IShares BBB Correlations

LQDB Etf

USD 85.22 0.13 0.15%

The current 90-days correlation between iShares BBB Rated and iShares BB Rated is 0.79 (i.e., Poor diversification). The correlation of IShares BBB 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 BBB Correlation With Market

Modest diversification

The correlation between iShares BBB Rated and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares BBB Rated and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in iShares BBB Rated. 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

0.99	LQD	iShares iBoxx Investment	Pair Corr
0.99	IGIB	iShares 5 10	Pair Corr
0.9	USIG	iShares Broad USD	Pair Corr
0.83	SPIB	SPDR Barclays Interm Sell-off Trend	Pair Corr
0.99	SUSC	iShares ESG USD	Pair Corr
0.98	QLTA	iShares Aaa	Pair Corr
0.99	CORP	PIMCO Investment Grade	Pair Corr
0.99	FLCO	Franklin Liberty Inv	Pair Corr
0.99	GIGB	Goldman Sachs Access	Pair Corr
0.99	VTC	Vanguard Total Corporate	Pair Corr
0.69	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.81	HD	Home Depot	Pair Corr
0.73	PG	Procter Gamble	Pair Corr
0.62	AA	Alcoa Corp	Pair Corr

Moving against IShares Etf

0.46

FBGX

UBS

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.73	-0.6	-0.59	0.33	0.62	0.54	0.41	-0.12	-0.69	META
MSFT	0.73		-0.52	-0.25	0.54	0.32	0.63	0.27	-0.09	-0.47	MSFT
UBER	-0.6	-0.52		0.66	-0.52	-0.21	-0.76	-0.48	0.59	0.8	UBER
F	-0.59	-0.25	0.66		0.04	-0.29	-0.19	-0.08	0.21	0.91	F
T	0.33	0.54	-0.52	0.04		0.11	0.78	0.51	-0.34	-0.17	T
A	0.62	0.32	-0.21	-0.29	0.11		0.2	0.49	0.01	-0.3	A
CRM	0.54	0.63	-0.76	-0.19	0.78	0.2		0.63	-0.53	-0.41	CRM
JPM	0.41	0.27	-0.48	-0.08	0.51	0.49	0.63		-0.62	-0.24	JPM
MRK	-0.12	-0.09	0.59	0.21	-0.34	0.01	-0.53	-0.62		0.27	MRK
XOM	-0.69	-0.47	0.8	0.91	-0.17	-0.3	-0.41	-0.24	0.27		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.91	F
XOM	+ 0.8	UBER
CRM	+ 0.78	T
MSFT	+ 0.73	META
F	+ 0.66	UBER
CRM	+ 0.63	MSFT

High negative correlations

CRM	- 0.76	UBER
XOM	- 0.69	META
MRK	- 0.62	JPM
UBER	- 0.6	META
F	- 0.59	META
MRK	- 0.53	CRM

IShares BBB Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares BBB 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 BBB'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
META	1.35	0.12	0.06	0.37	1.51	(1.52)	3.43	(3.15)	7.43
MSFT	0.96	0.11	0.05	1.81	1.52	(0.95)	2.12	(1.73)	8.14
UBER	1.60	(0.27)	0.00	(3.51)	0.00	0.00	2.67	(5.35)	12.29
F	1.44	(0.12)	0.00	(0.23)	0.00	0.00	2.46	(2.90)	11.21
T	0.97	0.05	0.03	0.17	1.13	(1.04)	1.91	(1.84)	7.96
A	1.21	0.13	0.09	0.28	1.20	(1.40)	2.81	(2.42)	8.06
CRM	1.42	0.21	0.12	0.85	1.45	(1.59)	3.16	(2.88)	14.80
JPM	1.05	0.25	0.18	1.04	1.09	(1.21)	1.92	(1.42)	15.87
MRK	0.99	(0.21)	0.00	(1.25)	0.00	0.00	1.74	(2.17)	5.24
XOM	0.75	(0.15)	0.00	(0.35)	0.00	0.00	1.71	(1.67)	6.06

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