IShares GovernmentCredit Correlations

GBF Etf

USD 103.14 0.04 0.04%

The current 90-days correlation between IShares GovernmentCredit and iShares Intermediate GovernmentCredit is 0.91 (i.e., Almost no diversification). The correlation of IShares GovernmentCredit 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 GovernmentCredit Correlation With Market

Average diversification

The correlation between iShares GovernmentCredit Bond and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares GovernmentCredit Bond and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iShares GovernmentCredit Bond. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with IShares Etf

0.95	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
1.0	AGG	iShares Core Aggregate Sell-off Trend	Pair Corr
0.99	BIV	Vanguard Intermediate Sell-off Trend	Pair Corr
0.95	SPAB	SPDR Portfolio Aggregate Sell-off Trend	Pair Corr
1.0	EAGG	iShares ESG Aggregate	Pair Corr
0.99	FLCB	Franklin Templeton ETF	Pair Corr
0.99	UITB	VictoryShares USAA Core	Pair Corr
1.0	DFCF	Dimensional ETF Trust	Pair Corr
1.0	JAGG	JPMorgan BetaBuilders	Pair Corr
1.0	AGGY	WisdomTree Yield Enhanced	Pair Corr
0.77	IJH	iShares Core SP Sell-off Trend	Pair Corr
0.67	EFA	iShares MSCI EAFE	Pair Corr
0.75	VZ	Verizon Communications Aggressive Push	Pair Corr
0.63	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.65	MCD	McDonalds	Pair Corr
0.62	JNJ	Johnson Johnson	Pair Corr
0.66	HD	Home Depot	Pair Corr

Moving against IShares Etf

0.31	TOAK	Manager Directed Por	Pair Corr
0.35	BA	Boeing	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.22	-0.28	-0.51	0.73	0.78	0.44	0.75	-0.44	-0.59	META
MSFT	0.22		-0.53	-0.12	0.2	0.24	0.67	0.09	0.18	-0.36	MSFT
UBER	-0.28	-0.53		0.64	-0.12	-0.03	-0.48	0.03	-0.03	0.78	UBER
F	-0.51	-0.12	0.64		-0.06	-0.35	0.01	-0.13	0.17	0.9	F
T	0.73	0.2	-0.12	-0.06		0.48	0.62	0.67	-0.37	-0.21	T
A	0.78	0.24	-0.03	-0.35	0.48		0.2	0.74	-0.24	-0.4	A
CRM	0.44	0.67	-0.48	0.01	0.62	0.2		0.37	-0.06	-0.28	CRM
JPM	0.75	0.09	0.03	-0.13	0.67	0.74	0.37		-0.57	-0.25	JPM
MRK	-0.44	0.18	-0.03	0.17	-0.37	-0.24	-0.06	-0.57		0.13	MRK
XOM	-0.59	-0.36	0.78	0.9	-0.21	-0.4	-0.28	-0.25	0.13		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

XOM	+ 0.9	F
A	+ 0.78	META
XOM	+ 0.78	UBER
JPM	+ 0.75	META
JPM	+ 0.74	A
T	+ 0.73	META

High negative correlations

XOM	- 0.59	META
MRK	- 0.57	JPM
UBER	- 0.53	MSFT
F	- 0.51	META
CRM	- 0.48	UBER
MRK	- 0.44	META

IShares GovernmentCredit Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares GovernmentCredit 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 GovernmentCredit'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
META	1.32	0.31	0.18	0.77	1.17	(1.50)	3.43	(1.95)	7.43
MSFT	1.02	0.03	(0.03)	0.25	1.63	(0.99)	2.20	(2.14)	10.31
UBER	1.66	(0.03)	0.00	(0.35)	0.00	0.00	3.36	(5.35)	12.29
F	1.46	(0.19)	0.00	(0.18)	0.00	0.00	2.57	(2.90)	9.39
T	0.98	0.10	0.05	0.30	1.04	(1.13)	1.91	(1.84)	7.94
A	1.22	0.15	0.08	0.37	1.12	(1.44)	2.92	(2.16)	8.06
CRM	1.58	0.18	0.07	0.53	1.72	(1.80)	3.70	(2.95)	14.80
JPM	1.02	0.32	0.21	1.00	0.92	(1.24)	1.97	(1.42)	15.87
MRK	1.15	(0.23)	0.00	(0.87)	0.00	0.00	2.00	(2.13)	11.57
XOM	0.89	(0.15)	0.00	(0.21)	0.00	0.00	1.71	(1.93)	6.06

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