IShares Lithium Correlations

ILIT Etf

10.89 0.34 3.03%

The current 90-days correlation between iShares Lithium Miners and First Trust Exchange Traded is -0.05 (i.e., Good diversification). The correlation of IShares Lithium 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 Lithium Correlation With Market

Good diversification

The correlation between iShares Lithium Miners and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Lithium Miners 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 Lithium Miners. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with IShares Etf

0.91	EV	Mast Global Battery	Pair Corr
0.72	VAW	Vanguard Materials Index	Pair Corr
0.81	XME	SPDR SP Metals	Pair Corr
0.66	FXZ	First Trust Materials	Pair Corr
0.82	URNM	Sprott Uranium Miners	Pair Corr
0.68	IYM	iShares Basic Materials	Pair Corr
0.66	VR	VR	Pair Corr
0.79	PWER	Macquarie ETF Trust	Pair Corr
0.62	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.61	T	ATT Inc Sell-off Trend	Pair Corr
0.73	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.75	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.88	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.75	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.8	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.68	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr

Moving against IShares Etf

0.66	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.59	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.5	KO	Coca Cola Aggressive Push	Pair Corr

Related Correlations Analysis

	MDEV	MDST	MEDX	MEDI	MGNR	MISL	DPST	DRIP	DRLL
MDEV		-0.44	0.58	0.82	-0.04	0.24	-0.55	0.27	-0.26	MDEV
MDST	-0.44		-0.9	-0.68	0.8	0.57	0.9	-0.78	0.81	MDST
MEDX	0.58	-0.9		0.84	-0.67	-0.33	-0.77	0.58	-0.63	MEDX
MEDI	0.82	-0.68	0.84		-0.29	-0.05	-0.63	0.38	-0.42	MEDI
MGNR	-0.04	0.8	-0.67	-0.29		0.7	0.66	-0.73	0.76	MGNR
MISL	0.24	0.57	-0.33	-0.05	0.7		0.53	-0.52	0.55	MISL
DPST	-0.55	0.9	-0.77	-0.63	0.66	0.53		-0.72	0.71	DPST
DRIP	0.27	-0.78	0.58	0.38	-0.73	-0.52	-0.72		-0.99	DRIP
DRLL	-0.26	0.81	-0.63	-0.42	0.76	0.55	0.71	-0.99		DRLL
	MDEV	MDST	MEDX	MEDI	MGNR	MISL	DPST	DRIP	DRLL

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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

DPST	+ 0.9	MDST
MEDI	+ 0.84	MEDX
MEDI	+ 0.82	MDEV
DRLL	+ 0.81	MDST
MGNR	+ 0.8	MDST
DRLL	+ 0.76	MGNR

High negative correlations

DRLL	- 0.99	DRIP
MEDX	- 0.9	MDST
DRIP	- 0.78	MDST
DPST	- 0.77	MEDX
DRIP	- 0.73	MGNR
DRIP	- 0.72	DPST

IShares Lithium Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Lithium 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 Lithium'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
MDEV	0.58	(0.08)	0.00	(0.03)	0.00	0.00	1.32	(1.04)	2.88
MDST	0.67	0.08	0.03	0.26	0.55	(0.75)	1.61	(0.91)	4.07
MEDX	0.65	(0.26)	0.00	(0.33)	0.00	0.00	1.16	(1.65)	4.42
MEDI	0.81	(0.14)	0.00	(0.10)	0.00	0.00	1.55	(1.69)	5.09
MGNR	1.00	0.06	0.02	0.20	1.25	(1.10)	2.34	(2.00)	5.83
MISL	0.83	(0.07)	(0.05)	0.05	1.36	(0.84)	1.70	(1.89)	8.21
DPST	4.12	0.06	0.17	0.13	3.94	(4.94)	8.64	(5.98)	51.17
DRIP	2.44	0.08	0.00	0.08	0.00	0.00	5.12	(4.18)	18.28
DRLL	0.95	(0.02)	(0.04)	0.09	1.35	(0.88)	1.86	(2.04)	5.64

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