IShares Trust Correlations

IBDY Etf

25.10 0.03 0.12%

The current 90-days correlation between iShares Trust and VanEck Vectors Moodys is -0.08 (i.e., Good diversification). The correlation of IShares Trust 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 Trust Correlation With Market

Modest diversification

The correlation between iShares Trust and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Trust 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 Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

For more information on how to buy IShares Etf please use our How to Invest in IShares Trust guide.

Moving together with IShares Etf

0.64

URNM

Sprott Uranium Miners

Pair Corr

Moving against IShares Etf

0.6	BSCN	Invesco	Pair Corr
0.6	IBDO	IShares	Pair Corr
0.55	BSCO	Invesco BulletShares 2024	Pair Corr
0.55	BSCP	Invesco BulletShares 2025	Pair Corr
0.54	IBDP	iShares iBonds Dec	Pair Corr
0.54	IBTD	IShares	Pair Corr
0.52	IBDQ	iShares iBonds Dec	Pair Corr
0.34	FNGS	MicroSectors FANG ETN	Pair Corr
0.32	IBDR	iShares iBonds Dec	Pair Corr
0.55	GSG	iShares SP GSCI	Pair Corr
0.5	QYLD	Global X NASDAQ	Pair Corr
0.44	BRLN	Blackrock ETF Trust	Pair Corr
0.43	HAPR	Innovator Premium Income	Pair Corr
0.42	GJAN	First Trust Exchange	Pair Corr
0.42	YEAR	AB Ultra Short	Pair Corr
0.42	XDEC	First Trust Exchange	Pair Corr
0.4	FBGX	UBS	Pair Corr
0.37	TSL	GraniteShares 125x Long	Pair Corr
0.36	BCD	abrdn Bloomberg All	Pair Corr
0.31	OLO	Olo Inc	Pair Corr
0.55	IVES	Amplify ETF Trust Symbol Change	Pair Corr
0.52	JAAA	Janus Detroit Street	Pair Corr
0.52	ICSH	iShares Ultra Short	Pair Corr
0.45	SEIX	Virtus ETF Trust	Pair Corr
0.4	PJAN	Innovator SP 500	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.73	-0.57	-0.59	0.32	0.57	0.53	0.34	-0.06	-0.67	META
MSFT	0.73		-0.53	-0.24	0.56	0.23	0.65	0.25	-0.1	-0.47	MSFT
UBER	-0.57	-0.53		0.64	-0.58	-0.08	-0.78	-0.56	0.67	0.81	UBER
F	-0.59	-0.24	0.64		0.01	-0.25	-0.2	-0.07	0.2	0.9	F
T	0.32	0.56	-0.58	0.01		0.0	0.8	0.59	-0.45	-0.23	T
A	0.57	0.23	-0.08	-0.25	0.0		0.12	0.22	0.32	-0.19	A
CRM	0.53	0.65	-0.78	-0.2	0.8	0.12		0.7	-0.59	-0.44	CRM
JPM	0.34	0.25	-0.56	-0.07	0.59	0.22	0.7		-0.62	-0.25	JPM
MRK	-0.06	-0.1	0.67	0.2	-0.45	0.32	-0.59	-0.62		0.32	MRK
XOM	-0.67	-0.47	0.81	0.9	-0.23	-0.19	-0.44	-0.25	0.32		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

XOM	+ 0.9	F
XOM	+ 0.81	UBER
CRM	+ 0.8	T
MSFT	+ 0.73	META
JPM	+ 0.7	CRM
MRK	+ 0.67	UBER

High negative correlations

CRM	- 0.78	UBER
XOM	- 0.67	META
MRK	- 0.62	JPM
MRK	- 0.59	CRM
F	- 0.59	META
T	- 0.58	UBER

IShares Trust Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Trust 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 Trust'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	1.36	0.06	0.03	0.21	1.51	(1.56)	3.43	(3.15)	7.43
MSFT	0.92	0.04	0.01	1.07	1.58	(0.87)	2.09	(1.73)	8.14
UBER	1.63	(0.33)	0.00	(26.89)	0.00	0.00	2.67	(5.35)	12.29
F	1.38	(0.08)	0.00	(0.17)	0.00	0.00	2.38	(2.81)	11.21
T	0.97	0.08	0.06	0.24	1.10	(1.04)	1.91	(1.84)	7.96
A	1.21	0.03	0.01	0.09	1.45	(1.33)	2.72	(2.42)	8.06
CRM	1.41	0.17	0.10	0.79	1.45	(1.59)	3.16	(2.88)	14.80
JPM	1.03	0.25	0.17	1.11	1.11	(1.17)	1.92	(1.42)	15.87
MRK	1.00	(0.17)	0.00	(0.68)	0.00	0.00	1.74	(2.17)	5.17
XOM	0.76	(0.15)	0.00	(0.37)	0.00	0.00	1.71	(1.67)	6.06

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