IShares Copper Correlations

ICOP Etf

28.55 0.32 1.13%

The current 90-days correlation between iShares Copper and First Trust Exchange Traded is 0.53 (i.e., Very weak diversification). The correlation of IShares Copper 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 Copper Correlation With Market

Modest diversification

The correlation between iShares Copper and and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Copper and 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 Copper and. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with IShares Etf

0.76	EV	Mast Global Battery	Pair Corr
0.87	XLB	Materials Select Sector	Pair Corr
0.71	VAW	Vanguard Materials Index	Pair Corr
0.68	MOO	VanEck Agribusiness ETF	Pair Corr
0.87	FXZ	First Trust Materials	Pair Corr
0.63	URNM	Sprott Uranium Miners	Pair Corr
0.88	IYM	iShares Basic Materials	Pair Corr
0.69	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr

Moving against IShares Etf

0.35	PG	Procter Gamble Sell-off Trend	Pair Corr
0.31	JPM	JPMorgan Chase Sell-off Trend	Pair Corr

Related Correlations Analysis

	MDEV	MDST	MEDX	MEDI	MGNR	MISL	DPST	DRIP	DRLL
MDEV		-0.47	0.65	0.85	-0.08	0.21	-0.56	0.28	-0.27	MDEV
MDST	-0.47		-0.89	-0.62	0.82	0.54	0.92	-0.85	0.85	MDST
MEDX	0.65	-0.89		0.83	-0.7	-0.31	-0.79	0.67	-0.7	MEDX
MEDI	0.85	-0.62	0.83		-0.29	-0.03	-0.59	0.39	-0.43	MEDI
MGNR	-0.08	0.82	-0.7	-0.29		0.7	0.7	-0.78	0.79	MGNR
MISL	0.21	0.54	-0.31	-0.03	0.7		0.52	-0.56	0.58	MISL
DPST	-0.56	0.92	-0.79	-0.59	0.7	0.52		-0.77	0.75	DPST
DRIP	0.28	-0.85	0.67	0.39	-0.78	-0.56	-0.77		-0.99	DRIP
DRLL	-0.27	0.85	-0.7	-0.43	0.79	0.58	0.75	-0.99		DRLL
	MDEV	MDST	MEDX	MEDI	MGNR	MISL	DPST	DRIP	DRLL

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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

DPST	+ 0.92	MDST
MEDI	+ 0.85	MDEV
DRLL	+ 0.85	MDST
MEDI	+ 0.83	MEDX
MGNR	+ 0.82	MDST
DRLL	+ 0.79	MGNR

High negative correlations

DRLL	- 0.99	DRIP
MEDX	- 0.89	MDST
DRIP	- 0.85	MDST
DPST	- 0.79	MEDX
DRIP	- 0.78	MGNR
DRIP	- 0.77	DPST

IShares Copper Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Copper 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 Copper'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
MDEV	0.58	(0.07)	(0.19)	0.00	0.65	(0.62)	1.32	(1.04)	2.88
MDST	0.67	0.12	0.09	0.37	0.49	(0.77)	1.59	(0.91)	4.02
MEDX	0.66	(0.26)	0.00	(0.31)	0.00	0.00	1.16	(1.65)	4.42
MEDI	0.82	(0.12)	0.00	(0.05)	0.00	0.00	1.55	(1.69)	5.09
MGNR	0.99	0.08	0.04	0.24	1.19	(1.11)	2.34	(1.79)	5.83
MISL	0.84	(0.07)	(0.05)	0.06	1.38	(0.84)	1.70	(1.89)	8.21
DPST	4.11	(0.03)	0.16	0.12	3.88	(5.02)	8.64	(5.98)	51.17
DRIP	2.39	0.07	0.00	0.09	0.00	0.00	5.12	(4.18)	18.28
DRLL	0.92	(0.02)	(0.04)	0.11	1.32	(0.87)	1.86	(2.04)	5.72

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