IShares Home Correlations

ITB Etf

USD 103.91 0.02 0.02%

The current 90-days correlation between iShares Home Construction and Columbia Emerging Markets is 0.11 (i.e., Average diversification). The correlation of IShares Home 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 Home Correlation With Market

Very weak diversification

The correlation between iShares Home Construction and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Home Construction 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 Home Construction. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with IShares Etf

0.92	XHB	SPDR SP Homebuilders	Pair Corr
0.78	IYC	iShares Consumer Dis	Pair Corr
0.76	PEJ	Invesco Dynamic Leisure	Pair Corr
0.95	FXD	First Trust Consumer	Pair Corr
0.86	XRT	SPDR SP Retail Sell-off Trend	Pair Corr
0.86	T	ATT Inc	Pair Corr
0.9	PG	Procter Gamble Sell-off Trend	Pair Corr
0.89	HD	Home Depot	Pair Corr
0.75	HPQ	HP Inc	Pair Corr

Moving against IShares Etf

0.81	ZBIO	Zenas BioPharma, Common	Pair Corr
0.8	JUNE	JUNE Symbol Change	Pair Corr
0.71	LENS	Sarmaya Thematic ETF	Pair Corr
0.69	ASA	ASA Gold	Pair Corr
0.66	TCAI	Tortoise Capital Series	Pair Corr
0.59	WNTR	YieldMax MSTR Short	Pair Corr
0.47	MAPP	Harbor ETF Trust	Pair Corr
0.79	IBM	International Business	Pair Corr
0.79	CSCO	Cisco Systems	Pair Corr
0.69	DD	Dupont De Nemours	Pair Corr
0.67	AA	Alcoa Corp	Pair Corr
0.67	XOM	Exxon Mobil Corp	Pair Corr
0.65	GE	GE Aerospace	Pair Corr
0.55	MMM	3M Company	Pair Corr
0.51	MRK	Merck Company Aggressive Push	Pair Corr
0.5	GMF	SPDR SP Emerging	Pair Corr
0.5	BAC	Bank of America	Pair Corr
0.31	IWMI	NEOS Russell 2000 Low Volatility	Pair Corr

Related Correlations Analysis

	ECON	NAIL	WANT	FDIS	FLYU	FLYD	BJK	FXD	ITB
ECON		-0.73	0.07	0.11	-0.64	0.51	-0.76	-0.56	-0.69	ECON
NAIL	-0.73		0.52	0.49	0.91	-0.84	0.92	0.94	1.0	NAIL
WANT	0.07	0.52		0.99	0.63	-0.66	0.52	0.67	0.55	WANT
FDIS	0.11	0.49	0.99		0.6	-0.66	0.49	0.66	0.53	FDIS
FLYU	-0.64	0.91	0.63	0.6		-0.96	0.94	0.93	0.9	FLYU
FLYD	0.51	-0.84	-0.66	-0.66	-0.96		-0.86	-0.94	-0.85	FLYD
BJK	-0.76	0.92	0.52	0.49	0.94	-0.86		0.9	0.91	BJK
FXD	-0.56	0.94	0.67	0.66	0.93	-0.94	0.9		0.95	FXD
ITB	-0.69	1.0	0.55	0.53	0.9	-0.85	0.91	0.95		ITB
	ECON	NAIL	WANT	FDIS	FLYU	FLYD	BJK	FXD	ITB

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

ITB	+ 1.0	NAIL
FDIS	+ 0.99	WANT
ITB	+ 0.95	FXD
FXD	+ 0.94	NAIL
BJK	+ 0.94	FLYU
FXD	+ 0.93	FLYU

High negative correlations

FLYD	- 0.96	FLYU
FXD	- 0.94	FLYD
BJK	- 0.86	FLYD
ITB	- 0.85	FLYD
FLYD	- 0.84	NAIL
BJK	- 0.76	ECON

IShares Home Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Home 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 Home'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
ECON	0.71	0.08	0.07	0.16	0.96	(0.76)	1.45	(1.40)	5.07
NAIL	3.29	(0.53)	0.00	(0.08)	0.00	0.00	8.82	(8.61)	19.08
WANT	2.80	(0.21)	(0.01)	0.01	3.70	(2.75)	5.81	(6.82)	15.17
FDIS	0.96	(0.08)	(0.04)	0.00	1.32	(0.90)	2.21	(2.23)	5.21
FLYU	3.03	(0.58)	0.00	(0.08)	0.00	0.00	6.14	(8.15)	17.35
FLYD	3.05	0.51	0.05	(0.06)	3.53	(3.31)	7.95	(6.61)	20.43
BJK	0.77	(0.21)	0.00	(0.17)	0.00	0.00	1.50	(2.19)	5.10
FXD	0.89	(0.12)	0.00	(0.03)	0.00	0.00	1.89	(1.74)	4.44
ITB	1.11	(0.17)	0.00	(0.07)	0.00	0.00	2.99	(2.97)	6.25

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