IShares BBB Correlations

LQDB Etf

USD 85.81 0.40 0.46%

The current 90-days correlation between iShares BBB Rated and iShares BB Rated is 0.8 (i.e., Very poor diversification). The correlation of IShares BBB 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 BBB Correlation With Market

Very good diversification

The correlation between iShares BBB Rated and DJI is -0.5 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares BBB Rated and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IShares Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in iShares BBB Rated. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with IShares Etf

0.92	LQD	iShares iBoxx Investment Sell-off Trend	Pair Corr
0.99	IGIB	iShares 5 10	Pair Corr
1.0	USIG	iShares Broad USD	Pair Corr
0.95	SPIB	SPDR Barclays Interm	Pair Corr
1.0	SUSC	iShares ESG USD	Pair Corr
0.91	QLTA	iShares Aaa	Pair Corr
0.99	CORP	PIMCO Investment Grade	Pair Corr
0.99	FLCO	Franklin Liberty Inv	Pair Corr
0.99	GIGB	Goldman Sachs Access	Pair Corr
0.92	VTC	Vanguard Total Corporate	Pair Corr
0.71	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.88	USD	ProShares Ultra Semi	Pair Corr
0.88	TECL	Direxion Daily Technology	Pair Corr
0.87	ROM	ProShares Ultra Tech	Pair Corr
0.84	QLD	ProShares Ultra QQQ	Pair Corr
0.88	SMH	VanEck Semiconductor ETF	Pair Corr
0.88	SOXX	iShares Semiconductor ETF	Pair Corr
0.86	SPXL	Direxion Daily SP500	Pair Corr
0.86	UPRO	ProShares UltraPro SP500	Pair Corr
0.94	EUSB	iShares Trust	Pair Corr
0.73	MMM	3M Company Earnings Call This Week	Pair Corr
0.8	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.64	INTC	Intel Aggressive Push	Pair Corr
0.88	JPM	JPMorgan Chase Earnings Call Today	Pair Corr
0.79	AA	Alcoa Corp Earnings Call Tomorrow	Pair Corr
0.88	CSCO	Cisco Systems	Pair Corr
0.87	IBM	International Business	Pair Corr
0.71	T	ATT Inc	Pair Corr
0.81	CVX	Chevron Corp	Pair Corr
0.76	DD	Dupont De Nemours	Pair Corr
0.89	CAT	Caterpillar Sell-off Trend	Pair Corr

Moving against IShares Etf

0.7	MCD	McDonalds	Pair Corr
0.48	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.81	0.66	0.95	0.41	0.95	0.2	0.58	META
MSFT	0.98		0.89	0.86	0.7	0.93	0.46	0.96	0.19	0.59	MSFT
UBER	0.84	0.89		0.92	0.61	0.85	0.65	0.91	0.17	0.58	UBER
F	0.81	0.86	0.92		0.59	0.85	0.43	0.9	0.31	0.74	F
T	0.66	0.7	0.61	0.59		0.66	0.26	0.7	0.29	0.37	T
A	0.95	0.93	0.85	0.85	0.66		0.36	0.94	0.36	0.67	A
CRM	0.41	0.46	0.65	0.43	0.26	0.36		0.42	-0.18	0.08	CRM
JPM	0.95	0.96	0.91	0.9	0.7	0.94	0.42		0.26	0.67	JPM
MRK	0.2	0.19	0.17	0.31	0.29	0.36	-0.18	0.26		0.49	MRK
XOM	0.58	0.59	0.58	0.74	0.37	0.67	0.08	0.67	0.49		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

MSFT	+ 0.98	META
JPM	+ 0.96	MSFT
A	+ 0.95	META
JPM	+ 0.95	META
JPM	+ 0.94	A
A	+ 0.93	MSFT

High negative correlations

MRK

- 0.18

CRM

IShares BBB Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares BBB 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 BBB'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
META	1.86	0.14	0.15	0.34	1.48	(2.23)	4.23	(2.56)	21.50
MSFT	1.12	0.27	0.25	0.50	0.50	(1.34)	2.40	(1.22)	13.79
UBER	1.83	0.27	0.20	0.47	1.34	(2.40)	5.87	(2.54)	16.18
F	1.56	0.55	0.07	(0.68)	1.80	(1.76)	3.70	(2.72)	13.07
T	1.06	0.03	(0.12)	0.38	1.36	(1.08)	2.35	(2.35)	5.71
A	1.59	(0.02)	0.03	0.24	1.77	(1.75)	2.76	(2.89)	14.46
CRM	1.48	(0.20)	(0.07)	0.09	1.75	(1.56)	3.01	(3.30)	13.13
JPM	1.11	0.20	0.15	0.45	0.74	(1.26)	2.75	(1.51)	11.20
MRK	1.45	(0.08)	(0.06)	0.15	2.02	(1.41)	3.35	(4.13)	10.58
XOM	1.26	0.27	(0.03)	(0.61)	1.58	(1.28)	2.77	(2.58)	10.53

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