IShares Technology Correlations

Etfs . USA . 
Etf . iShares Technology ETF
IYW Etf  USD 177.90  0.47  0.26%   
The current 90-days correlation between iShares Technology ETF and iShares Healthcare ETF is 0.33 (i.e., Weak diversification). The correlation of IShares Technology 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 Technology Correlation With Market

Poor diversification

The correlation between iShares Technology ETF 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 Technology ETF 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 Technology ETF. 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

  1.0VGT Vanguard InformationPairCorr
  1.0XLK Technology Select SectorPairCorr
  0.99SMH VanEck Semiconductor ETFPairCorr
  0.99SOXX iShares Semiconductor ETFPairCorr
  0.96CIBR First Trust NASDAQPairCorr
  1.0FTEC Fidelity MSCI InformationPairCorr
  0.97IGV iShares Expanded Tech Sell-off TrendPairCorr
  0.98FDN First Trust DowPairCorr
  1.0IGM iShares Expanded TechPairCorr
  0.98USD ProShares Ultra Semi Downward RallyPairCorr
  0.91GBTC Grayscale Bitcoin TrustPairCorr
  0.99FNGO MicroSectors FANG IndexPairCorr
  0.9BITO ProShares BitcoinPairCorr
  0.97CRPT First Trust SkyBridgePairCorr
  0.86NRGU Bank of MontrealPairCorr
  1.0BULZ MicroSectors SolactivePairCorr
  0.95BITS Global X BlockchainPairCorr
  0.99FNGG Direxion Daily SelectPairCorr
  0.97DFEN Direxion Daily AerospacePairCorr
  0.89DD Dupont De Nemours Earnings Call This WeekPairCorr
  0.9AA Alcoa CorpPairCorr
  0.98MSFT Microsoft Earnings Call This WeekPairCorr
  0.96DIS Walt DisneyPairCorr
  0.98JPM JPMorgan ChasePairCorr
  0.94BA Boeing Earnings Call This WeekPairCorr
  0.9MMM 3M CompanyPairCorr
  0.84CVX Chevron CorpPairCorr
  0.98CSCO Cisco Systems Sell-off TrendPairCorr

Moving against IShares Etf

  0.7MCD McDonaldsPairCorr
  0.61KO Coca ColaPairCorr
  0.51PG Procter Gamble Earnings Call This WeekPairCorr
  0.33VZ Verizon Communications Aggressive PushPairCorr

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   
IYC
+ 0.99
IYJ
IYZ
+ 0.98
IYF
IYJ
+ 0.98
IYZ
IYJ
+ 0.97
IYF
IYC
+ 0.97
IYF
IYC
+ 0.97
IYZ
  
High negative correlations   
IYC
- 0.17
IYH
IYJ
- 0.14
IYH
IYZ
- 0.1
IYH
IYF
- 0.08
IYH

IShares Technology Constituents Risk-Adjusted Indicators

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