IShares Currency Correlations

Etfs . USA . 
Etf . iShares Currency Hedged
HSCZ Etf  USD 33.08  0.08  0.24%   
The current 90-days correlation between iShares Currency Hedged and iShares Currency Hedged is 0.88 (i.e., Very poor diversification). 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 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares 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 main economic indicators.

Moving together with IShares Etf

  0.75SCZ iShares MSCI EAFEPairCorr
  0.72GWX SPDR SP InternationalPairCorr
  0.78ISCF iShares MSCI IntlPairCorr
  0.74DFIS Dimensional ETF TrustPairCorr
  0.93LUX Tema ETF TrustPairCorr
  0.66SWP SWP Growth IncomePairCorr
  0.83WINN Harbor Long TermPairCorr
  0.68MGK Vanguard Mega CapPairCorr
  0.89BKHY BNY Mellon HighPairCorr
  0.84YEAR AB Ultra ShortPairCorr
  0.83IBM International BusinessPairCorr
  0.77GE GE Aerospace Sell-off TrendPairCorr
  0.86WMT Walmart Earnings Call This WeekPairCorr
  0.85CSCO Cisco Systems Aggressive PushPairCorr
  0.77AXP American ExpressPairCorr

Moving against IShares Etf

  0.77FNGD MicroSectors FANG IndexPairCorr
  0.54AA Alcoa CorpPairCorr
  0.48HPQ HP IncPairCorr
  0.43XOM Exxon Mobil CorpPairCorr
  0.32INTC Intel Aggressive PushPairCorr

Related Correlations Analysis

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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   
HEEM
+ 0.87
ISCF
ISCF
+ 0.81
HAWX
HEEM
+ 0.81
HAWX
HEWU
+ 0.0
HAWX
HEWC
+ 0.0
HAWX
HEWU
+ 0.0
ISCF
  
High negative correlations   
HEWC
- 0.0
HEWU
HEWC
- 0.0
HEEM
HEWU
- 0.0
HEEM
HEWC
- 0.0
ISCF
HEWU
- 0.0
ISCF
HEWC
- 0.0
HAWX

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.

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