IShares Financial Correlations

Etfs . USA . 
Etf . iShares Financial Services
IYG Etf  USD 80.47  1.00  1.26%   
The current 90-days correlation between iShares Financial and Vanguard Industrials Index is 0.78 (i.e., Poor diversification). The correlation of IShares Financial 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 Financial Correlation With Market

Very poor diversification

The correlation between iShares Financial Services and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Financial Services and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iShares Financial Services. 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

  1.0XLF Financial Select Sector Aggressive PushPairCorr
  1.0VFH Vanguard Financials IndexPairCorr
  0.97KRE SPDR SP RegionalPairCorr
  0.98KBE SPDR SP BankPairCorr
  1.0IYF iShares Financials ETFPairCorr
  1.0FNCL Fidelity MSCI FinancialsPairCorr
  0.99FXO First Trust FinancialsPairCorr
  0.99IAT iShares Regional BanksPairCorr
  0.62SPAQ Horizon Kinetics SPACPairCorr
  0.87PULS PGIM Ultra ShortPairCorr
  0.61MPAY Akros Monthly PayoutPairCorr
  0.9BUFF Innovator LadderedPairCorr
  0.88SPY SPDR SP 500PairCorr
  0.84PPA Invesco Aerospace DefensePairCorr
  0.77INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.76HPQ HP IncPairCorr
  0.64CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.83TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.69T ATT Inc Aggressive PushPairCorr
  0.82AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.89AXP American Express Fiscal Year End 24th of January 2025 PairCorr

Moving against IShares Etf

  0.94BITI ProShares TrustPairCorr
  0.66GREI Goldman Sachs FuturePairCorr
  0.86KO Coca Cola Aggressive PushPairCorr
  0.79PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr
  0.74JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.5PG 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   
VCR
+ 0.92
VIS
VAW
+ 0.78
VIS
VDC
+ 0.58
VHT
VAW
+ 0.57
VCR
  
High negative correlations   
VHT
- 0.72
VCR
VHT
- 0.62
VIS
VDC
- 0.3
VIS
VDC
- 0.26
VCR
VHT
- 0.21
VAW
VDC
- 0.08
VAW

IShares Financial Constituents Risk-Adjusted Indicators

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

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