IShares Utilities Correlations

IDU Etf

USD 104.03 1.72 1.68%

The current 90-days correlation between iShares Utilities ETF and iShares Industrials ETF is 0.22 (i.e., Modest diversification). The correlation of IShares Utilities 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 Utilities Correlation With Market

Average diversification

The correlation between iShares Utilities ETF and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Utilities ETF 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 Utilities ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with IShares Etf

1.0	XLU	Utilities Select Sector Aggressive Push	Pair Corr
1.0	VPU	Vanguard Utilities Index	Pair Corr
1.0	FUTY	Fidelity MSCI Utilities	Pair Corr
0.94	FXU	First Trust Utilities	Pair Corr
0.83	JXI	iShares Global Utilities	Pair Corr
0.79	EVUS	iShares ESG Aware	Pair Corr
0.64	GLDX	USCF Gold Strategy Symbol Change	Pair Corr
0.67	SPY	SPDR SP 500	Pair Corr
0.69	PPA	Invesco Aerospace Defense	Pair Corr
0.66	CSCO	Cisco Systems	Pair Corr
0.8	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.77	T	ATT Inc Aggressive Push	Pair Corr
0.71	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.68	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.87	HD	Home Depot	Pair Corr
0.77	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.65	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.68	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.79	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr

Moving against IShares Etf

0.46	BITI	ProShares Trust	Pair Corr
0.37	RNRG	Global X Renewable	Pair Corr
0.37	YLCO	Global X YieldCo	Pair Corr
0.66	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	IYJ	IYC	IYK	IYZ	IYM
IYJ		0.94	-0.62	0.98	0.56	IYJ
IYC	0.94		-0.68	0.94	0.37	IYC
IYK	-0.62	-0.68		-0.67	-0.21	IYK
IYZ	0.98	0.94	-0.67		0.55	IYZ
IYM	0.56	0.37	-0.21	0.55		IYM
	IYJ	IYC	IYK	IYZ	IYM

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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

IYZ	+ 0.98	IYJ
IYC	+ 0.94	IYJ
IYZ	+ 0.94	IYC
IYM	+ 0.56	IYJ
IYM	+ 0.55	IYZ
IYM	+ 0.37	IYC

High negative correlations

IYK	- 0.68	IYC
IYZ	- 0.67	IYK
IYK	- 0.62	IYJ
IYM	- 0.21	IYK

IShares Utilities Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Utilities 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 Utilities' 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
IYJ	0.63	0.06	0.08	0.14	0.51	(0.70)	1.39	(1.13)	5.64
IYC	0.74	0.11	0.13	0.21	0.59	(0.89)	1.49	(1.22)	3.43
IYK	0.45	(0.02)	0.00	(0.21)	0.00	0.00	0.76	(1.01)	2.46
IYZ	0.66	0.16	0.22	0.28	0.23	(0.77)	1.44	(0.91)	3.70
IYM	0.77	(0.04)	(0.05)	0.04	0.89	(0.84)	1.59	(1.52)	4.37

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