IShares Basic Correlations

IYM Etf

USD 180.75 4.28 2.31%

The current 90-days correlation between iShares Basic Materials and iShares Telecommunications ETF is -0.19 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Basic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Basic Materials moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Basic Correlation With Market

Very poor diversification

The correlation between iShares Basic Materials and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Basic Materials and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IShares Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iShares Basic Materials. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in private.

Moving together with IShares Etf

0.99	XLB	Materials Select Sector Aggressive Push	Pair Corr
0.98	VAW	Vanguard Materials Index	Pair Corr
0.93	XME	SPDR SP Metals	Pair Corr
0.7	PHO	Invesco Water Resources	Pair Corr
0.97	MOO	VanEck Agribusiness ETF	Pair Corr
1.0	FXZ	First Trust Materials	Pair Corr
0.79	FIW	First Trust Water Potential Growth	Pair Corr
0.91	URNM	Sprott Uranium Miners	Pair Corr
0.85	ITWO	Proshares Russell 2000	Pair Corr
0.72	AMPD	Tidal ETF Services	Pair Corr
0.66	ELON	Battleshares TSLA	Pair Corr
0.89	CPST	Calamos ETF Trust	Pair Corr
0.96	VGUS	Vanguard Ultra Short	Pair Corr
0.95	IRTR	iShares Trust	Pair Corr
0.88	UMAY	Innovator ETFs Trust	Pair Corr
0.92	EMES	Harbor ETF Trust	Pair Corr
0.95	SCDV	ETF Series Solutions	Pair Corr
0.94	JEPI	JPMorgan Equity Premium	Pair Corr
0.77	FXC	Invesco CurrencyShares	Pair Corr
0.81	CTEX	ProShares SP Kensho	Pair Corr
0.96	PCEM	Litman Gregory Funds	Pair Corr
0.92	FPXE	First Trust IPOX	Pair Corr
0.87	XAUG	FT Cboe Vest	Pair Corr
0.94	REGL	ProShares SP MidCap	Pair Corr
0.83	DOGG	First Trust Exchange	Pair Corr
0.95	NBCE	Neuberger Berman ETF	Pair Corr
0.85	JANW	AIM ETF Products	Pair Corr
0.95	CHPS	Xtrackers Semiconductor	Pair Corr
0.91	PFF	iShares Preferred	Pair Corr
0.9	UDI	USCF ETF Trust	Pair Corr
0.91	XFIX	Fm Investments Symbol Change	Pair Corr
0.64	GOOX	Etf Opportunities Trust	Pair Corr
0.91	IQSZ	Invesco Actively Managed	Pair Corr
0.88	QLV	FlexShares Quality Low	Pair Corr

Moving against IShares Etf

0.81	MPAY	Exchange Traded Concepts	Pair Corr
0.72	EV	NEOS Investment Mana	Pair Corr

Related Correlations Analysis

	IYZ	INDY	IYT	IGE	IAT	IHE	REM	QLC	FDRR	IXG
IYZ		-0.4	0.87	0.9	0.89	0.84	0.53	0.71	0.84	0.7	IYZ
INDY	-0.4		-0.55	-0.67	-0.56	-0.47	-0.74	-0.5	-0.49	-0.43	INDY
IYT	0.87	-0.55		0.85	0.96	0.8	0.69	0.86	0.88	0.82	IYT
IGE	0.9	-0.67	0.85		0.85	0.83	0.76	0.72	0.8	0.67	IGE
IAT	0.89	-0.56	0.96	0.85		0.89	0.73	0.85	0.9	0.89	IAT
IHE	0.84	-0.47	0.8	0.83	0.89		0.7	0.71	0.8	0.73	IHE
REM	0.53	-0.74	0.69	0.76	0.73	0.7		0.75	0.73	0.74	REM
QLC	0.71	-0.5	0.86	0.72	0.85	0.71	0.75		0.89	0.87	QLC
FDRR	0.84	-0.49	0.88	0.8	0.9	0.8	0.73	0.89		0.88	FDRR
IXG	0.7	-0.43	0.82	0.67	0.89	0.73	0.74	0.87	0.88		IXG
	IYZ	INDY	IYT	IGE	IAT	IHE	REM	QLC	FDRR	IXG

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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

IAT	+ 0.96	IYT
IGE	+ 0.9	IYZ
FDRR	+ 0.9	IAT
IAT	+ 0.89	IYZ
IHE	+ 0.89	IAT
IXG	+ 0.89	IAT

High negative correlations

REM	- 0.74	INDY
IGE	- 0.67	INDY
IAT	- 0.56	INDY
IYT	- 0.55	INDY
QLC	- 0.5	INDY
FDRR	- 0.49	INDY

IShares Basic Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Basic 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 Basic'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
IYZ	0.77	0.23	0.18	0.38	0.75	(0.82)	2.16	(1.55)	4.86
INDY	0.56	(0.06)	0.00	(0.12)	0.00	0.00	1.02	(0.88)	3.59
IYT	0.93	0.15	0.09	(3.26)	0.87	(1.11)	2.52	(1.72)	5.07
IGE	1.00	0.29	0.20	0.49	1.03	(1.08)	2.09	(2.29)	5.70
IAT	0.99	0.26	0.18	1.01	0.87	(1.10)	2.42	(1.59)	5.68
IHE	0.83	0.21	0.19	0.43	0.55	(0.88)	2.14	(1.25)	4.99
REM	0.77	0.07	0.04	0.19	0.90	(0.91)	1.76	(1.20)	6.66
QLC	0.63	0.04	(0.02)	1.35	0.82	(0.67)	1.19	(1.65)	4.10
FDRR	0.49	0.01	(0.01)	0.07	0.62	(0.52)	1.16	(1.19)	3.43
IXG	0.67	0.00	(0.01)	0.06	0.83	(0.67)	1.28	(1.46)	3.52

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