IShares Currency Correlations

HEEM Etf

USD 27.46 0.05 0.18%

The current 90-days correlation between iShares Currency Hedged and iShares Currency Hedged is 0.62 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Currency moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Currency Hedged moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Currency Correlation With Market

Modest diversification

The correlation between iShares Currency Hedged and DJI is 0.28 (i.e., Modest 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 income.

Moving together with IShares Etf

0.99	VWO	Vanguard FTSE Emerging	Pair Corr
0.96	IEMG	iShares Core MSCI	Pair Corr
0.91	EMC	Global X Funds	Pair Corr
0.97	EEM	iShares MSCI Emerging	Pair Corr
0.99	SPEM	SPDR Portfolio Emerging	Pair Corr
0.99	FNDE	Schwab Fundamental	Pair Corr
0.97	ESGE	iShares ESG Aware	Pair Corr
0.98	XSOE	WisdomTree Emerging	Pair Corr
0.62	BST	BlackRock Science Tech	Pair Corr
0.75	HD	Home Depot	Pair Corr
0.68	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.67	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.71	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.62	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.69	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr

Moving against IShares Etf

0.81	HUM	Humana Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.33	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Related Correlations Analysis

	HEFA	HEZU	HSCZ	HAWX	HEWJ
HEFA		0.85	0.92	0.91	0.68	HEFA
HEZU	0.85		0.74	0.7	0.23	HEZU
HSCZ	0.92	0.74		0.93	0.71	HSCZ
HAWX	0.91	0.7	0.93		0.76	HAWX
HEWJ	0.68	0.23	0.71	0.76		HEWJ
	HEFA	HEZU	HSCZ	HAWX	HEWJ

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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
HEFA	0.56	(0.07)	(0.16)	(0.01)	0.73	(0.58)	1.19	(1.36)	3.24
HEZU	0.65	(0.08)	0.00	(0.04)	0.00	0.00	1.18	(1.46)	3.77
HSCZ	0.51	(0.06)	(0.15)	0.02	0.69	(0.52)	1.42	(1.29)	3.60
HAWX	0.54	(0.05)	(0.14)	0.02	0.70	(0.58)	1.21	(1.37)	3.60
HEWJ	1.00	(0.07)	(0.04)	0.04	1.49	(0.92)	2.57	(2.09)	7.45

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