IShares Basic Correlations

IYM Etf

USD 144.58 0.65 0.45%

The current 90-days correlation between iShares Basic Materials and iShares Industrials ETF is 0.76 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Basic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Basic Materials moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Basic Correlation With Market

Poor diversification

The correlation between iShares Basic Materials and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Basic Materials 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 Basic Materials. 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

0.98	XLB	Materials Select Sector	Pair Corr
0.98	VAW	Vanguard Materials Index	Pair Corr
0.97	XME	SPDR SP Metals	Pair Corr
0.94	PHO	Invesco Water Resources	Pair Corr
0.9	MOO	VanEck Agribusiness ETF	Pair Corr
0.99	FXZ	First Trust Materials	Pair Corr
0.93	FIW	First Trust Water	Pair Corr
0.92	URNM	Sprott Uranium Miners	Pair Corr
0.83	BTCL	T Rex 2X	Pair Corr
0.83	BITU	ProShares Trust	Pair Corr
0.85	BTFX	Valkyrie Bitcoin Futures	Pair Corr
0.83	BITX	Volatility Shares Trust	Pair Corr
0.75	MSTY	YieldMax MSTR Option Downward Rally	Pair Corr
0.96	DFEN	Direxion Daily Aerospace	Pair Corr
0.87	NFLX	Netflix Downward Rally	Pair Corr
0.74	KGRN	KraneShares MSCI China	Pair Corr
0.74	KWEB	KraneShares CSI China Aggressive Push	Pair Corr
0.93	QTOC	Innovator ETFs Trust	Pair Corr
0.96	MYMF	SPDR SSGA My2026	Pair Corr
0.88	PFUT	Putnam Sustainable Future	Pair Corr
0.96	SRLN	SPDR Blackstone Senior	Pair Corr
0.77	EUSB	iShares Trust	Pair Corr
0.81	VBF	Invesco Van Kampen	Pair Corr
0.96	BUFD	FT Cboe Vest	Pair Corr
0.92	SPIB	SPDR Barclays Interm	Pair Corr
0.82	HIDE	Alpha Architect High	Pair Corr
0.93	VABS	Virtus Newfleet ABSMBS	Pair Corr
0.95	CGGO	Capital Group Global	Pair Corr

Moving against IShares Etf

0.86	WTID	UBS ETRACS	Pair Corr
0.62	EV	NEOS Investment Mana	Pair Corr

Related Correlations Analysis

	IYJ	IYC	IYK	IYZ	IDU
IYJ		0.99	0.03	0.98	0.9	IYJ
IYC	0.99		-0.01	0.97	0.9	IYC
IYK	0.03	-0.01		0.06	0.23	IYK
IYZ	0.98	0.97	0.06		0.9	IYZ
IDU	0.9	0.9	0.23	0.9		IDU
	IYJ	IYC	IYK	IYZ	IDU

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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

IYC	+ 0.99	IYJ
IYZ	+ 0.98	IYJ
IYZ	+ 0.97	IYC
IDU	+ 0.9	IYJ
IDU	+ 0.9	IYC
IDU	+ 0.9	IYZ

High negative correlations

IYK

- 0.01

IYC

IShares Basic Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Basic 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 Basic'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
IYJ	0.74	0.10	0.10	0.23	0.67	(0.82)	1.83	(1.45)	5.37
IYC	0.81	0.11	0.10	0.24	0.68	(0.85)	2.01	(1.30)	5.79
IYK	0.60	(0.07)	0.00	(0.07)	0.00	0.00	0.99	(1.07)	3.92
IYZ	0.70	0.12	0.09	0.30	0.65	(0.80)	1.54	(1.26)	3.45
IDU	0.68	0.04	(0.03)	0.22	0.86	(0.65)	1.38	(1.45)	4.24

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