IShares Industrials Correlations

Etfs . USA . 
Etf . iShares Industrials ETF
IYJ Etf  USD 144.85  0.36  0.25%   
The current 90-days correlation between iShares Industrials ETF and iShares Consumer Discretionary is 0.9 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Industrials moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Industrials ETF moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Industrials Correlation With Market

Almost no diversification

The correlation between iShares Industrials ETF and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Industrials 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 Industrials 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 manufacturing.

Moving together with IShares Etf

  0.99XLI Industrial Select SectorPairCorr
  0.71DRVN Driven Brands HoldingsPairCorr
  0.96ITA iShares Aerospace Defense Low VolatilityPairCorr
  0.99VIS Vanguard IndustrialsPairCorr
  0.96JETS US Global JetsPairCorr
  0.98FXR First Trust IndustriPairCorr
  0.97PPA Invesco Aerospace DefensePairCorr
  0.84EGLE Global X FundsPairCorr
  0.96IYT iShares Transportation Potential GrowthPairCorr
  0.9BTCL T Rex 2XPairCorr
  0.9BITU ProShares TrustPairCorr
  0.89BTFX Valkyrie Bitcoin FuturesPairCorr
  0.89BITX Volatility Shares TrustPairCorr
  0.8MSTY YieldMax MSTR Option Downward RallyPairCorr
  0.94DFEN Direxion Daily AerospacePairCorr
  0.95CAT CaterpillarPairCorr
  0.65HD Home DepotPairCorr
  0.93MMM 3M CompanyPairCorr
  0.97AXP American ExpressPairCorr
  0.81PFE Pfizer IncPairCorr
  0.96BAC Bank of AmericaPairCorr
  0.97MSFT MicrosoftPairCorr
  0.92AA Alcoa CorpPairCorr
  0.75CVX Chevron CorpPairCorr
  0.96DIS Walt DisneyPairCorr
  0.9DD Dupont De NemoursPairCorr
  0.72INTC Intel Earnings Call This WeekPairCorr
  0.96BA BoeingPairCorr

Moving against IShares Etf

  0.89WTID UBS ETRACSPairCorr
  0.42PG Procter GamblePairCorr

Related Correlations Analysis

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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   
IYZ
+ 0.96
IYC
IYZ
+ 0.93
IYM
IYM
+ 0.9
IYC
IDU
+ 0.9
IYC
IYZ
+ 0.87
IDU
IDU
+ 0.82
IYM
  
High negative correlations   
IYK
- 0.01
IYC

IShares Industrials Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Industrials 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 Industrials' 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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