IShares Correlations

EWGS Etf

USD 62.92 0.58 0.91%

The current 90-days correlation between IShares and iShares MSCI Hong is -0.18 (i.e., Good diversification). The correlation of IShares 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 Correlation With Market

Good diversification

The correlation between IShares and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IShares and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios. 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 against IShares Etf

0.69	EWG	iShares MSCI Germany	Pair Corr
0.56	EWW	iShares MSCI Mexico	Pair Corr
0.52	VEA	Vanguard FTSE Developed	Pair Corr
0.49	EWQ	iShares MSCI France	Pair Corr
0.41	EWU	iShares MSCI United	Pair Corr
0.41	EWL	iShares MSCI Switzerland	Pair Corr
0.39	EWA	iShares MSCI Australia	Pair Corr
0.38	EWY	iShares MSCI South	Pair Corr
0.64	VWO	Vanguard FTSE Emerging	Pair Corr
0.59	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.38	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.35	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.34	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.34	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.29	0.57	-0.02	0.6	0.02	0.68	0.28	-0.56	0.72	META
MSFT	0.29		0.24	0.12	0.2	-0.02	0.02	-0.17	0.11	-0.18	MSFT
UBER	0.57	0.24		-0.02	0.02	0.26	0.05	-0.1	0.04	0.36	UBER
F	-0.02	0.12	-0.02		0.0	-0.37	0.36	0.62	-0.24	0.29	F
T	0.6	0.2	0.02	0.0		-0.48	0.73	0.49	-0.76	0.39	T
A	0.02	-0.02	0.26	-0.37	-0.48		-0.48	-0.65	0.64	-0.01	A
CRM	0.68	0.02	0.05	0.36	0.73	-0.48		0.83	-0.92	0.68	CRM
JPM	0.28	-0.17	-0.1	0.62	0.49	-0.65	0.83		-0.83	0.51	JPM
MRK	-0.56	0.11	0.04	-0.24	-0.76	0.64	-0.92	-0.83		-0.57	MRK
XOM	0.72	-0.18	0.36	0.29	0.39	-0.01	0.68	0.51	-0.57		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	+ 0.83	CRM
CRM	+ 0.73	T
XOM	+ 0.72	META
CRM	+ 0.68	META
XOM	+ 0.68	CRM
MRK	+ 0.64	A

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.76	T
JPM	- 0.65	A
XOM	- 0.57	MRK
MRK	- 0.56	META

IShares Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares 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' 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	1.05	0.00	(0.03)	0.12	1.40	(1.14)	2.62	(3.15)	8.02
MSFT	0.88	(0.08)	(0.07)	0.01	1.51	(0.82)	2.09	(1.85)	8.19
UBER	1.60	(0.14)	0.00	(0.02)	0.00	0.00	2.69	(2.44)	20.10
F	1.43	(0.12)	(0.02)	0.04	2.19	(1.43)	2.75	(2.90)	11.72
T	0.92	0.28	0.14	24.43	0.85	(1.04)	2.56	(1.72)	6.47
A	1.14	(0.13)	0.00	(0.12)	0.00	0.00	2.29	(2.42)	9.02
CRM	1.28	0.29	0.25	0.37	0.90	(1.52)	3.18	(1.91)	9.09
JPM	1.12	0.00	0.06	0.12	1.44	(1.17)	2.05	(2.00)	15.87
MRK	0.85	(0.26)	0.00	(1.12)	0.00	0.00	1.73	(2.13)	4.89
XOM	1.03	0.03	(0.01)	0.18	1.21	(1.11)	2.14	(2.09)	5.78

IShares Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with IShares etf to make a market-neutral strategy. Peer analysis of IShares could also be used in its relative valuation, which is a method of valuing IShares by comparing valuation metrics with similar companies.

iShares MSCI Hong HUMANA INC SCOR PK Aquagold International Barloworld Ltd ADR Morningstar Unconstrained Allocation High Yield Municipal Fund Thrivent High Yield American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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