IShares Energy Correlations

Etfs . USA . 
Etf . iShares Energy ETF
IYE Etf  USD 50.27  0.01  0.02%   
The current 90-days correlation between iShares Energy ETF and SPDR SP Oil is 0.87 (i.e., Very poor diversification). The correlation of IShares Energy 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 Energy Correlation With Market

Very weak diversification

The correlation between iShares Energy ETF and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Energy ETF 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 Energy 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

  1.0XLE Energy Select Sector Sell-off TrendPairCorr
  1.0VDE Vanguard Energy IndexPairCorr
  0.97XOP SPDR SP OilPairCorr
  0.81OIH VanEck Oil ServicesPairCorr
  0.91IXC iShares Global EnergyPairCorr
  0.94FXN First Trust EnergyPairCorr
  1.0FENY Fidelity MSCI EnergyPairCorr
  0.98FTXN First Trust NasdaqPairCorr
  0.96IEO iShares Oil GasPairCorr
  0.69NVDL GraniteShares 15x LongPairCorr
  0.69NVDX T Rex 2XPairCorr
  0.69NVDU Direxion Daily NVDAPairCorr
  0.8BITX Volatility Shares Trust Upward RallyPairCorr
  0.78CONL GraniteShares ETF Trust Upward RallyPairCorr
  0.8CRPT First Trust SkyBridgePairCorr
  0.62USD ProShares Ultra SemiPairCorr
  0.78DAPP VanEck Digital TransPairCorr
  0.78DPST Direxion Daily RegionalPairCorr
  0.75INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.68CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.76HPQ HP IncPairCorr
  0.66HD Home Depot Sell-off TrendPairCorr
  0.84XOM Exxon Mobil Corp Sell-off TrendPairCorr
  0.83AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.7WMT Walmart Aggressive PushPairCorr
  0.8DIS Walt Disney Aggressive PushPairCorr

Moving against IShares Etf

  0.75PFE Pfizer Inc Aggressive PushPairCorr
  0.7KO Coca Cola Sell-off TrendPairCorr
  0.55BA Boeing Fiscal Year End 29th of January 2025 PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

IShares Energy Constituents Risk-Adjusted Indicators

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