IShares Aerospace Correlations

Etfs . USA . 
Etf . iShares Aerospace Defense
ITA Etf  USD 189.78  0.16  0.08%   
The current 90-days correlation between iShares Aerospace Defense and SPDR SP Aerospace is 0.96 (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

Poor diversification

The correlation between iShares Aerospace Defense and DJI is 0.76 (i.e., Poor 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

  0.98XLI Industrial Select SectorPairCorr
  0.74DRVN Driven Brands HoldingsPairCorr
  0.98VIS Vanguard IndustrialsPairCorr
  0.92JETS US Global JetsPairCorr
  0.93FXR First Trust IndustriPairCorr
  1.0PPA Invesco Aerospace DefensePairCorr
  0.95IYJ iShares Industrials ETFPairCorr
  0.91IYT iShares Transportation Low VolatilityPairCorr
  0.98VTI Vanguard Total StockPairCorr
  0.98SPY SPDR SP 500PairCorr
  0.98IVV iShares Core SPPairCorr
  0.97VTV Vanguard Value IndexPairCorr
  0.99VUG Vanguard Growth IndexPairCorr
  0.97VO Vanguard Mid CapPairCorr
  0.96VEA Vanguard FTSE DevelopedPairCorr
  0.96VB Vanguard Small CapPairCorr
  0.97XSD SPDR SP SemiconductorPairCorr
  0.83INDL Direxion Daily MSCIPairCorr
  0.82MORT VanEck Mortgage REITPairCorr
  0.98BBCA JPMorgan BetaBuildersPairCorr
  0.81ESGS Columbia SustainablePairCorr
  0.97BENJ Horizon FundsPairCorr
  0.94SDY SPDR SP DividendPairCorr
  0.95FHYS Federated Hermes ETFPairCorr
  0.97USXF iShares ESG AdvancedPairCorr
  0.93DIVS SmartETFs DividendPairCorr
  0.9AGNG Global X AgingPairCorr
  0.97SDIV Global X SuperDividendPairCorr
  0.78IBB iShares Biotechnology ETFPairCorr
  0.97HDG ProShares Hedge ReplPairCorr
  0.89TFPN Tidal Trust IIPairCorr
  0.75Z Zillow Group ClassPairCorr
  0.97VXUS Vanguard Total InterPairCorr

Related Correlations Analysis

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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.

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