IShares Agency Correlations

AGZ Etf

USD 108.97 0.01 0.01%

The current 90-days correlation between iShares Agency Bond and iShares Intermediate GovernmentCredit is 0.07 (i.e., Significant diversification). The correlation of IShares Agency 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 Agency Correlation With Market

Significant diversification

The correlation between iShares Agency Bond and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Agency Bond and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in iShares Agency Bond. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with IShares Etf

0.99	SHY	iShares 1 3	Pair Corr
0.98	LMBS	First Trust Low	Pair Corr
0.9	SPTS	SPDR Barclays Short	Pair Corr
0.97	FTSD	Franklin Liberty Short	Pair Corr
0.98	UTWO	Rbb Fund	Pair Corr
0.99	XTWO	Bondbloxx ETF Trust	Pair Corr
0.91	XTRE	Bondbloxx ETF Trust	Pair Corr
0.94	FXY	Invesco CurrencyShares	Pair Corr
0.91	PMBS	PIMCO Mortgage Backed	Pair Corr
0.68	DEM	WisdomTree Emerging	Pair Corr
0.72	BOIL	ProShares Ultra Bloomberg	Pair Corr
0.88	TOTR	T Rowe Price	Pair Corr
0.74	GHTA	Collaborative Investment	Pair Corr
0.88	LBAY	Tidal ETF Trust	Pair Corr
0.8	CAAA	First Trust Exchange	Pair Corr
0.67	PSQ	ProShares Short QQQ	Pair Corr
0.78	AIVI	WisdomTree International	Pair Corr
0.78	INTL	Main International ETF Low Volatility	Pair Corr
0.88	UBND	Victory Portfolios	Pair Corr
0.98	SCHO	Schwab Short Term	Pair Corr
0.83	YINN	Direxion Daily FTSE	Pair Corr
0.9	APCB	Trust For Professional	Pair Corr
0.69	AMPS	Altus Power	Pair Corr
0.85	BSCP	Invesco BulletShares 2025	Pair Corr
0.88	HCRB	Hartford Core Bond	Pair Corr
0.85	GSEU	Goldman Sachs ActiveBeta	Pair Corr

Moving against IShares Etf

0.9

WGMI

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Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.14	0.66	-0.48	0.43	0.36	0.16	0.89	-0.77	0.14	META
MSFT	-0.14		-0.64	0.31	-0.77	0.65	0.89	0.0	0.49	-0.33	MSFT
UBER	0.66	-0.64		-0.48	0.8	-0.23	-0.55	0.58	-0.86	0.46	UBER
F	-0.48	0.31	-0.48		-0.2	0.12	0.15	-0.38	0.62	0.23	F
T	0.43	-0.77	0.8	-0.2		-0.54	-0.68	0.25	-0.68	0.48	T
A	0.36	0.65	-0.23	0.12	-0.54		0.75	0.58	0.12	-0.11	A
CRM	0.16	0.89	-0.55	0.15	-0.68	0.75		0.24	0.3	-0.38	CRM
JPM	0.89	0.0	0.58	-0.38	0.25	0.58	0.24		-0.65	0.16	JPM
MRK	-0.77	0.49	-0.86	0.62	-0.68	0.12	0.3	-0.65		-0.31	MRK
XOM	0.14	-0.33	0.46	0.23	0.48	-0.11	-0.38	0.16	-0.31		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.89	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.75	A
UBER	+ 0.66	META
A	+ 0.65	MSFT

High negative correlations

MRK	- 0.86	UBER
T	- 0.77	MSFT
MRK	- 0.77	META
MRK	- 0.68	T
CRM	- 0.68	T
MRK	- 0.65	JPM

IShares Agency Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Agency 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 Agency'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	1.61	0.01	0.00	(0.08)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.11	(0.15)	0.00	(0.32)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.94	0.22	0.10	0.31	2.41	(2.00)	4.72	(3.30)	12.75
F	1.44	0.07	0.00	(0.03)	0.00	0.00	2.71	(2.89)	10.14
T	1.05	0.26	0.17	0.38	1.59	(1.13)	1.90	(1.75)	11.66
A	1.13	(0.12)	0.00	(0.22)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.42	(0.23)	0.00	(0.30)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.09	0.06	0.00	(0.04)	0.00	0.00	1.99	(3.35)	6.85
MRK	1.17	(0.07)	0.00	1.31	0.00	0.00	2.07	(1.80)	11.58
XOM	1.05	0.07	0.09	0.06	1.38	(1.09)	2.55	(2.36)	5.89

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