IShares Europe Correlations

Etfs . USA . 
Etf . iShares Europe ETF
IEV Etf  USD 53.53  0.29  0.54%   
The current 90-days correlation between iShares Europe ETF and iShares MSCI Pacific is 0.7 (i.e., 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

Average diversification

The correlation between iShares Europe ETF and DJI is 0.12 (i.e., Average 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

  1.0VGK Vanguard FTSE EuropePairCorr
  0.94EZU iShares MSCI EurozonePairCorr
  1.0BBEU JPMorgan BetaBuildersPairCorr
  1.0IEUR iShares Core MSCIPairCorr
  0.8FEZ SPDR EURO STOXXPairCorr
  0.97FEP First Trust EuropePairCorr
  0.72FNGD MicroSectors FANG IndexPairCorr

Moving against IShares Etf

  0.53WINN Harbor Long TermPairCorr
  0.8OLO Olo IncPairCorr
  0.77MINT PIMCO Enhanced ShortPairCorr
  0.73SEIX Virtus ETF TrustPairCorr
  0.71TSLL Direxion Shares ETF Buyout TrendPairCorr
  0.67XONE Bondbloxx Bloomberg OnePairCorr
  0.67NOVP PGIM Large CapPairCorr
  0.66QYLD Global X NASDAQPairCorr
  0.65IVES Amplify ETF Trust Symbol ChangePairCorr
  0.63RNSC First Trust Small Symbol ChangePairCorr
  0.61FLDR Fidelity Low DurationPairCorr
  0.58FETH Fidelity Advantage Ether Buyout TrendPairCorr
  0.57VUG Vanguard Growth IndexPairCorr
  0.56ARACX ARACXPairCorr
  0.54PTNQ Pacer Trendpilot 100PairCorr
  0.54XOUT GraniteShares XOUT LargePairCorr
  0.83GDXD MicroSectors Gold MinersPairCorr
  0.79JAAA Janus Detroit StreetPairCorr
  0.78BTC Grayscale Bitcoin MiniPairCorr
  0.75TSLY Tidal Trust IIPairCorr
  0.73ICSH iShares Ultra ShortPairCorr
  0.72NFLY Tidal Trust IIPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

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