IShares Energy Correlations

IYE Etf

USD 50.72 0.53 1.06%

The current 90-days correlation between iShares Energy ETF and First Trust Exchange Traded is -0.06 (i.e., Good diversification). The correlation of IShares Energy 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.

IShares Energy Correlation With Market

Very weak diversification

The correlation between iShares Energy ETF and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Energy 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 Energy 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 manufacturing.

Moving together with IShares Etf

1.0	XLE	Energy Select Sector Aggressive Push	Pair Corr
1.0	VDE	Vanguard Energy Index	Pair Corr
0.95	XOP	SPDR SP Oil	Pair Corr
0.74	OIH	VanEck Oil Services	Pair Corr
0.91	IXC	iShares Global Energy	Pair Corr
0.9	FXN	First Trust Energy	Pair Corr
1.0	FENY	Fidelity MSCI Energy	Pair Corr
0.97	FTXN	First Trust Nasdaq	Pair Corr
0.93	IEO	iShares Oil Gas Low Volatility	Pair Corr
0.75	SIXD	AIM ETF Products	Pair Corr
0.71	TSJA	TSJA	Pair Corr
0.68	DSJA	DSJA	Pair Corr
0.75	PPA	Invesco Aerospace Defense	Pair Corr
0.75	SPY	SPDR SP 500	Pair Corr
0.71	CSCO	Cisco Systems	Pair Corr
0.74	DIS	Walt Disney Aggressive Push	Pair Corr
0.73	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.86	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.71	HPQ	HP Inc	Pair Corr
0.65	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.73	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.76	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr

Moving against IShares Etf

0.74	YCL	ProShares Ultra Yen	Pair Corr
0.73	FXY	Invesco CurrencyShares	Pair Corr
0.72	ULE	ProShares Ultra Euro	Pair Corr
0.66	VIIX	VIIX	Pair Corr
0.69	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.69	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.56	PG	Procter Gamble	Pair Corr
0.5	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	FSIG	SDVY	UCON	FIXD	MMLG
FSIG		-0.32	0.98	0.84	-0.39	FSIG
SDVY	-0.32		-0.43	-0.7	0.92	SDVY
UCON	0.98	-0.43		0.9	-0.49	UCON
FIXD	0.84	-0.7	0.9		-0.77	FIXD
MMLG	-0.39	0.92	-0.49	-0.77		MMLG
	FSIG	SDVY	UCON	FIXD	MMLG

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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

UCON	+ 0.98	FSIG
MMLG	+ 0.92	SDVY
FIXD	+ 0.9	UCON
FIXD	+ 0.84	FSIG

High negative correlations

MMLG	- 0.77	FIXD
FIXD	- 0.7	SDVY
MMLG	- 0.49	UCON
UCON	- 0.43	SDVY
MMLG	- 0.39	FSIG
SDVY	- 0.32	FSIG

IShares Energy Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Energy 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 Energy'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
FSIG	0.12	(0.01)	(0.51)	(0.59)	0.15	(0.12)	0.21	(0.21)	0.73
SDVY	0.89	0.03	0.08	0.10	0.78	(1.05)	1.99	(1.35)	7.99
UCON	0.12	(0.01)	(0.47)	0.39	0.17	(0.12)	0.20	(0.28)	0.84
FIXD	0.25	(0.04)	0.00	0.70	0.00	0.00	0.51	(0.63)	1.38
MMLG	0.81	0.02	0.01	0.11	1.12	(0.78)	1.56	(2.09)	4.98

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