IShares Convertible Correlations

ICVT Etf

USD 88.03 0.62 0.71%

The current 90-days correlation between iShares Convertible Bond and BondBloxx ETF Trust is 0.18 (i.e., Average diversification). The correlation of IShares Convertible 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 Convertible Correlation With Market

Average diversification

The correlation between iShares Convertible Bond and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Convertible Bond and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iShares Convertible Bond. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with IShares Etf

0.64	FCVT	First Trust SSI	Pair Corr
0.97	QCON	American Century Quality	Pair Corr
0.63	WTMF	WisdomTree Managed	Pair Corr
0.69	RFDA	RiverFront Dynamic	Pair Corr
0.83	BAC	Bank of America Sell-off Trend	Pair Corr
0.73	IBM	International Business Upward Rally	Pair Corr
0.73	WMT	Walmart Aggressive Push	Pair Corr
0.78	HD	Home Depot	Pair Corr

Moving against IShares Etf

0.64

PFE

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Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.62	-0.43	-0.44	0.58	0.51	0.5	0.62	-0.15	-0.63	META
MSFT	0.62		-0.46	-0.22	0.48	0.27	0.6	0.3	-0.01	-0.46	MSFT
UBER	-0.43	-0.46		0.5	-0.3	0.28	-0.71	-0.25	0.31	0.78	UBER
F	-0.44	-0.22	0.5		0.15	-0.3	0.01	0.08	-0.09	0.84	F
T	0.58	0.48	-0.3	0.15		0.11	0.67	0.59	-0.17	-0.17	T
A	0.51	0.27	0.28	-0.3	0.11		-0.27	0.23	0.26	-0.16	A
CRM	0.5	0.6	-0.71	0.01	0.67	-0.27		0.5	-0.29	-0.41	CRM
JPM	0.62	0.3	-0.25	0.08	0.59	0.23	0.5		-0.55	-0.24	JPM
MRK	-0.15	-0.01	0.31	-0.09	-0.17	0.26	-0.29	-0.55		0.16	MRK
XOM	-0.63	-0.46	0.78	0.84	-0.17	-0.16	-0.41	-0.24	0.16		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.84	F
XOM	+ 0.78	UBER
CRM	+ 0.67	T
MSFT	+ 0.62	META
JPM	+ 0.62	META
CRM	+ 0.6	MSFT

High negative correlations

CRM	- 0.71	UBER
XOM	- 0.63	META
MRK	- 0.55	JPM
XOM	- 0.46	MSFT
UBER	- 0.46	MSFT
F	- 0.44	META

IShares Convertible Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Convertible 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 Convertible'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
META	1.41	0.26	0.13	0.73	1.40	(1.61)	3.43	(2.31)	7.43
MSFT	1.12	(0.03)	0.00	(0.42)	0.00	0.00	2.20	(2.79)	7.31
UBER	1.56	(0.23)	0.00	(3.08)	0.00	0.00	2.67	(5.35)	12.29
F	1.35	(0.04)	(0.04)	0.03	1.75	(1.43)	2.46	(2.89)	9.39
T	1.00	0.10	0.04	0.30	1.08	(1.12)	1.91	(1.84)	7.94
A	1.18	0.12	0.06	0.32	1.14	(1.39)	2.81	(2.16)	5.70
CRM	1.51	0.34	0.15	2.71	1.42	(1.76)	3.70	(2.88)	14.80
JPM	1.05	0.25	0.15	0.96	1.05	(1.23)	1.92	(1.42)	15.87
MRK	1.03	(0.11)	0.00	(0.43)	0.00	0.00	2.00	(2.13)	5.24
XOM	0.82	(0.16)	0.00	(0.28)	0.00	0.00	1.71	(1.74)	6.06

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