| EFRA Etf | | | USD 33.52 0.09 0.27% |
The current 90-days correlation between iShares Environmental and VanEck Vectors ETF is 0.54 (i.e., Very weak diversification). The correlation of IShares Environmental 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 Environmental Correlation With Market
Very weak diversification
The correlation between iShares Environmental Infrastr and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Environmental Infrastr and DJI in the same portfolio, assuming nothing else is changed.
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Investing Opportunities to better understand how to build diversified portfolios, which includes a position in iShares Environmental Infrastructure. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as
signals in metropolitan statistical area.