IShares Correlations
| IDAT Etf | USD 36.73 0.00 0.00% |
The current 90-days correlation between IShares and Innovator Capital Management is -0.15 (i.e., Good diversification). The correlation of IShares 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 Correlation With Market
Very poor diversification
The correlation between IShares and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IShares and DJI in the same portfolio, assuming nothing else is changed.
Moving together with IShares Etf
| 0.69 | SMH | VanEck Semiconductor ETF | PairCorr |
| 0.66 | SOXX | iShares Semiconductor ETF | PairCorr |
| 0.67 | AGQ | ProShares Ultra Silver | PairCorr |
| 0.77 | JNUG | Direxion Daily Junior | PairCorr |
| 0.76 | NUGT | Direxion Daily Gold | PairCorr |
| 0.74 | GGLL | Direxion Daily GOOGL Downward Rally | PairCorr |
| 0.65 | RDIV | Invesco SP Ultra | PairCorr |
| 0.9 | AHYB | American Century ETF | PairCorr |
| 0.84 | BINC | BlackRock ETF Trust | PairCorr |
| 0.78 | BA | Boeing | PairCorr |
| 0.75 | DD | Dupont De Nemours Earnings Call This Week | PairCorr |
| 0.74 | JNJ | Johnson Johnson | PairCorr |
Moving against IShares Etf
| 0.74 | FNGO | MicroSectors FANG Index | PairCorr |
| 0.59 | CIBR | First Trust NASDAQ | PairCorr |
| 0.57 | GBTC | Grayscale Bitcoin Trust | PairCorr |
| 0.47 | IGV | iShares Expanded Tech | PairCorr |
| 0.44 | NVDL | GraniteShares 15x Long | PairCorr |
| 0.37 | FDN | First Trust Dow | PairCorr |
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
| High negative correlations
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IShares Constituents Risk-Adjusted Indicators
There is a big difference between IShares Etf performing well and IShares 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' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| IWTR | 0.56 | 0.10 | 0.02 | (1.36) | 0.43 | 1.45 | 3.55 | |||
| ERM | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BKUS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| PLAT | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| HART | 0.74 | 0.05 | (0.02) | 0.55 | 0.85 | 1.54 | 4.54 | |||
| HCOM | 0.36 | (0.03) | 0.00 | (0.16) | 0.00 | 1.26 | 3.50 | |||
| ONG | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| EEMD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BKIS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| APRD | 0.05 | 0.01 | (0.64) | (1.15) | 0.00 | 0.16 | 0.41 |
IShares Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with IShares etf to make a market-neutral strategy. Peer analysis of IShares could also be used in its relative valuation, which is a method of valuing IShares by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |