IShares Utilities Correlations

IDU Etf

USD 102.73 0.74 0.72%

The current 90-days correlation between iShares Utilities ETF and iShares Industrials ETF is -0.1 (i.e., Good diversification). The correlation of IShares Utilities 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 Utilities Correlation With Market

Good diversification

The correlation between iShares Utilities ETF and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Utilities ETF 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 Utilities ETF. 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

1.0	XLU	Utilities Select Sector	Pair Corr
0.89	VPU	Vanguard Utilities Index	Pair Corr
0.89	FUTY	Fidelity MSCI Utilities	Pair Corr
0.95	JXI	iShares Global Utilities	Pair Corr
0.98	PUI	Invesco DWA Utilities	Pair Corr
0.9	UTES	Virtus Reaves Utilities	Pair Corr
0.65	JNUG	Direxion Daily Junior	Pair Corr
0.61	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.88	XBJL	Innovator Equity Acc	Pair Corr
0.82	TOV	EA Series Trust	Pair Corr
0.86	QGRW	WisdomTree Trust	Pair Corr
0.82	EAOM	iShares ESG Aware	Pair Corr
0.84	FYC	First Trust Small	Pair Corr
0.63	DSPY	Tema ETF Trust	Pair Corr
0.85	ARKB	ARK 21Shares Bitcoin	Pair Corr
0.9	VOLT	Tema Electrification ETF	Pair Corr
0.86	TOPT	iShares Trust	Pair Corr
0.69	BPI	Grayscale Funds Trust	Pair Corr
0.66	SMH	VanEck Semiconductor ETF	Pair Corr
0.9	QVOY	Ultimus Managers Trust	Pair Corr
0.79	DMCY	Democracy International	Pair Corr
0.81	FMAY	First Trust Exchange	Pair Corr
0.87	OOSB	One One SP	Pair Corr
0.62	BLLD	JPMorgan	Pair Corr
0.91	GPGEX	Grandeur Peak Global	Pair Corr
0.8	BTFD	Valkyrie Bitcoin Strategy	Pair Corr
0.72	GSIG	Goldman Sachs Access	Pair Corr
0.8	RINF	ProShares Inflation	Pair Corr
0.87	PWRD	Perfect World Symbol Change	Pair Corr
0.9	GLOF	iShares MSCI Global	Pair Corr
0.83	FORH	Formidable ETF	Pair Corr

Moving against IShares Etf

0.77	ARKC	ARK 21Shares Active	Pair Corr
0.56	AMPS	Blackrock	Pair Corr
0.56	WTID	UBS ETRACS	Pair Corr

Related Correlations Analysis

	IYJ	IYC	IYK	IYZ	IYM
IYJ		0.98	0.29	0.98	0.78	IYJ
IYC	0.98		0.27	0.95	0.7	IYC
IYK	0.29	0.27		0.3	0.33	IYK
IYZ	0.98	0.95	0.3		0.82	IYZ
IYM	0.78	0.7	0.33	0.82		IYM
	IYJ	IYC	IYK	IYZ	IYM

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IShares Utilities Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Utilities 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 Utilities' 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
IYJ	1.14	0.05	0.03	0.08	1.80	(1.11)	1.98	(2.14)	11.74
IYC	1.28	0.11	0.06	0.12	1.76	(1.26)	2.94	(2.73)	13.17
IYK	0.80	0.00	(0.02)	0.02	1.07	(0.89)	1.66	(1.30)	6.38
IYZ	0.94	0.03	0.01	0.07	1.76	(0.84)	1.44	(2.03)	8.92
IYM	1.11	0.08	0.02	(0.43)	1.80	(1.07)	2.16	(3.10)	12.62

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