IShares Core Correlations

EXS1 Etf

EUR 208.70 1.85 0.89%

The current 90-days correlation between iShares Core DAX and iShares MSCI ACWI is 0.08 (i.e., Significant 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.

IShares Core Correlation With Market

Almost no diversification

The correlation between iShares Core DAX and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Core DAX 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 DAX to buy it.

Moving together with IShares Etf

0.99	EL4F	Deka DAX UCITS	Pair Corr
0.83	EL4X	Deka DAXplus Maximum	Pair Corr
1.0	CG1G	AMUNDI ETF DAX	Pair Corr
0.89	C006	Lyxor FAZ 100	Pair Corr
0.96	VGER	Vanguard Funds Public	Pair Corr
0.92	ELF0	Deka DAX ex	Pair Corr
0.81	E903	Lyxor 1	Pair Corr
0.89	FTGG	First Trust Global	Pair Corr
0.88	LYBK	Lyxor UCITS Stoxx	Pair Corr
0.88	EXX1	iShares EURO STOXX	Pair Corr
0.88	EXX1	iShares EURO STOXX	Pair Corr
0.84	S7XE	Invesco EURO STOXX	Pair Corr
0.87	EXV1	iShares STOXX Europe	Pair Corr
0.84	SC0U	Invesco Markets plc	Pair Corr
0.75	AMEE	Amundi ETF MSCI	Pair Corr
0.82	ETLX	LG Gold Mining	Pair Corr
0.83	UBUD	UBS ETF Public	Pair Corr
0.83	ETLX	LG Gold Mining	Pair Corr
0.73	LM9E	BNP Paribas Easy	Pair Corr
0.86	IUS2	iShares SP Banks	Pair Corr
0.96	WGES	Amundi MSCI World	Pair Corr
0.9	ETSZ	Easy ETF	Pair Corr
0.71	T3MP	JPMorgan ETFs ICAV	Pair Corr
0.65	S0LR	Invesco Solar Energy	Pair Corr
0.65	EGV3	MULTI UNITS LUXEMBOURG	Pair Corr
0.78	DBX8	Xtrackers MSCI	Pair Corr
0.87	DBX4	Xtrackers MSCI	Pair Corr
0.84	VALD	BNP Paribas Easy	Pair Corr
0.93	SPYY	SSgA SPDR ETFs	Pair Corr
0.9	DX2X	Xtrackers Stoxx	Pair Corr
0.92	EMNE	iShares MSCI EMU	Pair Corr
0.76	VGEK	Vanguard FTSE Developed	Pair Corr

Related Correlations Analysis

	EUN8	IS0Z	AYEU	CBU1	IUSP	2B7A	36BY	IS02	IUSQ
EUN8		0.96	0.58	0.4	-0.21	0.62	0.0	0.35	0.45	EUN8
IS0Z	0.96		0.67	0.49	-0.1	0.57	0.0	0.45	0.57	IS0Z
AYEU	0.58	0.67		0.88	-0.28	-0.06	0.0	-0.03	0.93	AYEU
CBU1	0.4	0.49	0.88		-0.25	-0.27	0.0	-0.09	0.87	CBU1
IUSP	-0.21	-0.1	-0.28	-0.25		0.13	0.0	0.59	-0.07	IUSP
2B7A	0.62	0.57	-0.06	-0.27	0.13		0.0	0.69	-0.17	2B7A
36BY	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	36BY
IS02	0.35	0.45	-0.03	-0.09	0.59	0.69	0.0		0.0	IS02
IUSQ	0.45	0.57	0.93	0.87	-0.07	-0.17	0.0	0.0		IUSQ
	EUN8	IS0Z	AYEU	CBU1	IUSP	2B7A	36BY	IS02	IUSQ

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

IS0Z	+ 0.96	EUN8
IUSQ	+ 0.93	AYEU
CBU1	+ 0.88	AYEU
IUSQ	+ 0.87	CBU1
IS02	+ 0.69	2B7A
AYEU	+ 0.67	IS0Z

High negative correlations

IUSP	- 0.28	AYEU
2B7A	- 0.27	CBU1
IUSP	- 0.25	CBU1
IUSP	- 0.21	EUN8
IUSQ	- 0.17	2B7A
IUSP	- 0.1	IS0Z

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
EUN8	0.20	0.01	(0.21)	0.34	0.23	(0.21)	0.41	(0.52)	1.10
IS0Z	0.13	0.01	(0.28)	0.61	0.10	(0.13)	0.32	(0.31)	0.76
AYEU	0.56	0.08	0.04	0.27	0.68	(0.68)	1.34	(1.35)	4.64
CBU1	0.14	0.00	(0.21)	0.00	0.00	(0.22)	0.33	(0.32)	0.81
IUSP	0.23	(0.01)	(0.13)	(0.02)	0.50	(0.22)	0.50	(0.43)	3.05
2B7A	0.78	0.04	(0.04)	(0.26)	0.95	(0.81)	1.58	(1.45)	3.90
36BY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IS02	0.26	0.02	(0.13)	(0.09)	0.32	(0.30)	0.54	(0.72)	1.45
IUSQ	0.51	0.02	(0.03)	0.12	0.55	(0.57)	1.33	(1.17)	2.83

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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