IShares Basic Correlations

IYM Etf

USD 181.39 1.88 1.05%

The current 90-days correlation between iShares Basic Materials and iShares Telecommunications ETF is 0.44 (i.e., Very weak 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 0.89 (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
1.0	VAW	Vanguard Materials Index	Pair Corr
0.97	XME	SPDR SP Metals	Pair Corr
0.73	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	Pair Corr
0.92	URNM	Sprott Uranium Miners	Pair Corr
0.77	AGQ	ProShares Ultra Silver	Pair Corr
0.9	DFEN	Direxion Daily Aerospace	Pair Corr
0.95	DGP	DB Gold Double	Pair Corr
0.93	UGL	ProShares Ultra Gold	Pair Corr
0.94	NUGT	Direxion Daily Gold	Pair Corr
0.83	DIG	ProShares Ultra Oil	Pair Corr
0.89	OASC	OneAscent Small Cap	Pair Corr
0.93	AHYB	American Century ETF	Pair Corr
0.97	BINC	BlackRock ETF Trust	Pair Corr
0.92	GAPR	First Trust Exchange	Pair Corr
0.86	RDIV	Invesco SP Ultra	Pair Corr
0.85	VBK	Vanguard Small Cap	Pair Corr
0.84	INTC	Intel	Pair Corr
0.89	CAT	Caterpillar	Pair Corr
0.71	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.73	HD	Home Depot	Pair Corr
0.88	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.87	MRK	Merck Company	Pair Corr
0.85	WMT	Walmart Common Stock	Pair Corr
0.94	DD	Dupont De Nemours	Pair Corr

Moving against IShares Etf

0.83	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.73	EV	NEOS Investment Mana	Pair Corr
0.9	HPQ	HP Inc Aggressive Push	Pair Corr
0.39	MMM	3M Company	Pair Corr

Related Correlations Analysis

	IYZ	INDY	IYT	IGE	IAT	IHE	REM	QLC	FDRR	IXG
IYZ		-0.39	0.89	0.87	0.9	0.78	0.62	0.78	0.84	0.78	IYZ
INDY	-0.39		-0.5	-0.67	-0.52	-0.39	-0.78	-0.44	-0.48	-0.42	INDY
IYT	0.89	-0.5		0.85	0.96	0.79	0.74	0.88	0.9	0.88	IYT
IGE	0.87	-0.67	0.85		0.86	0.79	0.84	0.76	0.79	0.73	IGE
IAT	0.9	-0.52	0.96	0.86		0.87	0.77	0.86	0.89	0.92	IAT
IHE	0.78	-0.39	0.79	0.79	0.87		0.71	0.76	0.79	0.76	IHE
REM	0.62	-0.78	0.74	0.84	0.77	0.71		0.79	0.77	0.76	REM
QLC	0.78	-0.44	0.88	0.76	0.86	0.76	0.79		0.9	0.91	QLC
FDRR	0.84	-0.48	0.9	0.79	0.89	0.79	0.77	0.9		0.88	FDRR
IXG	0.78	-0.42	0.88	0.73	0.92	0.76	0.76	0.91	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
IXG	+ 0.92	IAT
IXG	+ 0.91	QLC
IAT	+ 0.9	IYZ
FDRR	+ 0.9	IYT
FDRR	+ 0.9	QLC

High negative correlations

REM	- 0.78	INDY
IGE	- 0.67	INDY
IAT	- 0.52	INDY
IYT	- 0.5	INDY
FDRR	- 0.48	INDY
QLC	- 0.44	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	0.76	0.22	0.18	0.41	0.66	(0.83)	2.16	(1.23)	4.40
INDY	0.56	(0.04)	0.00	(0.05)	0.00	0.00	1.02	(1.00)	3.53
IYT	0.91	0.12	0.14	0.19	0.69	(1.12)	2.52	(1.40)	5.07
IGE	0.94	0.31	0.21	0.58	0.90	(1.04)	1.90	(1.96)	5.42
IAT	0.95	0.28	0.25	0.38	0.64	(1.11)	2.42	(1.19)	5.68
IHE	0.88	0.21	0.19	0.43	0.56	(0.95)	2.15	(1.25)	4.99
REM	0.80	0.09	0.00	(0.73)	0.97	(0.94)	1.76	(1.20)	6.66
QLC	0.61	0.00	(0.02)	0.08	0.71	(0.67)	1.19	(1.06)	4.10
FDRR	0.49	0.10	0.02	(28.37)	0.56	(0.54)	1.24	(1.17)	3.43
IXG	0.64	0.04	0.03	0.13	0.73	(0.68)	1.28	(1.42)	3.52

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