IShares Core Correlations

CSSPX Etf

USD 736.40 3.80 0.51%

The current 90-days correlation between iShares Core SP and iShares MSCI Korea is 0.39 (i.e., Weak diversification). The correlation of IShares Core 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 Core Correlation With Market

Poor diversification

The correlation between iShares Core SP and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Core SP and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares Core 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 Core 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 Core - 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 Core SP to buy it.

Moving together with IShares Etf

0.66	SPY5	SPDR SP 500	Pair Corr
0.79	INAA	iShares MSCI North	Pair Corr
0.9	LYSP5	Lyxor SP 500	Pair Corr
0.78	CU2USD	Amundi Index Solutions	Pair Corr
0.91	500USD	Amundi Index Solutions	Pair Corr
0.64	HIEM	HSBC MSCI Emerging	Pair Corr
0.75	SXXEEX	iShares EURO STOXX	Pair Corr
0.7	AUEM	Amundi Index Solutions	Pair Corr
0.77	ZSILHC	ZKB Silver ETF	Pair Corr
0.86	SMCX	SPDR MSCI Europe	Pair Corr
0.63	HMXJ	HSBC MSCI Pacific	Pair Corr
0.76	LCEU	BNP Paribas Easy	Pair Corr
0.72	XSMI	Xtrackers Switzerland	Pair Corr
0.78	VWRL	Vanguard FTSE All	Pair Corr
0.77	VUKE	Vanguard FTSE 100	Pair Corr
0.78	ZSIL	ZKB Silver ETF	Pair Corr
0.68	ZGLDEU	ZKB Gold ETF	Pair Corr
0.82	EMUEUA	UBSFund Solutions MSCI	Pair Corr
0.71	IEEM	iShares MSCI EM	Pair Corr
0.82	SMHV	VanEck Semiconductor	Pair Corr
0.68	SMICHA	UBS ETF SMI	Pair Corr
0.75	VEVE	Vanguard FTSE Developed	Pair Corr
0.9	WRDUSW-USD	UBSETF MSCIWLD USDa	Pair Corr
0.71	XMME	Xtrackers MSCI Emerging	Pair Corr
0.88	RBOT	iShares Automation	Pair Corr
0.8	USEUWH	UBS ETF plc	Pair Corr
0.77	C50	Amundi Index Solutions	Pair Corr
0.72	TBIL	SPDR Bloomberg 1	Pair Corr

Related Correlations Analysis

	SGWS	IGEA	SEMI	CSUKX	30ID	IASP	IWDC	IUHC	IKOR
SGWS		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SGWS
IGEA	0.0		-0.84	-0.83	0.02	-0.85	-0.56	-0.27	-0.9	IGEA
SEMI	0.0	-0.84		0.93	0.0	0.89	0.85	0.49	0.96	SEMI
CSUKX	0.0	-0.83	0.93		0.01	0.91	0.79	0.54	0.94	CSUKX
30ID	0.0	0.02	0.0	0.01		0.18	-0.07	-0.02	0.08	30ID
IASP	0.0	-0.85	0.89	0.91	0.18		0.65	0.49	0.95	IASP
IWDC	0.0	-0.56	0.85	0.79	-0.07	0.65		0.56	0.71	IWDC
IUHC	0.0	-0.27	0.49	0.54	-0.02	0.49	0.56		0.46	IUHC
IKOR	0.0	-0.9	0.96	0.94	0.08	0.95	0.71	0.46		IKOR
	SGWS	IGEA	SEMI	CSUKX	30ID	IASP	IWDC	IUHC	IKOR

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

IKOR	+ 0.96	SEMI
IKOR	+ 0.95	IASP
IKOR	+ 0.94	CSUKX
CSUKX	+ 0.93	SEMI
IASP	+ 0.91	CSUKX
IASP	+ 0.89	SEMI

High negative correlations

IKOR	- 0.9	IGEA
IASP	- 0.85	IGEA
SEMI	- 0.84	IGEA
CSUKX	- 0.83	IGEA
IWDC	- 0.56	IGEA
IUHC	- 0.27	IGEA

IShares Core Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Core 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 Core'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
SGWS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IGEA	0.28	(0.07)	0.00	1.88	0.00	0.00	0.54	(0.87)	2.10
SEMI	1.53	0.32	0.13	22.89	1.73	(1.73)	4.33	(2.47)	10.21
CSUKX	0.54	0.11	0.10	0.47	0.45	(0.59)	1.22	(1.02)	2.71
30ID	0.08	0.00	(0.14)	(0.03)	0.12	(0.20)	0.19	(0.19)	1.32
IASP	0.38	0.09	0.06	0.52	0.24	(0.71)	1.27	(0.71)	2.69
IWDC	0.48	0.00	(0.07)	0.06	0.61	(0.48)	0.97	(1.08)	2.73
IUHC	0.64	0.03	(0.02)	0.29	0.66	(0.75)	1.51	(1.17)	3.95
IKOR	1.62	0.63	0.24	(1.83)	1.44	(2.14)	3.48	(2.47)	14.94

Be your own money manager

Our tools can tell you how much better you can do entering a position in IShares Core 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.

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