IShares Transportation Correlations

IYT Etf

USD 70.65 0.37 0.53%

The current 90-days correlation between iShares Transportation and Ultimus Managers Trust is 0.61 (i.e., Poor diversification). The correlation of IShares Transportation 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. If the correlation is 0, the equities are not correlated; they are entirely random.

IShares Transportation Correlation With Market

Very poor diversification

The correlation between iShares Transportation Average and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Transportation Average 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 Transportation Average. 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

0.96	XLI	Industrial Select Sector	Pair Corr
0.84	DRVN	Driven Brands Holdings	Pair Corr
0.9	ITA	iShares Aerospace Defense	Pair Corr
0.96	VIS	Vanguard Industrials	Pair Corr
0.96	JETS	US Global Jets	Pair Corr
0.99	FXR	First Trust Industri	Pair Corr
0.91	PPA	Invesco Aerospace Defense	Pair Corr
0.97	IYJ	iShares Industrials ETF Low Volatility	Pair Corr
0.93	SIXD	AIM ETF Products	Pair Corr
0.79	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.93	CEFD	ETRACS Monthly Pay	Pair Corr
0.83	ESGS	Columbia Sustainable	Pair Corr
0.94	DHSB	Strategy Shares	Pair Corr
0.89	EMPB	Efficient Market Por	Pair Corr
0.91	XB	BondBloxx ETF Trust	Pair Corr
0.92	COLO	Global X Funds Symbol Change	Pair Corr
0.89	BTFD	Valkyrie Bitcoin Strategy	Pair Corr
0.91	PHB	Invesco Fundamental High	Pair Corr

Moving against IShares Etf

0.94	VXX	iPath Series B	Pair Corr
0.94	VIXY	ProShares VIX Short	Pair Corr
0.44	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.39	YCL	ProShares Ultra Yen	Pair Corr

Related Correlations Analysis

	MDEV	MDST	MEDX	MEDI	MGNR	MISL	DPST	DRIP	DRLL
MDEV		0.84	0.71	0.65	0.87	0.84	0.9	-0.88	0.68	MDEV
MDST	0.84		0.76	0.62	0.84	0.74	0.79	-0.89	0.83	MDST
MEDX	0.71	0.76		0.85	0.68	0.59	0.61	-0.66	0.7	MEDX
MEDI	0.65	0.62	0.85		0.76	0.7	0.49	-0.61	0.49	MEDI
MGNR	0.87	0.84	0.68	0.76		0.96	0.78	-0.94	0.68	MGNR
MISL	0.84	0.74	0.59	0.7	0.96		0.76	-0.87	0.55	MISL
DPST	0.9	0.79	0.61	0.49	0.78	0.76		-0.83	0.73	DPST
DRIP	-0.88	-0.89	-0.66	-0.61	-0.94	-0.87	-0.83		-0.85	DRIP
DRLL	0.68	0.83	0.7	0.49	0.68	0.55	0.73	-0.85		DRLL
	MDEV	MDST	MEDX	MEDI	MGNR	MISL	DPST	DRIP	DRLL

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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

MISL	+ 0.96	MGNR
DPST	+ 0.9	MDEV
MGNR	+ 0.87	MDEV
MEDI	+ 0.85	MEDX
MDST	+ 0.84	MDEV
MISL	+ 0.84	MDEV

High negative correlations

DRIP	- 0.94	MGNR
DRIP	- 0.89	MDST
DRIP	- 0.88	MDEV
DRIP	- 0.87	MISL
DRLL	- 0.85	DRIP
DRIP	- 0.83	DPST

IShares Transportation Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Transportation 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 Transportation'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
MDEV	1.00	(0.06)	(0.04)	0.04	1.56	(1.02)	2.04	(2.56)	11.39
MDST	1.03	(0.09)	0.00	(0.01)	0.00	0.00	2.08	(2.04)	10.68
MEDX	1.30	(0.08)	(0.05)	(0.01)	2.09	(1.19)	2.86	(3.25)	7.98
MEDI	1.34	0.00	(0.01)	0.10	1.91	(1.32)	2.36	(2.99)	10.35
MGNR	1.24	0.10	0.04	0.19	2.11	(1.28)	2.26	(2.44)	14.25
MISL	1.02	0.23	0.11	0.35	1.64	(1.07)	2.08	(1.96)	10.79
DPST	4.58	0.18	0.06	0.15	7.19	(5.11)	9.48	(10.41)	41.06
DRIP	3.76	0.26	0.00	0.01	0.00	0.00	7.98	(6.39)	43.85
DRLL	1.54	(0.17)	0.00	(0.05)	0.00	0.00	2.54	(2.81)	15.55

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