IShares Aerospace Correlations

ITA Etf

USD 161.36 2.81 1.77%

The current 90-days correlation between iShares Aerospace Defense and SPDR SP Aerospace is 0.97 (i.e., Almost no diversification). The correlation of IShares Aerospace 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 Aerospace Correlation With Market

Significant diversification

The correlation between iShares Aerospace Defense and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Aerospace Defense 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 Aerospace Defense. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with IShares Etf

0.78	XLI	Industrial Select Sector	Pair Corr
0.74	VIS	Vanguard Industrials	Pair Corr
0.97	PPA	Invesco Aerospace Defense	Pair Corr
0.68	IYJ	iShares Industrials ETF	Pair Corr
0.75	FIDU	Fidelity MSCI Industrials	Pair Corr
0.7	VWO	Vanguard FTSE Emerging	Pair Corr
0.75	BA	Boeing	Pair Corr
0.65	MSFT	Microsoft	Pair Corr
0.63	BAC	Bank of America	Pair Corr

Moving against IShares Etf

0.39

Coca Cola

Pair Corr

Related Correlations Analysis

	XAR	PPA	IHI	IGV	ITB
XAR		0.95	0.57	0.79	0.51	XAR
PPA	0.95		0.42	0.62	0.37	PPA
IHI	0.57	0.42		0.9	0.9	IHI
IGV	0.79	0.62	0.9		0.83	IGV
ITB	0.51	0.37	0.9	0.83		ITB
	XAR	PPA	IHI	IGV	ITB

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IShares Aerospace Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Aerospace 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 Aerospace'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
XAR	1.44	0.04	0.07	3.85	2.00	(1.59)	2.65	(2.38)	12.27
PPA	1.18	0.08	0.09	0.88	1.79	(1.22)	2.13	(2.13)	10.81
IHI	1.10	(0.10)	0.00	0.98	0.00	0.00	1.72	(2.52)	11.00
IGV	1.88	(0.03)	0.00	0.55	0.00	0.00	3.08	(3.77)	15.01
ITB	1.45	(0.16)	0.00	1.23	0.00	0.00	2.91	(3.08)	9.37

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