IShares Agency Correlations

AGZ Etf

USD 108.28 0.12 0.11%

The current 90-days correlation between iShares Agency Bond and FlexShares Ready Access is 0.57 (i.e., Very weak 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

Good diversification

The correlation between iShares Agency Bond and DJI is -0.12 (i.e., Good 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

0.87	SHY	iShares 1 3 Sell-off Trend	Pair Corr
0.89	LMBS	First Trust Low	Pair Corr
0.87	SPTS	SPDR Barclays Short Sell-off Trend	Pair Corr
0.92	UTWO	Rbb Fund	Pair Corr
0.91	XTWO	Bondbloxx ETF Trust	Pair Corr
0.99	XTRE	Bondbloxx ETF Trust	Pair Corr
0.84	KO	Coca Cola Aggressive Push	Pair Corr
0.65	VZ	Verizon Communications Aggressive Push	Pair Corr

Moving against IShares Etf

0.72	USD	ProShares Ultra Semi Potential Growth	Pair Corr
0.71	FNGU	MicroSectors FANG Index Sell-off Trend	Pair Corr
0.71	CSCO	Cisco Systems	Pair Corr
0.7	FNGO	MicroSectors FANG Index	Pair Corr
0.7	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.69	FNGS	MicroSectors FANG ETN	Pair Corr
0.63	QLD	ProShares Ultra QQQ	Pair Corr
0.59	ROM	ProShares Ultra Tech	Pair Corr
0.58	TECL	Direxion Daily Technology	Pair Corr
0.51	SMH	VanEck Semiconductor ETF	Pair Corr
0.85	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.76	BAC	Bank of America Aggressive Push	Pair Corr
0.65	HPQ	HP Inc	Pair Corr
0.57	DIS	Walt Disney Aggressive Push	Pair Corr
0.54	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.5	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.49	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.44	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.38	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.27	0.58	-0.01	0.64	0.02	0.73	0.31	-0.58	0.74	META
MSFT	0.27		0.22	0.12	0.18	-0.03	0.04	-0.16	0.1	-0.18	MSFT
UBER	0.58	0.22		0.0	0.09	0.23	0.12	-0.03	-0.01	0.42	UBER
F	-0.01	0.12	0.0		-0.03	-0.36	0.33	0.61	-0.22	0.27	F
T	0.64	0.18	0.09	-0.03		-0.44	0.7	0.43	-0.73	0.38	T
A	0.02	-0.03	0.23	-0.36	-0.44		-0.45	-0.64	0.62	0.02	A
CRM	0.73	0.04	0.12	0.33	0.7	-0.45		0.8	-0.92	0.67	CRM
JPM	0.31	-0.16	-0.03	0.61	0.43	-0.64	0.8		-0.82	0.48	JPM
MRK	-0.58	0.1	-0.01	-0.22	-0.73	0.62	-0.92	-0.82		-0.55	MRK
XOM	0.74	-0.18	0.42	0.27	0.38	0.02	0.67	0.48	-0.55		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	+ 0.8	CRM
XOM	+ 0.74	META
CRM	+ 0.73	META
CRM	+ 0.7	T
XOM	+ 0.67	CRM
T	+ 0.64	META

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.82	JPM
MRK	- 0.73	T
JPM	- 0.64	A
MRK	- 0.58	META
XOM	- 0.55	MRK

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	1.07	0.05	0.02	0.16	1.41	(1.15)	2.62	(3.15)	8.02
MSFT	0.89	(0.10)	0.00	(0.05)	0.00	0.00	2.08	(2.03)	8.19
UBER	1.56	(0.15)	0.00	(0.06)	0.00	0.00	2.53	(2.44)	20.10
F	1.40	(0.09)	(0.02)	0.02	2.20	(1.37)	2.53	(2.90)	11.72
T	0.91	0.26	0.16	(47.59)	0.84	(1.03)	2.56	(1.72)	6.47
A	1.09	(0.16)	0.00	(0.27)	0.00	0.00	2.11	(2.42)	9.02
CRM	1.25	0.24	0.20	0.30	0.94	(1.47)	3.18	(1.91)	9.09
JPM	1.09	0.03	0.06	0.10	1.43	(1.11)	2.05	(2.00)	15.87
MRK	0.83	(0.26)	0.00	(1.64)	0.00	0.00	1.68	(2.13)	4.89
XOM	1.03	0.04	0.00	0.15	1.22	(1.09)	2.14	(2.09)	5.78

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