IShares Core Correlations

IEGA Etf

EUR 110.32 0.28 0.25%

The current 90-days correlation between iShares Core Govt and iShares MSCI Korea is -0.07 (i.e., Good diversification). The correlation of IShares Core 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 Core Correlation With Market

Very good diversification

The correlation between iShares Core Govt and DJI is -0.4 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Core Govt and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares Core could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IShares Core when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back IShares Core - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling iShares Core Govt to buy it.

Moving against IShares Etf

0.45	IUSA	iShares SP 500	Pair Corr
0.44	CSSPX	iShares Core SP	Pair Corr
0.41	IAUP	iShares Gold Producers	Pair Corr
0.4	SS1EUA	UBSFund Solutions	Pair Corr
0.36	MSE	Amundi EURO STOXX	Pair Corr
0.5	LYFINW	Lyxor MSCI World	Pair Corr
0.4	ESGO	AuAg Gold Mining	Pair Corr
0.37	HPAW	HSBC MSCI WORLD	Pair Corr
0.37	AFLT	Amundi Index Solutions	Pair Corr
0.35	PSRW	Invesco FTSE RAFI	Pair Corr
0.33	SXXEEX	iShares EURO STOXX	Pair Corr
0.33	LCEU	BNP Paribas Easy	Pair Corr
0.32	ZGLDEU	ZKB Gold ETF	Pair Corr
0.32	C50	Amundi Index Solutions	Pair Corr
0.31	SXLI	SPDR SP Industrials	Pair Corr
0.44	USGBPA	UBS ETF plc	Pair Corr
0.43	EMUEUA	UBSFund Solutions MSCI	Pair Corr
0.42	XSMI	Xtrackers Switzerland	Pair Corr
0.42	WRDUSW-USD	UBSETF MSCIWLD USDa	Pair Corr
0.41	SMICHA	UBS ETF SMI	Pair Corr
0.4	SMCX	SPDR MSCI Europe	Pair Corr

Related Correlations Analysis

	SGWS	IGEA	SEMI	CSUKX	30ID	IASP	IWDC	IUHC	IKOR
SGWS		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SGWS
IGEA	0.0		-0.81	-0.8	0.17	-0.85	-0.54	-0.34	-0.89	IGEA
SEMI	0.0	-0.81		0.93	-0.17	0.89	0.86	0.46	0.96	SEMI
CSUKX	0.0	-0.8	0.93		-0.23	0.89	0.82	0.51	0.93	CSUKX
30ID	0.0	0.17	-0.17	-0.23		-0.02	-0.15	-0.08	-0.14	30ID
IASP	0.0	-0.85	0.89	0.89	-0.02		0.69	0.5	0.94	IASP
IWDC	0.0	-0.54	0.86	0.82	-0.15	0.69		0.58	0.74	IWDC
IUHC	0.0	-0.34	0.46	0.51	-0.08	0.5	0.58		0.42	IUHC
IKOR	0.0	-0.89	0.96	0.93	-0.14	0.94	0.74	0.42		IKOR
	SGWS	IGEA	SEMI	CSUKX	30ID	IASP	IWDC	IUHC	IKOR

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

IKOR	+ 0.96	SEMI
IKOR	+ 0.94	IASP
CSUKX	+ 0.93	SEMI
IKOR	+ 0.93	CSUKX
IASP	+ 0.89	SEMI
IASP	+ 0.89	CSUKX

High negative correlations

IKOR	- 0.89	IGEA
IASP	- 0.85	IGEA
SEMI	- 0.81	IGEA
CSUKX	- 0.8	IGEA
IWDC	- 0.54	IGEA
IUHC	- 0.34	IGEA

IShares Core Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Core 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 Core'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
SGWS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IGEA	0.30	(0.10)	0.00	(0.88)	0.00	0.00	0.54	(0.87)	2.10
SEMI	1.62	0.32	0.13	0.92	1.84	(1.78)	4.33	(2.59)	10.84
CSUKX	0.56	0.10	0.06	(1.11)	0.48	(0.61)	1.23	(1.02)	2.71
30ID	0.08	0.00	(0.16)	(1.80)	0.13	(0.20)	0.19	(0.19)	1.32
IASP	0.36	0.13	0.13	10.81	0.00	(0.71)	1.27	(0.66)	2.47
IWDC	0.51	0.02	(0.04)	0.17	0.62	(0.53)	1.27	(1.08)	3.44
IUHC	0.70	0.12	0.09	1.16	0.58	(0.83)	2.08	(1.17)	3.95
IKOR	1.69	0.61	0.22	(2.83)	1.47	(2.29)	4.30	(2.47)	14.94

Be your own money manager

Our tools can tell you how much better you can do entering a position in IShares Core without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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