IShares High Correlations

Etfs Switzerland . 
Etf . iShares High Yield
HIHC Etf  CHF 5.49  0.04  0.72%   
The current 90-days correlation between iShares High Yield and iShares JP Morgan 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

Significant diversification

The correlation between iShares High Yield and DJI is 0.08 (i.e., Significant 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

  0.77JPNJPA UBSFund Solutions MSCIPairCorr
  0.76VUSA Vanguard SP 500PairCorr
  0.71CSNKY iShares VII PLCPairCorr
  0.84CSSPX iShares Core SPPairCorr
  0.78EIMI iShares Core MSCIPairCorr
  0.85IUSA iShares SP 500PairCorr
  0.81MSE Amundi EURO STOXXPairCorr
  0.63CSGLDC iShares Gold CHFPairCorr
  0.83SMHV VanEck SemiconductorPairCorr
  0.82STKX SPDR MSCI EuropePairCorr
  0.82SX5E Invesco EURO STOXXPairCorr
  0.76XD5E Xtrackers MSCI EMUPairCorr
  0.87EMUC iShares VII PLCPairCorr
  0.61XLES Invesco Energy SPPairCorr
  0.74GDIG VanEck Global MiningPairCorr
  0.67OIH VanEck Oil ServicesPairCorr
  0.81VJPN Vanguard FTSE JapanPairCorr
  0.73DAXD Lyxor DAX UCITSPairCorr
  0.78CANCDA UBSFund Solutions MSCIPairCorr
  0.62GGMUSY-USD UBSETF Gold MinersPairCorr
  0.8DHYC iShares High YieldPairCorr
  0.71CSEMAS iShares VII PLCPairCorr
  0.84FWRA Invesco FTSE AllPairCorr
  0.86500USD Amundi Index SolutionsPairCorr
  0.84DHYE iShares High YieldPairCorr
  0.82JREE JPMorgan ETFs ICAVPairCorr
  0.74EMLOCA UBSFund SolutionsPairCorr
  0.65GDX VanEck Gold MinersPairCorr
  0.82IAT1 Invesco AT1 CapitalPairCorr
  0.74CHSPI iShares Core SPIPairCorr
  0.83IUSC iShares SP 500PairCorr
  0.85PSRW Invesco FTSE RAFIPairCorr

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

UBER
+ 0.8
MSFT
XOM
+ 0.78
MRK
MRK
+ 0.7
F
XOM
+ 0.69
F
JPM
+ 0.66
F
MSFT
+ 0.61
META
  

High negative correlations

MRK
- 0.84
MSFT
MRK
- 0.81
UBER
XOM
- 0.72
MSFT
T
- 0.69
F
XOM
- 0.65
T
JPM
- 0.55
T

IShares High Competition 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
META  1.34 (0.31) 0.00 (0.25) 0.00 
 0.00 
 2.30 
(2.67)
 13.46 
MSFT  0.96 (0.21) 0.00 (0.41) 0.00 
 0.00 
 1.65 
(2.50)
 4.90 
UBER  1.47 (0.23) 0.00 (0.20) 0.00 
 0.00 
 2.60 
(3.82)
 10.23 
F  1.44  0.12  0.10  0.15  1.33 
(1.75)
 3.38 
(2.35)
 16.30 
T  0.89 (0.17) 0.00 (0.46) 0.00 
 0.00 
 1.53 
(1.85)
 4.30 
A  1.16 (0.12) 0.00 (0.03) 0.00 
 0.00 
 2.34 
(2.24)
 7.85 
CRM  1.59 (0.16) 0.00 (0.08) 0.00 
 0.00 
 3.66 
(3.10)
 12.37 
JPM  1.16 (0.10)(0.04) 0.00  1.73 
(1.13)
 2.00 
(3.11)
 7.38 
MRK  1.22  0.37  0.27  0.53  1.01 
(1.52)
 3.59 
(1.98)
 8.09 
XOM  1.06  0.24  0.15  4.24  0.98 
(1.21)
 2.37 
(1.51)
 5.82 

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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