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 -0.02 (i.e., Good 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 0.7 (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.
Moving together with IShares Etf
0.89 | VGT | Vanguard Information | PairCorr |
0.89 | XLK | Technology Select Sector | PairCorr |
0.89 | IYW | iShares Technology ETF | PairCorr |
0.99 | SMH | VanEck Semiconductor ETF | PairCorr |
0.89 | SOXX | iShares Semiconductor ETF Potential Growth | PairCorr |
0.79 | CIBR | First Trust NASDAQ | PairCorr |
0.89 | FTEC | Fidelity MSCI Information | PairCorr |
0.85 | IGV | iShares Expanded Tech | PairCorr |
0.86 | FDN | First Trust Dow | PairCorr |
0.89 | IGM | iShares Expanded Tech | PairCorr |
0.78 | PFFL | ETRACS 2xMonthly Pay | PairCorr |
0.89 | ITDD | iShares Trust | PairCorr |
0.65 | PMBS | PIMCO Mortgage Backed | PairCorr |
0.61 | CAT | Caterpillar | PairCorr |
0.66 | CVX | Chevron Corp Earnings Call This Week | PairCorr |
Moving against IShares Etf
0.57 | MCD | McDonalds | PairCorr |
0.49 | TRV | The Travelers Companies | PairCorr |
0.4 | VZ | Verizon Communications Aggressive Push | PairCorr |
0.31 | HPQ | HP Inc | PairCorr |
Related Correlations Analysis
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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 | 0.50 | 0.32 | (4.53) | 0.00 | 2.61 | 5.76 | |||
IETC | 0.77 | 0.36 | 0.16 | 24.60 | 0.26 | 2.23 | 6.05 | |||
IDNA | 1.28 | 0.24 | (0.06) | (0.27) | 1.69 | 2.44 | 8.07 | |||
AIQ | 0.76 | 0.34 | 0.11 | (2.48) | 0.19 | 2.08 | 5.58 | |||
ROBT | 0.88 | 0.08 | 0.12 | 0.30 | 0.59 | 2.44 | 6.01 |