IShares Correlations

IDAT Etf

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The current 90-days correlation between IShares and IShares is -0.13 (i.e., Good diversification). The correlation of IShares 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 Correlation With Market

Good diversification

The correlation between IShares and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IShares 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. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with IShares Etf

0.64	AGQ	ProShares Ultra Silver	Pair Corr
0.63	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.67	AXP	American Express	Pair Corr
0.81	PFE	Pfizer Inc	Pair Corr
0.61	KO	Coca Cola Aggressive Push	Pair Corr
0.86	MRK	Merck Company	Pair Corr
0.77	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.7	BAC	Bank of America Earnings Call Today	Pair Corr
0.88	CSCO	Cisco Systems	Pair Corr
0.88	JNJ	Johnson Johnson Earnings Call This Week	Pair Corr
0.76	CAT	Caterpillar	Pair Corr

Moving against IShares Etf

0.92	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.9	DAPP	VanEck Digital Trans	Pair Corr
0.88	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.82	IGV	iShares Expanded Tech	Pair Corr
0.77	FDN	First Trust Dow	Pair Corr
0.76	CIBR	First Trust NASDAQ	Pair Corr
0.7	FBL	GraniteShares 15x Long	Pair Corr
0.51	NVDL	GraniteShares 15x Long	Pair Corr
0.51	FNGO	MicroSectors FANG Index	Pair Corr
0.51	FNGG	Direxion Daily Select	Pair Corr
0.5	BULZ	MicroSectors Solactive	Pair Corr
0.86	MSFT	Microsoft	Pair Corr
0.79	HD	Home Depot	Pair Corr
0.67	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	IWTR	ERM	BKUS	PLAT	HART	HCOM	ONG	EEMD	BKIS	APRD
IWTR		0.0	0.0	0.0	0.27	-0.1	0.0	0.0	0.0	0.79	IWTR
ERM	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	ERM
BKUS	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	BKUS
PLAT	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	PLAT
HART	0.27	0.0	0.0	0.0		-0.21	0.0	0.0	0.0	0.0	HART
HCOM	-0.1	0.0	0.0	0.0	-0.21		0.0	0.0	0.0	-0.14	HCOM
ONG	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	ONG
EEMD	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	EEMD
BKIS	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	BKIS
APRD	0.79	0.0	0.0	0.0	0.0	-0.14	0.0	0.0	0.0		APRD
	IWTR	ERM	BKUS	PLAT	HART	HCOM	ONG	EEMD	BKIS	APRD

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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

APRD	+ 0.79	IWTR
HART	+ 0.27	IWTR
ERM	+ 0.0	IWTR
BKUS	+ 0.0	IWTR
PLAT	+ 0.0	IWTR
ONG	+ 0.0	IWTR

High negative correlations

HCOM	- 0.21	HART
APRD	- 0.14	HCOM
HCOM	- 0.1	IWTR
APRD	- 0.0	BKIS
APRD	- 0.0	EEMD
BKIS	- 0.0	EEMD

IShares Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares 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' 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
IWTR	0.56	0.09	0.02	3.33	0.43	(0.67)	1.45	(0.85)	3.55
ERM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BKUS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PLAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HART	0.74	0.07	(0.02)	(0.68)	0.85	(0.76)	1.54	(1.40)	4.54
HCOM	0.36	(0.02)	0.00	(1.32)	0.00	0.00	1.26	(1.10)	3.50
ONG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EEMD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BKIS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
APRD	0.05	0.01	(0.67)	7.30	0.00	(0.10)	0.16	(0.08)	0.41

IShares Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with IShares etf to make a market-neutral strategy. Peer analysis of IShares could also be used in its relative valuation, which is a method of valuing IShares by comparing valuation metrics with similar companies.

IShares First Trust BKUS PLAT New York Life Hartford Funds Direxion Advisors Asset Management BKIS Innovator Capital Management American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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