Market Research Data

SHY Correlation & Overlap

Fund Strategy Analysis

iShares 1-3 Year Treasury Bond ETF (SHY) is a key instrument in the Short Term Bond category. Data regarding SHY is frequently analyzed by investors planning tax loss harvesting strategies, specifically those seeking to maintain Short Term Bond exposure while navigating IRS wash sale regulations.

Note: This page summarizes historical similarity metrics and does not assess tax treatment or regulatory outcomes.

Top Correlated ETFs

Short Term Bond
VGSH
CORR ≥ 0.99*
>0.99
Correlation
VGSH shows a high degree of historical similarity with SHY. With an estimated overlap of 90%, this pair is often analyzed in discussions regarding "substantially identical" securities.
Overlap: ~90%
Yahoo Finance ↗VGSH Data Coming Soon
SCHO
CORR ≥ 0.99*
>0.99
Correlation
With approximately 90% overlap in holdings, SCHO and SHY exhibit highly synchronized price behavior. This structural similarity is a key data point for tax-loss harvesting research.
Overlap: ~90%
Yahoo Finance ↗SCHO Data Coming Soon

Note on Overlap: Estimates are based on the most recent publicly disclosed holdings. Leveraged/Inverse products often use swaps resulting in low physical overlap despite high correlation.

Benchmark Similarity: ETFs tracking similar broad-market or sector-specific benchmarks often exhibit extremely high correlation. Investors typically review additional factors such as index methodology when evaluating similarity.

* Correlation calculated using 2-year daily price returns.

Wash Sale Re-Entry Date (Reference Tool)

If you sold SHY at a loss, U.S. wash sale rules generally restrict repurchasing the same or a substantially identical security within 30 days.

*For informational purposes only. Consult a tax professional regarding IRC §1091. This tool calculates the 31st day following a sale.

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What is Correlation?

Correlation measures the historical relationship between two assets. A value of 1.00 (100%) means they move perfectly in sync. For tax loss harvesting, high correlation is generally desired to stay in the market while realizing a loss.

Index Methodology

Under the wash sale rule, "substantially identical" assets are disallowed for loss claims. Many investors argue that ETFs tracking different indices (e.g., S&P 500 vs. Russell 1000) are not substantially identical.

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