IShares Convertible Correlations
| ICVT Etf | USD 76.13 0.38 0.50% |
The correlation of IShares Convertible 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Convertible moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Convertible Bond moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Poor diversification
The correlation between iShares Convertible Bond and NYA 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 Convertible Bond and NYA in the same portfolio, assuming nothing else is changed.
IShares |
The ability to find closely correlated positions to IShares Convertible could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IShares Convertible when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back IShares Convertible - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling iShares Convertible Bond to buy it.
Moving together with IShares Etf
| 0.96 | FCVT | First Trust SSI | PairCorr |
| 0.89 | QCON | American Century Quality | PairCorr |
| 0.73 | USD | ProShares Ultra Semi | PairCorr |
| 0.72 | BULZ | MicroSectors Solactive | PairCorr |
| 0.65 | FNGO | MicroSectors FANG Index | PairCorr |
| 0.64 | FNGG | Direxion Daily Select | PairCorr |
| 0.81 | NAIL | Direxion Daily Homeb | PairCorr |
| 0.8 | SPLG | SPDR Portfolio SP | PairCorr |
| 0.75 | GSPY | Gotham Enhanced 500 | PairCorr |
| 0.81 | VTI | Vanguard Total Stock | PairCorr |
| 0.81 | ITOT | iShares Core SP | PairCorr |
| 0.76 | SCHX | Schwab Large Cap | PairCorr |
| 0.76 | SPY | SPDR SP 500 | PairCorr |
| 0.75 | JPM | JPMorgan Chase Financial Report 12th of July 2024 | PairCorr |
Moving against IShares Etf
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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IShares Convertible Constituents Risk-Adjusted Indicators
There is a big difference between IShares Etf performing well and IShares Convertible 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 Convertible'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| META | 1.76 | 0.34 | 0.21 | 0.33 | 1.44 | 3.27 | 24.74 | |||
| MSFT | 0.95 | (0.04) | (0.03) | 0.04 | 1.08 | 2.11 | 5.31 | |||
| UBER | 1.63 | 0.01 | 0.05 | 0.08 | 1.61 | 2.83 | 18.39 | |||
| F | 1.57 | 0.00 | 0.04 | 0.08 | 1.78 | 4.07 | 9.61 | |||
| T | 0.93 | 0.00 | (0.04) | 0.07 | 1.15 | 2.18 | 5.92 | |||
| A | 1.18 | (0.05) | (0.01) | 0.04 | 1.42 | 2.26 | 6.31 | |||
| CRM | 1.24 | (0.11) | (0.04) | 0.00 | 1.96 | 2.83 | 10.84 | |||
| JPM | 0.80 | 0.07 | 0.06 | 0.14 | 1.31 | 1.94 | 8.65 | |||
| MRK | 0.64 | 0.04 | 0.03 | 0.12 | 0.66 | 1.18 | 6.92 | |||
| XOM | 0.80 | 0.30 | 0.30 | 0.72 | 0.45 | 1.96 | 4.66 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in IShares Convertible without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Already Invested in iShares Convertible Bond?
The danger of trading iShares Convertible Bond is mainly related to its market volatility and ETF specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of IShares Convertible is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than IShares Convertible. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile iShares Convertible Bond is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether iShares Convertible Bond is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if IShares Etf is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Ishares Convertible Bond Etf. Highlighted below are key reports to facilitate an investment decision about Ishares Convertible Bond Etf: Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iShares Convertible Bond. Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in real. You can also try the Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
The market value of iShares Convertible Bond is measured differently than its book value, which is the value of IShares that is recorded on the company's balance sheet. Investors also form their own opinion of IShares Convertible's value that differs from its market value or its book value, called intrinsic value, which is IShares Convertible's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because IShares Convertible's market value can be influenced by many factors that don't directly affect IShares Convertible's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between IShares Convertible's value and its price as these two are different measures arrived at by different means. Investors typically determine if IShares Convertible is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, IShares Convertible's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.