IShares Consumer Correlations

Etfs . USA . 
Etf . iShares Consumer Staples
IYK Etf  USD 66.03  0.29  0.44%   
The current 90-days correlation between iShares Consumer Staples and iShares Industrials ETF is 0.25 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Consumer moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Consumer Staples moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Consumer Correlation With Market

Weak diversification

The correlation between iShares Consumer Staples and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Consumer Staples 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 Consumer Staples. 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

  0.82XLP Consumer Staples SelectPairCorr
  0.77KXI iShares Global ConsumerPairCorr
  0.78FTXG First Trust NasdaqPairCorr
  0.81RHS Invesco SP 500PairCorr
  0.65FXG First Trust ConsumerPairCorr

Moving against IShares Etf

  0.49RSPY Tuttle Capital ManagementPairCorr
  0.49MEME Roundhill InvestmentsPairCorr
  0.47DSJA DSJAPairCorr
  0.54EFU ProShares UltraShort MSCIPairCorr
  0.48AMZU Direxion Daily AMZNPairCorr
  0.48VIRS Pacer FinancialPairCorr
  0.47SOFR SOFR Symbol ChangePairCorr
  0.46SPCZ Listed Funds TrustPairCorr
  0.43PGRO Putnam Focused LargePairCorr
  0.38JANW AIM ETF ProductsPairCorr
  0.35ARKQ ARK Autonomous TechnologyPairCorr
  0.33APRJ Innovator Premium IncomePairCorr
  0.32AIPI REX AI EquityPairCorr
  0.57RINF ProShares InflationPairCorr
  0.51TSLP Kurv Yield PremiumPairCorr
  0.49BSCO Invesco BulletShares 2024PairCorr
  0.46JBBB Janus Detroit StreetPairCorr
  0.43BULZ MicroSectors SolactivePairCorr
  0.42FELG Fidelity Covington TrustPairCorr
  0.4QJUN First Trust ExchangePairCorr
  0.38BUFQ FT Cboe VestPairCorr

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
+ 0.92
IYC
IYZ
+ 0.89
IYJ
IYJ
+ 0.74
IYC
IYM
+ 0.66
IDU
IDU
+ 0.32
IYJ
IYZ
+ 0.04
IDU
  
High negative correlations   
IYM
- 0.68
IYC
IYZ
- 0.48
IYM
IDU
- 0.17
IYC
IYM
- 0.13
IYJ

IShares Consumer Constituents Risk-Adjusted Indicators

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