IShares Currency Correlations

HAWX Etf

USD 32.57 0.02 0.06%

The correlation of IShares Currency 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 Currency Correlation With Market

Very weak diversification

The correlation between iShares Currency Hedged and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Currency Hedged 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 Currency Hedged. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with IShares Etf

0.73	DHF	BNY Mellon High	Pair Corr
0.85	ARP	Advisors Inner Circle	Pair Corr
0.85	SEMI	Columbia Seligman	Pair Corr
0.7	IVH	IVH	Pair Corr
0.68	HPQ	HP Inc	Pair Corr
0.74	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.77	HD	Home Depot Sell-off Trend	Pair Corr
0.69	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr

Moving against IShares Etf

0.43	PG	Procter Gamble	Pair Corr
0.38	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.35	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	AAVXF	444859BR2	SCRYY	AQUI	IPSHX	APAAX	BRRAY	MSTSX	LBHIX
AAVXF		0.0	0.0	-1.0	0.0	0.0	0.0	0.0	0.0	AAVXF
444859BR2	0.0		-0.52	0.0	-0.67	0.11	0.28	-0.47	-0.51	444859BR2
SCRYY	0.0	-0.52		0.0	0.72	0.14	-0.13	0.38	0.47	SCRYY
AQUI	-1.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AQUI
IPSHX	0.0	-0.67	0.72	0.0		-0.16	-0.07	0.56	0.63	IPSHX
APAAX	0.0	0.11	0.14	0.0	-0.16		-0.35	0.25	0.49	APAAX
BRRAY	0.0	0.28	-0.13	0.0	-0.07	-0.35		-0.44	-0.33	BRRAY
MSTSX	0.0	-0.47	0.38	0.0	0.56	0.25	-0.44		0.68	MSTSX
LBHIX	0.0	-0.51	0.47	0.0	0.63	0.49	-0.33	0.68		LBHIX
	AAVXF	444859BR2	SCRYY	AQUI	IPSHX	APAAX	BRRAY	MSTSX	LBHIX

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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

IPSHX	+ 0.72	SCRYY
LBHIX	+ 0.68	MSTSX
LBHIX	+ 0.63	IPSHX
MSTSX	+ 0.56	IPSHX
LBHIX	+ 0.49	APAAX
LBHIX	+ 0.47	SCRYY

High negative correlations

AQUI	- 1.0	AAVXF
IPSHX	- 0.67	444859BR2
SCRYY	- 0.52	444859BR2
LBHIX	- 0.51	444859BR2
MSTSX	- 0.47	444859BR2
MSTSX	- 0.44	BRRAY

IShares Currency Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Currency 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 Currency'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
AAVXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
444859BR2	1.35	(0.07)	0.00	(0.23)	0.00	0.00	5.93	(5.79)	16.62
SCRYY	2.07	0.32	0.07	(0.67)	2.01	(2.91)	5.61	(4.09)	12.99
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IPSHX	0.55	0.03	0.02	0.15	0.45	(0.68)	1.13	(0.98)	3.97
APAAX	0.14	0.02	(0.35)	(0.09)	0.15	(0.18)	0.31	(0.31)	1.13
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.05	0.51	(0.62)	1.21	(1.02)	2.80
LBHIX	0.12	0.01	(0.39)	0.51	0.00	(0.28)	0.24	(0.24)	0.96

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