IShares Core Correlations

HDV Etf

USD 122.27 0.66 0.54%

The current 90-days correlation between iShares Core High and Invesco SP 500 is 0.41 (i.e., Very weak 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

Very weak diversification

The correlation between iShares Core High and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Core High and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IShares Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iShares Core High. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

Moving together with IShares Etf

0.67	VTV	Vanguard Value Index	Pair Corr
0.64	VYM	Vanguard High Dividend	Pair Corr
0.7	DGRO	iShares Core Dividend	Pair Corr
0.83	NOBL	ProShares SP 500	Pair Corr
0.63	GDXU	MicroSectors Gold Miners	Pair Corr
0.64	JNUG	Direxion Daily Junior	Pair Corr
0.67	NUGT	Direxion Daily Gold	Pair Corr
0.66	GDMN	WisdomTree Efficient Gold	Pair Corr
0.68	JNJ	Johnson Johnson	Pair Corr

Moving against IShares Etf

0.45	PTIR	GraniteShares 2x Long	Pair Corr
0.41	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	SPGP	ITB	KRE	FNDC	SLYG	IFRA	AOR	EWU	IYH	AAXJ
SPGP		0.49	0.68	0.78	0.9	0.88	0.67	0.61	0.06	0.29	SPGP
ITB	0.49		0.08	0.05	0.42	0.52	-0.05	-0.24	-0.37	-0.07	ITB
KRE	0.68	0.08		0.83	0.78	0.49	0.63	0.74	0.59	-0.14	KRE
FNDC	0.78	0.05	0.83		0.83	0.67	0.89	0.92	0.58	0.31	FNDC
SLYG	0.9	0.42	0.78	0.83		0.86	0.77	0.66	0.32	0.18	SLYG
IFRA	0.88	0.52	0.49	0.67	0.86		0.65	0.49	0.05	0.34	IFRA
AOR	0.67	-0.05	0.63	0.89	0.77	0.65		0.88	0.57	0.57	AOR
EWU	0.61	-0.24	0.74	0.92	0.66	0.49	0.88		0.64	0.38	EWU
IYH	0.06	-0.37	0.59	0.58	0.32	0.05	0.57	0.64		-0.08	IYH
AAXJ	0.29	-0.07	-0.14	0.31	0.18	0.34	0.57	0.38	-0.08		AAXJ
	SPGP	ITB	KRE	FNDC	SLYG	IFRA	AOR	EWU	IYH	AAXJ

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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

EWU	+ 0.92	FNDC
SLYG	+ 0.9	SPGP
AOR	+ 0.89	FNDC
IFRA	+ 0.88	SPGP
EWU	+ 0.88	AOR
IFRA	+ 0.86	SLYG

High negative correlations

IYH	- 0.37	ITB
EWU	- 0.24	ITB
AAXJ	- 0.14	KRE
AAXJ	- 0.08	IYH
AAXJ	- 0.07	ITB
AOR	- 0.05	ITB

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
SPGP	0.71	(0.05)	(0.05)	0.01	0.98	(0.69)	1.24	(1.52)	3.36
ITB	1.04	(0.21)	0.00	(0.11)	0.00	0.00	3.15	(2.61)	7.12
KRE	1.02	(0.02)	0.00	0.04	1.67	(1.05)	2.84	(2.27)	9.28
FNDC	0.53	0.02	0.00	0.08	0.59	(0.55)	0.98	(1.07)	2.71
SLYG	0.82	(0.06)	(0.04)	0.01	1.06	(0.80)	1.68	(1.59)	4.55
IFRA	0.68	(0.03)	(0.05)	0.02	0.73	(0.75)	1.31	(1.27)	3.17
AOR	0.36	0.00	(0.04)	0.06	0.46	(0.36)	0.75	(0.73)	2.04
EWU	0.59	0.07	0.09	0.17	0.48	(0.69)	1.33	(0.93)	2.70
IYH	0.61	0.12	0.15	0.23	0.42	(0.70)	2.13	(1.24)	4.69
AAXJ	0.78	0.04	0.04	0.10	0.92	(0.88)	1.70	(1.35)	4.97

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