IShares Home Correlations

ITB Etf

USD 95.08 0.61 0.64%

The current 90-days correlation between iShares Home Construction and SPDR SP Homebuilders is -0.06 (i.e., Good 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

Good diversification

The correlation between iShares Home Construction and DJI is -0.14 (i.e., Good 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.

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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 estimate.

Moving together with IShares Etf

0.69

XHB

SPDR SP Homebuilders

Pair Corr

Related Correlations Analysis

	XHB	XRT	IYT	IYR	KRE
XHB		0.55	0.89	0.48	0.62	XHB
XRT	0.55		0.74	0.64	0.71	XRT
IYT	0.89	0.74		0.52	0.62	IYT
IYR	0.48	0.64	0.52		0.75	IYR
KRE	0.62	0.71	0.62	0.75		KRE
	XHB	XRT	IYT	IYR	KRE

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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
XHB	1.37	(0.02)	0.02	0.12	1.51	(1.43)	3.12	(2.59)	8.11
XRT	0.94	0.35	0.15	(1.03)	0.78	(1.06)	2.34	(1.31)	9.00
IYT	1.12	0.09	0.10	0.21	0.92	(1.31)	2.49	(1.89)	9.48
IYR	0.55	0.13	(0.03)	(0.50)	0.71	(0.57)	1.40	(1.23)	4.69
KRE	1.20	0.39	0.17	(1.77)	1.05	(1.50)	2.76	(1.62)	8.14

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IShares Home Correlations

IShares Home Correlation With Market

Good diversification

Moving together with IShares Etf

Related Correlations Analysis

IShares Home Constituents Risk-Adjusted Indicators

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