IShares Trust Correlations

IDGT Etf

79.45 1.88 2.42%

The current 90-days correlation between iShares Trust and First Trust Exchange Traded is 0.49 (i.e., Very weak 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

Weak diversification

The correlation between iShares Trust and DJI is 0.35 (i.e., Weak 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 price.

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

Moving together with IShares Etf

0.71	VGT	Vanguard Information	Pair Corr
0.74	XLK	Technology Select Sector	Pair Corr
0.72	IYW	iShares Technology ETF	Pair Corr
0.69	SMH	VanEck Semiconductor ETF	Pair Corr
0.66	CIBR	First Trust NASDAQ	Pair Corr
0.71	FTEC	Fidelity MSCI Information	Pair Corr
0.62	FDN	First Trust Dow	Pair Corr
0.71	IGM	iShares Expanded Tech	Pair Corr
0.66	USD	ProShares Ultra Semi Potential Growth	Pair Corr
0.68	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.81	HD	Home Depot	Pair Corr
0.66	WMT	Walmart Aggressive Push	Pair Corr
0.71	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.81	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.71	T	ATT Inc Aggressive Push	Pair Corr
0.69	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr

Moving against IShares Etf

0.75	NRGU	Bank Of Montreal	Pair Corr
0.58	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.49	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Related Correlations Analysis

	MDEV	MDST	MEDX	MEDI	MGNR	MISL	DPST	DRIP	DRLL
MDEV		-0.31	0.47	0.75	0.08	0.31	-0.45	0.21	-0.18	MDEV
MDST	-0.31		-0.89	-0.66	0.78	0.6	0.88	-0.72	0.77	MDST
MEDX	0.47	-0.89		0.84	-0.64	-0.34	-0.75	0.51	-0.59	MEDX
MEDI	0.75	-0.66	0.84		-0.26	-0.05	-0.63	0.33	-0.38	MEDI
MGNR	0.08	0.78	-0.64	-0.26		0.72	0.62	-0.68	0.73	MGNR
MISL	0.31	0.6	-0.34	-0.05	0.72		0.55	-0.51	0.55	MISL
DPST	-0.45	0.88	-0.75	-0.63	0.62	0.55		-0.66	0.66	DPST
DRIP	0.21	-0.72	0.51	0.33	-0.68	-0.51	-0.66		-0.98	DRIP
DRLL	-0.18	0.77	-0.59	-0.38	0.73	0.55	0.66	-0.98		DRLL
	MDEV	MDST	MEDX	MEDI	MGNR	MISL	DPST	DRIP	DRLL

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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

DPST	+ 0.88	MDST
MEDI	+ 0.84	MEDX
MGNR	+ 0.78	MDST
DRLL	+ 0.77	MDST
MEDI	+ 0.75	MDEV
DRLL	+ 0.73	MGNR

High negative correlations

DRLL	- 0.98	DRIP
MEDX	- 0.89	MDST
DPST	- 0.75	MEDX
DRIP	- 0.72	MDST
DRIP	- 0.68	MGNR
DRIP	- 0.66	DPST

IShares Trust Constituents 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
MDEV	0.59	(0.07)	0.00	(0.03)	0.00	0.00	1.37	(1.04)	3.02
MDST	0.67	0.11	0.09	0.30	0.51	(0.76)	1.61	(0.91)	4.07
MEDX	0.62	(0.28)	0.00	(0.43)	0.00	0.00	0.89	(1.65)	4.42
MEDI	0.76	(0.17)	0.00	(0.19)	0.00	0.00	1.25	(1.69)	5.09
MGNR	1.05	0.09	0.05	0.20	1.28	(1.17)	2.40	(2.00)	7.43
MISL	0.81	(0.06)	(0.04)	0.05	1.36	(0.82)	1.70	(1.89)	8.21
DPST	4.19	0.22	0.19	0.13	3.88	(5.05)	9.32	(5.98)	51.17
DRIP	2.43	(0.01)	0.00	0.11	0.00	0.00	5.12	(4.28)	18.28
DRLL	0.93	0.03	0.01	0.13	1.25	(0.91)	1.86	(2.04)	5.64

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