IShares Europe Correlations

IEV Etf

USD 52.84 0.12 0.23%

The current 90-days correlation between iShares Europe ETF and iShares MSCI Pacific is 0.84 (i.e., Very poor diversification). The correlation of IShares Europe 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 Europe Correlation With Market

Weak diversification

The correlation between iShares Europe ETF and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Europe ETF 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 Europe ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with IShares Etf

1.0	VGK	Vanguard FTSE Europe Sell-off Trend	Pair Corr
0.98	EZU	iShares MSCI Eurozone	Pair Corr
1.0	BBEU	JPMorgan BetaBuilders	Pair Corr
1.0	IEUR	iShares Core MSCI	Pair Corr
0.97	FEZ	SPDR EURO STOXX Sell-off Trend	Pair Corr
0.73	HEDJ	WisdomTree Europe Hedged	Pair Corr
0.8	DBEU	Xtrackers MSCI Europe	Pair Corr
0.83	FEP	First Trust Europe	Pair Corr
0.83	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.64	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.75	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.87	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against IShares Etf

0.86	MEME	Roundhill Investments	Pair Corr
0.83	STCE	Schwab Strategic Trust	Pair Corr
0.82	RSPY	Tuttle Capital Management	Pair Corr
0.77	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.74	DSJA	DSJA	Pair Corr
0.6	VOO	Vanguard SP 500	Pair Corr
0.6	SPY	SPDR SP 500	Pair Corr
0.56	PPA	Invesco Aerospace Defense	Pair Corr
0.86	BAC	Bank of America Aggressive Push	Pair Corr
0.81	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.77	DIS	Walt Disney Aggressive Push	Pair Corr
0.75	WMT	Walmart Aggressive Push	Pair Corr
0.72	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.7	CSCO	Cisco Systems	Pair Corr
0.69	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.63	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.56	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.5	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr

Related Correlations Analysis

	EZU	EPP	ILF	EWQ	EWU
EZU		0.29	0.88	0.98	0.9	EZU
EPP	0.29		0.07	0.16	0.1	EPP
ILF	0.88	0.07		0.91	0.87	ILF
EWQ	0.98	0.16	0.91		0.92	EWQ
EWU	0.9	0.1	0.87	0.92		EWU
	EZU	EPP	ILF	EWQ	EWU

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IShares Europe Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Europe 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 Europe'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
EZU	0.78	(0.14)	0.00	(0.24)	0.00	0.00	1.69	(1.85)	5.53
EPP	0.78	0.03	(0.01)	0.15	0.76	(0.94)	2.34	(1.49)	4.70
ILF	0.80	(0.19)	0.00	(0.28)	0.00	0.00	1.32	(1.85)	4.46
EWQ	0.80	(0.18)	0.00	(0.27)	0.00	0.00	1.87	(1.98)	5.71
EWU	0.62	(0.08)	0.00	0.85	0.00	0.00	1.04	(1.20)	3.60

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