IShares Commodity Correlations

CCRV Etf  USD 20.75  0.60  2.98%   
The current 90-days correlation between iShares Commodity Curve and iShares Bloomberg Roll is 0.87 (i.e., Very poor diversification). The correlation of IShares Commodity 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. If the correlation is 0, the equities are not correlated; they are entirely random.

IShares Commodity Correlation With Market

Very weak diversification

The correlation between iShares Commodity Curve and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Commodity Curve and DJI in the same portfolio, assuming nothing else is changed.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in iShares Commodity Curve. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with IShares Etf

  0.85PDBC Invesco Optimum YieldPairCorr
  0.84FTGC First Trust GlobalPairCorr
  0.88DBC Invesco DB CommodityPairCorr
  0.99COMT iShares GSCI CommodityPairCorr
  0.99GSG iShares SP GSCIPairCorr
  0.93DJP iPath Bloomberg CommodityPairCorr
  0.93BCI abrdn Bloomberg AllPairCorr
  0.93CMDY iShares Bloomberg RollPairCorr
  0.93COMB GraniteShares BloombergPairCorr
  0.8GCC WisdomTree ContinuousPairCorr
  0.85OIH VanEck Oil ServicesPairCorr
  0.78IRET iREIT MarketVectorPairCorr

Moving against IShares Etf

  0.4IAGG iShares Core InternaPairCorr
  0.34OBIL US Treasury 12PairCorr

Related Correlations Analysis

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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   
JPMMSFT
JPMUBER
UBERMSFT
FUBER
JPMF
MSFTMETA
  
High negative correlations   
MRKUBER
MRKMSFT
MRKJPM
MRKT
MRKF
XOMMSFT

IShares Commodity Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Commodity 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 Commodity'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  2.16  0.14  0.05  0.12  2.73 
 4.23 
 21.50 
MSFT  1.26  0.36  0.20 (6.57) 1.13 
 2.58 
 13.79 
UBER  1.92  0.32  0.11 (1.86) 2.33 
 4.19 
 16.18 
F  1.70  0.13  0.06  0.18  2.25 
 2.90 
 13.07 
T  1.19  0.14  0.06  7.84  1.77 
 2.01 
 8.83 
A  1.81 (0.05) 0.00 (0.01) 0.00 
 3.24 
 14.45 
CRM  1.65 (0.03) 0.00  0.42  0.00 
 3.02 
 13.13 
JPM  1.33  0.25  0.10  1.68  1.95 
 2.88 
 11.14 
MRK  1.60 (0.19) 0.00  0.77  0.00 
 2.55 
 10.60 
XOM  1.29  0.03  0.00  5.15  2.19 
 2.80 
 10.53