IShares SMIM Correlations
| CSSMIM Etf | CHF 325.20 4.45 1.35% |
The current 90-days correlation between iShares SMIM ETF and iShares Edge MSCI is -0.02 (i.e., Good diversification). The correlation of IShares SMIM 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 SMIM Correlation With Market
Very poor diversification
The correlation between iShares SMIM ETF and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares SMIM ETF and DJI in the same portfolio, assuming nothing else is changed.
IShares |
The ability to find closely correlated positions to IShares SMIM 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 SMIM 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 SMIM - 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 SMIM ETF to buy it.
Moving together with IShares Etf
| 1.0 | SMMCHA | UBS ETF SMIM | PairCorr |
| 0.99 | SPMCHA | UBS ETF SPI | PairCorr |
| 0.77 | SXLP | SPDR SP Consumer | PairCorr |
| 0.94 | XLIS | Invesco Industrials | PairCorr |
| 0.93 | XLBS | Invesco Materials | PairCorr |
| 0.93 | SXLI | SPDR SP Industrials | PairCorr |
| 0.94 | XGSD | Xtrackers Stoxx Global | PairCorr |
| 0.94 | WRDUSW-USD | UBSETF MSCIWLD USDa | PairCorr |
| 0.89 | HYLC | iShares Global High | PairCorr |
| 0.92 | XESC | Xtrackers Euro Stoxx | PairCorr |
| 0.93 | XMCJ | Xtrackers MSCI Japan | PairCorr |
| 0.91 | JPESG | UBS ETF plc | PairCorr |
| 0.91 | LYFINW | Lyxor MSCI World | PairCorr |
| 0.97 | XDUE | Xtrackers MSCI EMU | PairCorr |
| 0.94 | STYC | PIMCO Short Term | PairCorr |
| 0.82 | STHC | PIMCO Short Term | PairCorr |
| 0.91 | IJPN | iShares MSCI Japan | PairCorr |
| 0.87 | RGRT | Raiffeisen ETF Solid | PairCorr |
| 0.88 | CISB | iShares Smart City | PairCorr |
| 0.93 | EUN | iShares STOXX Europe | PairCorr |
| 0.91 | XMEX | Xtrackers MSCI Mexico | PairCorr |
| 0.71 | USGBPA | UBS ETF plc | PairCorr |
| 0.76 | USCR | SPDR Bloomberg SASB | PairCorr |
| 0.92 | AFLT | Amundi Index Solutions | PairCorr |
| 0.93 | UKGBPA | UBSFund Solutions MSCI | PairCorr |
| 0.87 | ESGO | AuAg Gold Mining | PairCorr |
| 0.79 | WHEA | SPDR MSCI World | PairCorr |
| 0.86 | XMME | Xtrackers MSCI Emerging | PairCorr |
| 0.88 | VAPU | Vanguard FTSE Developed | PairCorr |
| 0.79 | DCUSAS | UBS Fund Solutions | PairCorr |
| 0.92 | DGRA | WisdomTree Quality | PairCorr |
| 0.92 | IT25 | iShares V PLC | PairCorr |
| 0.96 | EMUM | iShares MSCI EMU | PairCorr |
Moving against IShares Etf
Related Correlations Analysis
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 SMIM Constituents Risk-Adjusted Indicators
There is a big difference between IShares Etf performing well and IShares SMIM 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 SMIM'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| IDVY | 0.48 | 0.10 | 0.02 | 0.77 | 0.46 | 1.34 | 2.85 | |||
| IUKD | 0.58 | 0.14 | 0.08 | 0.54 | 0.56 | 1.79 | 3.72 | |||
| IUSC | 0.54 | 0.00 | (0.12) | 0.08 | 0.65 | 1.08 | 3.21 | |||
| CSSLI | 0.50 | 0.08 | 0.00 | 0.74 | 0.51 | 1.22 | 3.37 | |||
| BTCW | 2.37 | (0.73) | 0.00 | (1.41) | 0.00 | 4.38 | 16.49 | |||
| DAXD | 0.69 | (0.03) | (0.08) | 0.02 | 0.92 | 1.29 | 4.27 | |||
| ASOL | 3.27 | (1.05) | 0.00 | (20.98) | 0.00 | 5.32 | 22.02 | |||
| IWDC | 0.51 | 0.02 | (0.09) | 0.23 | 0.60 | 1.27 | 3.44 | |||
| MVEC | 0.36 | 0.07 | (0.06) | (0.58) | 0.41 | 0.78 | 2.78 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in IShares SMIM 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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