IShares Expanded Correlations

Etfs . USA . 
Etf . iShares Expanded Tech
IGM Etf  USD 100.95  0.08  0.08%   
The current 90-days correlation between iShares Expanded Tech and iShares Technology ETF is 0.99 (i.e., No risk reduction). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Expanded moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Expanded Tech moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Expanded Correlation With Market

Poor diversification

The correlation between iShares Expanded Tech and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Expanded Tech 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 Expanded Tech. 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.

Moving together with IShares Etf

  0.99VGT Vanguard InformationPairCorr
  0.98XLK Technology Select SectorPairCorr
  1.0IYW iShares Technology ETFPairCorr
  0.84SMH VanEck Semiconductor ETFPairCorr
  0.96CIBR First Trust NASDAQPairCorr
  0.99FTEC Fidelity MSCI InformationPairCorr
  0.89IGV iShares Expanded Tech Low VolatilityPairCorr
  0.95FDN First Trust DowPairCorr
  0.73DIG ProShares Ultra OilPairCorr
  0.92USD ProShares Ultra SemiPairCorr
  0.62SGG Barclays CapitalPairCorr
  0.85YCS ProShares UltraShort YenPairCorr
  0.86TBT ProShares UltraShortPairCorr
  0.81ATMP Barclays ETN Select Low VolatilityPairCorr
  0.65AMZA InfraCap MLP ETFPairCorr
  0.92AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.8BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.8HD Home DepotPairCorr
  0.8WMT Walmart Aggressive PushPairCorr
  0.72XOM Exxon Mobil Corp Sell-off TrendPairCorr
  0.87CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.73DIS Walt DisneyPairCorr
  0.66T ATT Inc Aggressive PushPairCorr

Moving against IShares Etf

  0.65NRGU Bank Of MontrealPairCorr
  0.82MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.75KO Coca Cola Aggressive PushPairCorr
  0.68BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.57PFE Pfizer Inc Aggressive PushPairCorr
  0.56PG Procter GamblePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

IShares Expanded Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Expanded 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 Expanded'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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