0.38	-0.08	-0.22	0.11	0.15	FOWF
XVOL	0.41	0.4	0.44		0.63	0.84	0.58	0.56	0.64	0.53	XVOL
SOLR	0.28	0.34	0.59	0.63		0.73	0.35	0.11	0.23	-0.02	SOLR
ITDJ	0.72	0.25	0.38	0.84	0.73		0.84	0.56	0.78	0.36	ITDJ
DYLG	0.91	0.03	-0.08	0.58	0.35	0.84		0.68	0.86	0.37	DYLG
NVIR	0.58	0.49	-0.22	0.56	0.11	0.56	0.68		0.6	0.28	NVIR
EPMB	0.76	0.01	0.11	0.64	0.23	0.78	0.86	0.6		0.67	EPMB
TMDV	0.3	-0.1	0.15	0.53	-0.02	0.36	0.37	0.28	0.67		TMDV
	IBRN	USNG	FOWF	XVOL	SOLR	ITDJ	DYLG	NVIR	EPMB	TMDV

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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

DYLG	+ 0.91	IBRN
EPMB	+ 0.86	DYLG
ITDJ	+ 0.84	XVOL
DYLG	+ 0.84	ITDJ
EPMB	+ 0.78	ITDJ
EPMB	+ 0.76	IBRN

High negative correlations

NVIR	- 0.22	FOWF
FOWF	- 0.17	IBRN
TMDV	- 0.1	USNG
DYLG	- 0.08	FOWF
USNG	- 0.04	IBRN
TMDV	- 0.02	SOLR

IShares Breakthrough Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Breakthrough 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 Breakthrough'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
IBRN	1.28	0.28	0.20	0.32	1.21	(1.50)	2.81	(2.04)	6.67
USNG	0.81	(0.06)	(0.07)	(0.01)	1.06	(0.81)	1.52	(1.89)	5.11
FOWF	0.61	(0.02)	(0.05)	0.04	0.77	(0.59)	1.35	(1.36)	3.23
XVOL	0.55	(0.04)	(0.07)	0.02	0.77	(0.50)	1.05	(1.18)	2.96
SOLR	0.90	(0.03)	(0.01)	0.05	1.29	(0.83)	1.57	(2.16)	4.73
ITDJ	0.56	(0.01)	(0.01)	0.06	0.83	(0.51)	1.01	(1.18)	3.16
DYLG	0.39	0.03	0.02	0.12	0.34	(0.44)	0.86	(0.55)	2.20
NVIR	0.84	(0.01)	(0.02)	0.06	1.08	(0.85)	1.54	(1.70)	4.07
EPMB	0.69	0.06	0.06	0.12	0.73	(0.69)	1.91	(1.11)	3.69
TMDV	0.54	(0.03)	(0.09)	0.01	0.67	(0.56)	1.23	(0.92)	3.42

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