IShares Trust Correlations

IBID Etf

25.89 0.02 0.08%

The current 90-days correlation between iShares Trust and Principal Quality ETF is -0.2 (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.

IShares Trust Correlation With Market

Very poor diversification

The correlation between iShares Trust and DJI is 0.85 (i.e., Very poor 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.

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 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 gross domestic product.

For information on how to trade IShares Etf refer to our How to Trade IShares Etf guide.

Moving together with IShares Etf

0.66	BSCQ	Invesco BulletShares 2026	Pair Corr
0.66	IBDR	iShares iBonds Dec	Pair Corr
0.62	IBDS	iShares iBonds Dec	Pair Corr
0.82	ITWO	Proshares Russell 2000	Pair Corr
0.8	AMPD	Tidal ETF Services	Pair Corr
0.88	CPST	Calamos ETF Trust	Pair Corr
0.89	SCDV	ETF Series Solutions	Pair Corr
0.61	BSMS	Invesco BulletShares 2028	Pair Corr
0.95	JPIE	JP Morgan Exchange	Pair Corr
0.88	UMAY	Innovator ETFs Trust	Pair Corr
0.61	FIDU	Fidelity MSCI Industrials	Pair Corr
0.84	LSEQ	Harbor ETF Trust	Pair Corr
0.78	TLCI	Touchstone ETF Trust	Pair Corr
0.64	WDNA	WisdomTree BioRevolution	Pair Corr
0.71	CTEX	ProShares SP Kensho	Pair Corr
0.64	ESML	iShares ESG Aware	Pair Corr
0.88	GAPR	First Trust Exchange	Pair Corr
0.65	VGUS	Vanguard Ultra Short	Pair Corr
0.95	TAXT	Northern Trust Tax	Pair Corr
0.9	EWT	iShares MSCI Taiwan	Pair Corr
0.64	VTHR	Vanguard Russell 3000	Pair Corr
0.93	XFIX	Fm Investments Symbol Change	Pair Corr
0.88	QLV	FlexShares Quality Low	Pair Corr
0.62	EMES	Harbor ETF Trust	Pair Corr
0.89	TOCT	Innovator Equity Defined	Pair Corr
0.87	NCPB	Nuveen Core Plus	Pair Corr
0.63	PCEM	Litman Gregory Funds	Pair Corr
0.63	SCZ	iShares MSCI EAFE	Pair Corr
0.93	CCNR	CoreCommodity Natural	Pair Corr
0.65	GOOX	Etf Opportunities Trust	Pair Corr

Moving against IShares Etf

0.71

MPAY

Exchange Traded Concepts

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.46	0.43	0.16	-0.53	-0.1	0.33	0.48	0.43	META
MSFT	-0.41		0.8	-0.53	-0.65	0.71	0.81	0.06	-0.85	-0.91	MSFT
UBER	-0.46	0.8		-0.46	-0.48	0.78	0.53	-0.09	-0.8	-0.74	UBER
F	0.43	-0.53	-0.46		0.06	-0.41	-0.23	0.3	0.68	0.6	F
T	0.16	-0.65	-0.48	0.06		-0.39	-0.75	-0.13	0.4	0.58	T
A	-0.53	0.71	0.78	-0.41	-0.39		0.48	-0.04	-0.63	-0.78	A
CRM	-0.1	0.81	0.53	-0.23	-0.75	0.48		0.44	-0.56	-0.81	CRM
JPM	0.33	0.06	-0.09	0.3	-0.13	-0.04	0.44		0.21	-0.08	JPM
MRK	0.48	-0.85	-0.8	0.68	0.4	-0.63	-0.56	0.21		0.82	MRK
XOM	0.43	-0.91	-0.74	0.6	0.58	-0.78	-0.81	-0.08	0.82		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	+ 0.82	MRK
CRM	+ 0.81	MSFT
UBER	+ 0.8	MSFT
A	+ 0.78	UBER
A	+ 0.71	MSFT
MRK	+ 0.68	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.85	MSFT
XOM	- 0.81	CRM
MRK	- 0.8	UBER
XOM	- 0.78	A
CRM	- 0.75	T

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	1.51	0.00	(0.02)	0.06	1.53	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.36)	0.00	(0.92)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.50	(0.46)	0.00	(0.90)	0.00	0.00	2.41	(3.82)	11.09
F	1.22	0.07	0.05	0.14	1.20	(1.48)	3.34	(2.30)	7.16
T	1.02	0.23	0.17	3.71	0.77	(1.19)	3.87	(1.54)	5.31
A	1.27	(0.30)	0.00	(0.17)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.68	(0.41)	0.00	(0.35)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.15)	0.00	(0.04)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.35	0.49	0.35	0.77	0.97	(1.72)	3.59	(1.98)	8.74
XOM	1.24	0.36	0.22	1.65	1.11	(1.42)	2.68	(2.12)	6.83

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