IShares GNMA Correlations

GNMA Etf

USD 43.92 0.23 0.53%

The current 90-days correlation between iShares GNMA Bond and iShares Agency Bond is -0.01 (i.e., Good diversification). The correlation of IShares GNMA 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 GNMA Correlation With Market

Good diversification

The correlation between iShares GNMA Bond and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares GNMA 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 GNMA 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 population.

Moving together with IShares Etf

0.99	GOVT	iShares Treasury Bond	Pair Corr
0.99	MBB	iShares MBS ETF	Pair Corr
0.98	IEI	iShares 3 7	Pair Corr
0.99	SPTI	SPDR Portfolio Inter	Pair Corr
0.99	SPMB	SPDR Portfolio Mortgage	Pair Corr
0.99	ITE	SPDR Bloomberg Barclays	Pair Corr
0.99	JMBS	Janus Henderson Mort	Pair Corr
0.96	FLGV	Franklin Liberty Treasury	Pair Corr
0.98	MBSD	FlexShares Disciplined	Pair Corr
0.99	OWNS	Quaker Investment Trust	Pair Corr
0.8	IRET	Tidal Trust II	Pair Corr
0.68	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.73	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.87	KO	Coca Cola Aggressive Push	Pair Corr
0.91	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against IShares Etf

0.83	BST	BlackRock Science Tech	Pair Corr
0.72	ARKW	ARK Next Generation	Pair Corr
0.7	BTC	Grayscale Bitcoin Mini	Pair Corr
0.56	EWC	iShares MSCI Canada	Pair Corr
0.56	ETH	Grayscale Ethereum Mini	Pair Corr
0.5	IAUF	IShares	Pair Corr
0.49	WTMF	WisdomTree Managed	Pair Corr
0.31	OIH	VanEck Oil Services	Pair Corr
0.84	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.81	EOS	Eaton Vance Enhanced	Pair Corr
0.79	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.78	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.77	BAC	Bank of America Aggressive Push	Pair Corr
0.73	HPQ	HP Inc	Pair Corr
0.68	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.62	WMT	Walmart Aggressive Push	Pair Corr
0.59	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.49	HD	Home Depot	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.26	0.55	0.07	0.53	0.05	0.64	0.28	-0.53	0.73	META
MSFT	0.26		0.21	0.17	0.16	-0.01	0.03	-0.11	0.13	-0.2	MSFT
UBER	0.55	0.21		-0.06	-0.09	0.27	-0.03	-0.16	0.09	0.35	UBER
F	0.07	0.17	-0.06		0.28	-0.41	0.5	0.7	-0.37	0.32	F
T	0.53	0.16	-0.09	0.28		-0.5	0.81	0.64	-0.79	0.39	T
A	0.05	-0.01	0.27	-0.41	-0.5		-0.46	-0.6	0.63	0.0	A
CRM	0.64	0.03	-0.03	0.5	0.81	-0.46		0.86	-0.91	0.65	CRM
JPM	0.28	-0.11	-0.16	0.7	0.64	-0.6	0.86		-0.83	0.47	JPM
MRK	-0.53	0.13	0.09	-0.37	-0.79	0.63	-0.91	-0.83		-0.56	MRK
XOM	0.73	-0.2	0.35	0.32	0.39	0.0	0.65	0.47	-0.56		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	+ 0.86	CRM
CRM	+ 0.81	T
XOM	+ 0.73	META
JPM	+ 0.7	F
XOM	+ 0.65	CRM
CRM	+ 0.64	META

High negative correlations

MRK	- 0.91	CRM
MRK	- 0.83	JPM
MRK	- 0.79	T
JPM	- 0.6	A
XOM	- 0.56	MRK
MRK	- 0.53	META

IShares GNMA Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares GNMA 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 GNMA'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	1.07	0.07	0.02	0.23	1.41	(1.14)	2.62	(3.15)	8.02
MSFT	0.90	(0.04)	(0.05)	0.07	1.50	(0.86)	2.09	(1.85)	8.19
UBER	1.61	(0.11)	(0.04)	0.02	2.32	(1.70)	2.69	(2.53)	20.10
F	1.42	(0.15)	(0.04)	0.03	2.23	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.12	(7.83)	0.86	(1.06)	2.56	(1.72)	6.47
A	1.17	(0.09)	0.00	(0.06)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.31	0.23	0.18	0.34	1.08	(1.53)	3.18	(1.91)	9.98
JPM	1.12	(0.04)	0.05	0.11	1.38	(1.23)	2.05	(2.00)	15.87
MRK	0.91	(0.24)	0.00	(0.86)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.00	(0.03)	(0.07)	0.06	1.31	(1.04)	2.10	(2.09)	5.74

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