IShares Core Correlations

GLUH Etf

4.91 0.01 0.20%

The current 90-days correlation between iShares Core UK and iShares MSCI USA is 0.19 (i.e., Average 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. If the correlation is 0, the equities are not correlated; they are entirely random.

IShares Core Correlation With Market

Average diversification

The correlation between iShares Core UK and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Core UK 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 UK to buy it.

Moving together with IShares Etf

0.71	VUSA	Vanguard SP 500	Pair Corr
0.82	DIA	SPDR Dow Jones	Pair Corr
0.71	IUSA	iShares SP 500	Pair Corr
0.71	CNYB	iShares China CNY	Pair Corr
0.66	CYBU	iShares China CNY	Pair Corr
0.67	IMEU	iShares Core MSCI	Pair Corr
0.73	IWRD	iShares MSCI World	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.52	0.4	-0.5	0.24	-0.31	0.26	-0.27	-0.33	-0.5	META
MSFT	0.52		0.75	-0.5	0.42	-0.06	-0.02	-0.42	-0.81	-0.64	MSFT
UBER	0.4	0.75		-0.55	0.29	0.23	-0.17	-0.46	-0.74	-0.52	UBER
F	-0.5	-0.5	-0.55		-0.45	0.18	0.27	0.47	0.54	0.64	F
T	0.24	0.42	0.29	-0.45		0.12	-0.63	-0.47	-0.38	-0.58	T
A	-0.31	-0.06	0.23	0.18	0.12		-0.52	-0.45	-0.09	-0.02	A
CRM	0.26	-0.02	-0.17	0.27	-0.63	-0.52		0.49	0.2	0.3	CRM
JPM	-0.27	-0.42	-0.46	0.47	-0.47	-0.45	0.49		0.57	0.56	JPM
MRK	-0.33	-0.81	-0.74	0.54	-0.38	-0.09	0.2	0.57		0.76	MRK
XOM	-0.5	-0.64	-0.52	0.64	-0.58	-0.02	0.3	0.56	0.76		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	+ 0.76	MRK
UBER	+ 0.75	MSFT
XOM	+ 0.64	F
MRK	+ 0.57	JPM
XOM	+ 0.56	JPM
MRK	+ 0.54	F

High negative correlations

MRK	- 0.81	MSFT
MRK	- 0.74	UBER
XOM	- 0.64	MSFT
CRM	- 0.63	T
XOM	- 0.58	T
F	- 0.55	UBER

IShares Core Competition 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
META	1.35	(0.15)	0.00	(0.64)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.92	(0.17)	0.00	(0.25)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.45	(0.32)	0.00	(0.53)	0.00	0.00	2.50	(3.82)	10.23
F	1.44	0.10	0.03	0.36	1.77	(1.58)	2.53	(2.63)	16.30
T	0.96	(0.21)	0.00	(0.86)	0.00	0.00	1.61	(2.18)	5.75
A	1.06	(0.03)	0.00	0.19	0.00	0.00	2.09	(2.21)	6.50
CRM	1.51	0.06	0.03	0.13	1.97	(1.51)	3.66	(2.92)	9.91
JPM	1.08	(0.02)	0.00	0.04	1.41	(1.11)	2.00	(1.91)	7.02
MRK	1.32	0.33	0.25	0.46	1.03	(1.70)	3.84	(1.98)	11.45
XOM	0.91	0.12	0.08	0.52	0.82	(1.01)	1.96	(1.41)	4.99

IShares Core 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 Core etf to make a market-neutral strategy. Peer analysis of IShares Core could also be used in its relative valuation, which is a method of valuing IShares Core by comparing valuation metrics with similar companies.

iShares MSCI USA iShares Global Aggregate iShares Global Aggregate iShares MSCI EM iShares MSCI Europe iShares MSCI China iShares MSCI China iShares Global Govt iShares Corp Bond American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

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