IShares BB Correlations

HYBB Etf

USD 46.64 0.03 0.06%

The current 90-days correlation between iShares BB Rated and iShares Edge High is -0.1 (i.e., Good diversification). The correlation of IShares BB 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 BB Correlation With Market

Poor diversification

The correlation between iShares BB Rated and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares BB Rated 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 BB 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 bureau of labor statistics.

Moving together with IShares Etf

0.99	HYG	iShares iBoxx High	Pair Corr
0.99	USHY	iShares Broad USD	Pair Corr
1.0	JNK	SPDR Bloomberg High	Pair Corr
0.99	SHYG	iShares 0 5	Pair Corr
0.99	HYLB	Xtrackers USD High	Pair Corr
0.99	SJNK	SPDR Bloomberg Short	Pair Corr
1.0	ANGL	VanEck Fallen Angel	Pair Corr
0.99	FALN	iShares Fallen Angels	Pair Corr
0.99	HYLS	First Trust Tactical	Pair Corr
0.99	HYDW	Xtrackers Low Beta	Pair Corr
0.85	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.94	USD	ProShares Ultra Semi	Pair Corr
0.95	DFEN	Direxion Daily Aerospace	Pair Corr
0.94	DUSL	Direxion Daily Indus	Pair Corr
0.8	DIG	ProShares Ultra Oil	Pair Corr
0.98	FNGO	MicroSectors FANG Index	Pair Corr
0.7	MLPR	ETRACS Quarterly Pay	Pair Corr
0.65	AMZA	InfraCap MLP ETF	Pair Corr
0.95	VABS	Virtus Newfleet ABSMBS	Pair Corr
0.8	EUSB	iShares Trust	Pair Corr
0.95	SPIB	SPDR Barclays Interm	Pair Corr
0.91	PFUT	Putnam Sustainable Future	Pair Corr
0.87	VBF	Invesco Van Kampen	Pair Corr
0.84	HIDE	Alpha Architect High	Pair Corr
0.72	KGRN	KraneShares MSCI China	Pair Corr
0.95	NFLX	Netflix Downward Rally	Pair Corr
0.96	BUFD	FT Cboe Vest	Pair Corr
0.95	QTOC	Innovator ETFs Trust	Pair Corr
0.98	CGGO	Capital Group Global	Pair Corr

Moving against IShares Etf

0.61

FNGU

MicroSectors FANG Index Symbol Change

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.82	0.55	0.93	0.29	0.94	0.23	0.57	META
MSFT	0.98		0.87	0.85	0.52	0.89	0.29	0.96	0.24	0.59	MSFT
UBER	0.84	0.87		0.9	0.42	0.81	0.54	0.88	0.21	0.54	UBER
F	0.82	0.85	0.9		0.4	0.84	0.28	0.91	0.43	0.73	F
T	0.55	0.52	0.42	0.4		0.57	0.17	0.5	0.27	0.16	T
A	0.93	0.89	0.81	0.84	0.57		0.24	0.89	0.37	0.63	A
CRM	0.29	0.29	0.54	0.28	0.17	0.24		0.23	-0.26	-0.08	CRM
JPM	0.94	0.96	0.88	0.91	0.5	0.89	0.23		0.32	0.68	JPM
MRK	0.23	0.24	0.21	0.43	0.27	0.37	-0.26	0.32		0.56	MRK
XOM	0.57	0.59	0.54	0.73	0.16	0.63	-0.08	0.68	0.56		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

MSFT	+ 0.98	META
JPM	+ 0.96	MSFT
JPM	+ 0.94	META
A	+ 0.93	META
JPM	+ 0.91	F
F	+ 0.9	UBER

High negative correlations

MRK	- 0.26	CRM
XOM	- 0.08	CRM

IShares BB Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares BB 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 BB'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	1.51	0.26	0.21	0.32	1.10	(1.82)	3.99	(2.35)	10.48
MSFT	0.90	0.30	0.27	0.47	0.54	(1.09)	2.33	(1.08)	8.85
UBER	1.64	0.20	0.13	0.33	1.40	(2.08)	4.19	(2.54)	10.87
F	1.32	0.14	0.06	0.32	1.47	(1.42)	2.69	(2.61)	7.46
T	1.02	(0.05)	(0.10)	0.00	1.35	(1.06)	2.35	(2.35)	5.71
A	1.46	(0.07)	0.00	0.09	1.81	(1.51)	2.54	(2.89)	14.01
CRM	1.33	(0.13)	(0.04)	0.04	1.74	(1.28)	2.95	(3.19)	9.31
JPM	0.90	0.22	0.18	0.38	0.67	(1.02)	2.25	(1.36)	6.03
MRK	1.39	(0.09)	(0.05)	0.04	1.96	(1.32)	2.88	(3.31)	10.58
XOM	1.08	0.14	0.00	(9.00)	1.19	(1.12)	2.40	(2.51)	5.84

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