IShares 0 Correlations

SHYG Etf

USD 43.05 0.07 0.16%

The current 90-days correlation between iShares 0 5 and SPDR Bloomberg Short is 0.97 (i.e., Almost no diversification). The correlation of IShares 0 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 0 Correlation With Market

Modest diversification

The correlation between iShares 0 5 Year 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 0 5 Year and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in iShares 0 5 Year. 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

0.94	HYG	iShares iBoxx High	Pair Corr
0.95	USHY	iShares Broad USD	Pair Corr
0.93	JNK	SPDR Bloomberg High	Pair Corr
0.95	HYLB	Xtrackers USD High	Pair Corr
1.0	SJNK	SPDR Bloomberg Short	Pair Corr
0.8	ANGL	VanEck Fallen Angel	Pair Corr
0.85	FALN	iShares Fallen Angels	Pair Corr
0.88	HYLS	First Trust Tactical	Pair Corr
0.77	HYDW	Xtrackers Low Beta	Pair Corr
0.8	BITX	Volatility Shares Trust Buyout Trend	Pair Corr
0.62	VCAR	Simplify Volt RoboCar Symbol Change	Pair Corr
0.7	TSLL	Direxion Shares ETF Buyout Trend	Pair Corr
0.77	IGV	iShares Expanded Tech	Pair Corr
0.68	WUCT	UBS AG London	Pair Corr
0.76	BRLN	Blackrock ETF Trust	Pair Corr
0.81	UMI	USCF Midstream Energy	Pair Corr
0.71	GMM	Global Mofy Metaverse	Pair Corr
0.79	Z	Zillow Group Class	Pair Corr
0.8	WANT	Direxion Daily Cnsmr	Pair Corr
0.82	SPYG	SPDR Portfolio SP	Pair Corr
0.95	XCCC	BondBloxx ETF Trust	Pair Corr
0.78	YMAG	YieldMax Magnificent	Pair Corr
0.73	TFLO	iShares Treasury Floating	Pair Corr
0.79	PTNQ	Pacer Trendpilot 100	Pair Corr
0.84	HAPR	Innovator Premium Income	Pair Corr
0.79	FLDR	Fidelity Low Duration	Pair Corr
0.88	AUGP	PGIM Large Cap	Pair Corr
0.8	OLO	Olo Inc	Pair Corr
0.75	YEAR	AB Ultra Short	Pair Corr
0.82	VUG	Vanguard Growth Index	Pair Corr
0.7	XONE	Bondbloxx Bloomberg One	Pair Corr
0.73	FNGS	MicroSectors FANG ETN	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.72	-0.55	-0.58	0.32	0.54	0.53	0.32	-0.05	-0.66	META
MSFT	0.72		-0.54	-0.24	0.57	0.2	0.65	0.27	-0.12	-0.48	MSFT
UBER	-0.55	-0.54		0.62	-0.61	0.0	-0.79	-0.59	0.69	0.81	UBER
F	-0.58	-0.24	0.62		0.0	-0.23	-0.2	-0.06	0.19	0.89	F
T	0.32	0.57	-0.61	0.0		-0.05	0.81	0.63	-0.49	-0.27	T
A	0.54	0.2	0.0	-0.23	-0.05		0.08	0.11	0.41	-0.14	A
CRM	0.53	0.65	-0.79	-0.2	0.81	0.08		0.74	-0.62	-0.46	CRM
JPM	0.32	0.27	-0.59	-0.06	0.63	0.11	0.74		-0.63	-0.28	JPM
MRK	-0.05	-0.12	0.69	0.19	-0.49	0.41	-0.62	-0.63		0.35	MRK
XOM	-0.66	-0.48	0.81	0.89	-0.27	-0.14	-0.46	-0.28	0.35		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	+ 0.89	F
XOM	+ 0.81	UBER
CRM	+ 0.81	T
JPM	+ 0.74	CRM
MSFT	+ 0.72	META
MRK	+ 0.69	UBER

High negative correlations

CRM	- 0.79	UBER
XOM	- 0.66	META
MRK	- 0.63	JPM
MRK	- 0.62	CRM
T	- 0.61	UBER
JPM	- 0.59	UBER

IShares 0 Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares 0 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 0'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	1.36	0.06	0.04	0.20	1.52	(1.56)	3.43	(3.15)	7.43
MSFT	0.91	0.03	0.02	4.35	1.58	(0.86)	2.09	(1.73)	8.14
UBER	1.63	(0.33)	0.00	(5.53)	0.00	0.00	2.67	(5.35)	12.29
F	1.38	(0.07)	0.00	(0.19)	0.00	0.00	2.38	(2.81)	11.21
T	0.96	0.06	0.06	0.17	1.12	(1.04)	1.91	(1.84)	7.96
A	1.18	0.02	0.01	0.04	1.46	(1.29)	2.72	(2.42)	8.06
CRM	1.41	0.17	0.11	0.94	1.45	(1.59)	3.16	(2.88)	14.80
JPM	1.01	0.22	0.17	1.03	1.13	(1.15)	1.81	(1.42)	15.87
MRK	0.96	(0.12)	0.00	(0.43)	0.00	0.00	1.74	(2.13)	5.17
XOM	0.75	(0.15)	0.00	(0.41)	0.00	0.00	1.71	(1.67)	6.06

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