IShares Convertible Correlations

ICVT Etf

USD 89.07 0.44 0.50%

The current 90-days correlation between iShares Convertible Bond and VanEck Vectors Moodys is 0.21 (i.e., Modest 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

Poor diversification

The correlation between iShares Convertible Bond and DJI is 0.74 (i.e., Poor 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

0.99	FCVT	First Trust SSI	Pair Corr
0.99	QCON	American Century Quality	Pair Corr
0.96	ARKW	ARK Next Generation	Pair Corr
0.64	WTMF	WisdomTree Managed	Pair Corr
0.92	EWC	iShares MSCI Canada	Pair Corr
0.88	BST	BlackRock Science Tech	Pair Corr
0.94	TFLR	T Rowe Price	Pair Corr
0.97	VXF	Vanguard Extended Market	Pair Corr
0.98	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.97	ITOT	iShares Core SP	Pair Corr
0.96	SCHG	Schwab Large Cap	Pair Corr
0.97	SFYX	SoFi Next 500	Pair Corr
0.81	DRVN	Driven Brands Holdings	Pair Corr
0.85	XSLV	Invesco SP SmallCap	Pair Corr
0.87	TDSC	Cabana Target Drawdown	Pair Corr
0.94	DVY	iShares Select Dividend	Pair Corr
0.89	PUI	Invesco DWA Utilities	Pair Corr
0.98	MVPS	Amplify Thematic All	Pair Corr
0.83	NVDL	GraniteShares 15x Long	Pair Corr
0.96	IGV	iShares Expanded Tech	Pair Corr
0.68	PBW	Invesco WilderHill Clean	Pair Corr
0.96	VOO	Vanguard SP 500	Pair Corr
0.94	LONZ	PIMCO ETF Trust	Pair Corr

Moving against IShares Etf

0.57	HUM	Humana Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.5	IRET	Tidal Trust II	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.28	0.56	0.02	0.58	0.03	0.65	0.28	-0.54	0.71	META
MSFT	0.28		0.23	0.14	0.19	-0.02	0.03	-0.13	0.11	-0.19	MSFT
UBER	0.56	0.23		-0.04	-0.02	0.27	0.01	-0.13	0.06	0.35	UBER
F	0.02	0.14	-0.04		0.14	-0.4	0.44	0.67	-0.31	0.32	F
T	0.58	0.19	-0.02	0.14		-0.51	0.77	0.56	-0.78	0.37	T
A	0.03	-0.02	0.27	-0.4	-0.51		-0.48	-0.64	0.64	-0.01	A
CRM	0.65	0.03	0.01	0.44	0.77	-0.48		0.85	-0.92	0.66	CRM
JPM	0.28	-0.13	-0.13	0.67	0.56	-0.64	0.85		-0.83	0.49	JPM
MRK	-0.54	0.11	0.06	-0.31	-0.78	0.64	-0.92	-0.83		-0.56	MRK
XOM	0.71	-0.19	0.35	0.32	0.37	-0.01	0.66	0.49	-0.56		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

JPM	+ 0.85	CRM
CRM	+ 0.77	T
XOM	+ 0.71	META
JPM	+ 0.67	F
XOM	+ 0.66	CRM
CRM	+ 0.65	META

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.78	T
JPM	- 0.64	A
XOM	- 0.56	MRK
MRK	- 0.54	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	1.06	0.06	0.02	0.21	1.39	(1.15)	2.62	(3.15)	8.02
MSFT	0.90	(0.03)	(0.04)	0.07	1.49	(0.86)	2.09	(1.85)	8.19
UBER	1.62	(0.13)	(0.05)	0.00	2.26	(1.79)	2.69	(2.53)	20.10
F	1.43	(0.15)	(0.04)	0.02	2.24	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.12	(9.48)	0.86	(1.06)	2.56	(1.72)	6.47
A	1.14	(0.13)	0.00	(0.12)	0.00	0.00	2.29	(2.42)	9.02
CRM	1.29	0.26	0.22	0.36	0.91	(1.53)	3.18	(1.91)	9.09
JPM	1.12	(0.01)	0.06	0.12	1.42	(1.19)	2.05	(2.00)	15.87
MRK	0.89	(0.23)	0.00	(0.76)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.02	(0.06)	(0.09)	0.00	1.34	(1.07)	2.10	(2.09)	5.74

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