FlexShares STOXX Correlations

Etfs . USA . 
Etf . FlexShares STOXX ESG
ESG Etf  USD 134.97  0.35  0.26%   
The current 90-days correlation between FlexShares STOXX ESG and iShares ESG Aware is 0.95 (i.e., Almost no diversification). The correlation of FlexShares STOXX 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.

FlexShares STOXX Correlation With Market

FlexSharesDowDiversified AwayFlexSharesDowDiversified Away100%

Poor diversification

The correlation between FlexShares STOXX ESG and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FlexShares STOXX ESG and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in FlexShares STOXX ESG. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with FlexShares Etf

  0.93VTI Vanguard Total StockPairCorr
  0.94SPY SPDR SP 500PairCorr
  0.94IVV iShares Core SPPairCorr
  0.95VIG Vanguard DividendPairCorr
  0.95VV Vanguard Large CapPairCorr
  0.93RSP Invesco SP 500PairCorr
  0.94IWB iShares Russell 1000PairCorr
  0.91ESGU iShares ESG AwarePairCorr
  0.92DFAC Dimensional Core EquityPairCorr
  0.94SPLG SPDR Portfolio SPPairCorr
  0.81FNGO MicroSectors FANG IndexPairCorr
  0.81FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.84DUSL Direxion Daily IndusPairCorr
  0.77BA BoeingPairCorr
  0.83AXP American ExpressPairCorr
  0.74DIS Walt DisneyPairCorr
  0.69HPQ HP IncPairCorr
  0.84JPM JPMorgan Chase Sell-off TrendPairCorr
  0.81BAC Bank of America Aggressive PushPairCorr
  0.89WMT WalmartPairCorr

Moving against FlexShares Etf

  0.43MRK Merck CompanyPairCorr

Related Correlations Analysis

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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   
ESGV
+ 1.0
ESGU
ESGD
+ 0.9
ESGE
ESGE
+ 0.71
ESGG
ESGD
+ 0.61
ESGG
ESGG
+ 0.48
ESGU
ESGV
+ 0.47
ESGG
  
High negative correlations   
ESGV
- 0.38
ESGD
ESGD
- 0.37
ESGU
ESGV
- 0.14
ESGE
ESGE
- 0.13
ESGU

FlexShares STOXX Constituents Risk-Adjusted Indicators

There is a big difference between FlexShares Etf performing well and FlexShares STOXX 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 FlexShares STOXX'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.

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