IShares Global Correlations

IGIL Etf

167.73 0.54 0.32%

The current 90-days correlation between iShares Global Inflation and GraniteShares 3x Long is 0.19 (i.e., Average diversification). The correlation of IShares Global 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 Global Correlation With Market

Very poor diversification

The correlation between iShares Global Inflation and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Global Inflation and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares Global 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 Global 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 Global - 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 Global Inflation to buy it.

Moving together with IShares Etf

0.92	VWCG	Vanguard FTSE Developed	Pair Corr
0.75	AASG	Amundi Index Solutions	Pair Corr
0.86	AASU	Amundi Index Solutions	Pair Corr
0.87	XSNR	Xtrackers Stoxx	Pair Corr
0.89	RMAP	Royal Mint Responsibly	Pair Corr
0.86	UIND	First Trust Equity	Pair Corr
0.91	SDG9	Xtrackers MSCI Global	Pair Corr
0.87	AIGC	WisdomTree Broad Com	Pair Corr
0.88	WNDU	SPDR MSCI World	Pair Corr
0.82	N4US	Invesco JPX Nikkei	Pair Corr
0.64	FTWG	Invesco FTSE All	Pair Corr
0.85	2MU	Leverage Shares 2x	Pair Corr
0.84	XMLA	Xtrackers MSCI EM	Pair Corr
0.88	HSEM	HSBC Emerging Market	Pair Corr
0.71	VAGU	Vanguard Global Aggregate	Pair Corr
0.87	XMMD	Xtrackers MSCI	Pair Corr
0.82	LEMV	Ossiam Europe ESG	Pair Corr
0.83	SPUT	Sprott Physical Uranium	Pair Corr
0.85	RTWO	LG Russell 2000	Pair Corr
0.87	KOR3	Leverage Shares 3x	Pair Corr
0.77	500U	Amundi Index Solutions	Pair Corr
0.83	VHYG	Vanguard FTSE All	Pair Corr
0.66	ESUD	Invesco MSCI USA	Pair Corr
0.81	SJNK	SSgA SPDR ETFs	Pair Corr
0.78	VUAA	Vanguard SP 500	Pair Corr
0.67	XRES	Source Real Estate	Pair Corr
0.88	CBND	Goldman Sachs Access	Pair Corr
0.78	GLRE	SPDR Dow Jones	Pair Corr
0.63	LITM	iShares Lithium Battery	Pair Corr
0.87	CLMU	Lyxor Green Bond	Pair Corr
0.8	GDX3	Leverage Shares 3x	Pair Corr
0.76	ASHR	Xtrackers Harvest CSI300	Pair Corr
0.64	LSIL	WisdomTree Silver	Pair Corr
0.74	ARMR	GLOBAL X ETFS	Pair Corr

Moving against IShares Etf

0.49

AAP2

Leverage Shares 2x

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.46	0.43	0.16	-0.53	-0.1	0.33	0.48	0.43	META
MSFT	-0.41		0.8	-0.53	-0.65	0.71	0.81	0.06	-0.85	-0.91	MSFT
UBER	-0.46	0.8		-0.46	-0.48	0.78	0.53	-0.09	-0.8	-0.74	UBER
F	0.43	-0.53	-0.46		0.06	-0.41	-0.23	0.3	0.68	0.6	F
T	0.16	-0.65	-0.48	0.06		-0.39	-0.75	-0.13	0.4	0.58	T
A	-0.53	0.71	0.78	-0.41	-0.39		0.48	-0.04	-0.63	-0.78	A
CRM	-0.1	0.81	0.53	-0.23	-0.75	0.48		0.44	-0.56	-0.81	CRM
JPM	0.33	0.06	-0.09	0.3	-0.13	-0.04	0.44		0.21	-0.08	JPM
MRK	0.48	-0.85	-0.8	0.68	0.4	-0.63	-0.56	0.21		0.82	MRK
XOM	0.43	-0.91	-0.74	0.6	0.58	-0.78	-0.81	-0.08	0.82		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.82	MRK
CRM	+ 0.81	MSFT
UBER	+ 0.8	MSFT
A	+ 0.78	UBER
A	+ 0.71	MSFT
MRK	+ 0.68	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.85	MSFT
XOM	- 0.81	CRM
MRK	- 0.8	UBER
XOM	- 0.78	A
CRM	- 0.75	T

IShares Global Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Global 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 Global'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
META	1.51	0.00	(0.02)	0.06	1.53	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.36)	0.00	(0.92)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.50	(0.46)	0.00	(0.90)	0.00	0.00	2.41	(3.82)	11.09
F	1.22	0.07	0.05	0.14	1.20	(1.48)	3.34	(2.30)	7.16
T	1.02	0.23	0.17	3.71	0.77	(1.19)	3.87	(1.54)	5.31
A	1.27	(0.30)	0.00	(0.17)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.68	(0.41)	0.00	(0.35)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.15)	0.00	(0.04)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.35	0.49	0.35	0.77	0.97	(1.72)	3.59	(1.98)	8.74
XOM	1.24	0.36	0.22	1.65	1.11	(1.42)	2.68	(2.12)	6.83

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