IShares Tech Correlations

TECB Etf

USD 58.21 0.18 0.31%

The current 90-days correlation between iShares Tech Breakthrough and Roundhill Ball Metaverse is 0.8 (i.e., Very poor diversification). The correlation of IShares Tech 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 Tech Correlation With Market

Poor diversification

The correlation between iShares Tech Breakthrough and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Tech Breakthrough and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IShares Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in iShares Tech Breakthrough. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with IShares Etf

1.0	VGT	Vanguard Information	Pair Corr
1.0	XLK	Technology Select Sector	Pair Corr
1.0	IYW	iShares Technology ETF	Pair Corr
0.99	SMH	VanEck Semiconductor ETF	Pair Corr
0.99	SOXX	iShares Semiconductor ETF Potential Growth	Pair Corr
0.94	CIBR	First Trust NASDAQ	Pair Corr
1.0	FTEC	Fidelity MSCI Information	Pair Corr
0.99	IGV	iShares Expanded Tech	Pair Corr
0.99	FDN	First Trust Dow	Pair Corr
1.0	IGM	iShares Expanded Tech	Pair Corr
0.97	DHF	BNY Mellon High	Pair Corr
0.9	ARP	Advisors Inner Circle	Pair Corr
0.93	PXMV	Invesco SP MidCap	Pair Corr
1.0	SEMI	Columbia Seligman	Pair Corr
0.72	GRW	TCW Compounders ETF	Pair Corr
0.66	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.63	IBM	International Business	Pair Corr
0.61	BAC	Bank of America Aggressive Push	Pair Corr
0.62	CSCO	Cisco Systems	Pair Corr

Moving against IShares Etf

0.31

Verizon Communications Aggressive Push

Pair Corr

Related Correlations Analysis

	METV	IETC	IDNA	AIQ	ROBT
METV		0.98	0.67	0.98	0.98	METV
IETC	0.98		0.62	1.0	0.98	IETC
IDNA	0.67	0.62		0.61	0.66	IDNA
AIQ	0.98	1.0	0.61		0.98	AIQ
ROBT	0.98	0.98	0.66	0.98		ROBT
	METV	IETC	IDNA	AIQ	ROBT

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IShares Tech Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Tech 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 Tech'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
METV	0.87	0.33	0.32	0.78	0.00	(1.15)	2.61	(1.12)	5.76
IETC	0.77	0.19	0.16	0.50	0.25	(0.97)	2.23	(1.12)	6.05
IDNA	1.30	(0.08)	(0.04)	0.16	1.71	(1.31)	2.44	(2.08)	8.07
AIQ	0.76	0.15	0.11	0.45	0.19	(0.94)	2.08	(1.05)	5.58
ROBT	0.88	0.14	0.10	0.39	0.64	(1.06)	2.44	(1.34)	6.01

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