IShares Expanded Correlations

IGV Etf

USD 78.41 1.47 1.91%

The current 90-days correlation between iShares Expanded Tech and iShares MSCI Eurozone is 0.43 (i.e., Very weak diversification). The correlation of IShares Expanded 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 Expanded Correlation With Market

Excellent diversification

The correlation between iShares Expanded Tech Software and DJI is -0.55 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Expanded Tech Software and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IShares Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iShares Expanded Tech Software. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with IShares Etf

0.69	IYW	iShares Technology ETF	Pair Corr
0.95	CIBR	First Trust NASDAQ	Pair Corr
0.94	FDN	First Trust Dow	Pair Corr
0.67	IGM	iShares Expanded Tech	Pair Corr
0.69	MPAY	Exchange Traded Concepts	Pair Corr

Moving against IShares Etf

0.88	BSMS	Invesco BulletShares 2028	Pair Corr
0.76	ELON	Battleshares TSLA	Pair Corr
0.75	AMPD	Tidal ETF Services	Pair Corr
0.73	SOXX	iShares Semiconductor ETF	Pair Corr
0.69	SMH	VanEck Semiconductor ETF	Pair Corr
0.55	CPST	Calamos ETF Trust	Pair Corr
0.52	ITWO	Proshares Russell 2000	Pair Corr
0.42	UAUG	Innovator Equity Ultra	Pair Corr
0.92	NDIV	Amplify ETF Trust	Pair Corr
0.87	DXJ	WisdomTree Japan Hedged	Pair Corr
0.87	SPDV	AAM SP 500	Pair Corr
0.86	TAXT	Northern Trust Tax	Pair Corr
0.85	PID	Invesco International	Pair Corr
0.84	UEVM	VictoryShares Emerging	Pair Corr
0.82	DFIC	Dimensional International	Pair Corr
0.81	LALT	Invesco Multi Strategy	Pair Corr
0.76	FNK	First Trust Mid	Pair Corr
0.72	KNGZ	First Trust Exchange	Pair Corr
0.72	FNDA	Schwab Fundamental Small	Pair Corr
0.67	AUMI	Themes Gold Miners	Pair Corr
0.62	ETHO	Amplify Etho Climate	Pair Corr
0.61	PSMR	Pacer Swan SOS	Pair Corr
0.54	NAPR	Innovator Nasdaq 100	Pair Corr
0.39	IDRV	iShares Self Driving	Pair Corr
0.92	ERET	iShares Environmentally	Pair Corr
0.91	EMIF	iShares Emerging Markets	Pair Corr
0.91	GCAL	Goldman Sachs ETF	Pair Corr
0.89	DVYE	iShares Emerging Markets	Pair Corr
0.87	VYMI	Vanguard International	Pair Corr
0.83	FEM	First Trust Emerging	Pair Corr

Related Correlations Analysis

	ESGD	EFG	VONE	AVUS	QLD	MGV	DUHP	SCZ	INDA	EZU
ESGD		0.98	0.69	0.94	-0.04	0.98	0.93	1.0	-0.55	0.99	ESGD
EFG	0.98		0.76	0.93	0.08	0.94	0.92	0.98	-0.59	0.98	EFG
VONE	0.69	0.76		0.79	0.65	0.65	0.84	0.69	-0.47	0.77	VONE
AVUS	0.94	0.93	0.79		0.13	0.92	0.92	0.94	-0.6	0.96	AVUS
QLD	-0.04	0.08	0.65	0.13		-0.13	0.19	-0.05	-0.19	0.07	QLD
MGV	0.98	0.94	0.65	0.92	-0.13		0.92	0.98	-0.52	0.96	MGV
DUHP	0.93	0.92	0.84	0.92	0.19	0.92		0.92	-0.44	0.94	DUHP
SCZ	1.0	0.98	0.69	0.94	-0.05	0.98	0.92		-0.58	0.98	SCZ
INDA	-0.55	-0.59	-0.47	-0.6	-0.19	-0.52	-0.44	-0.58		-0.59	INDA
EZU	0.99	0.98	0.77	0.96	0.07	0.96	0.94	0.98	-0.59		EZU
	ESGD	EFG	VONE	AVUS	QLD	MGV	DUHP	SCZ	INDA	EZU

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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

SCZ	+ 1.0	ESGD
EZU	+ 0.99	ESGD
EFG	+ 0.98	ESGD
MGV	+ 0.98	ESGD
SCZ	+ 0.98	EFG
EZU	+ 0.98	EFG

High negative correlations

INDA	- 0.6	AVUS
EZU	- 0.59	INDA
INDA	- 0.59	EFG
INDA	- 0.58	SCZ
INDA	- 0.55	ESGD
INDA	- 0.52	MGV

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ESGD	0.59	0.13	0.14	0.23	0.49	(0.64)	1.32	(1.29)	3.31
EFG	0.69	0.07	0.07	0.15	0.78	(0.70)	1.37	(1.45)	3.83
VONE	0.55	(0.01)	(0.03)	0.05	0.72	(0.58)	1.12	(1.24)	3.70
AVUS	0.57	0.11	0.06	(1.65)	0.63	(0.60)	1.34	(1.25)	3.61
QLD	1.53	(0.13)	0.00	(0.02)	0.00	0.00	2.63	(3.88)	9.37
MGV	0.52	0.11	0.17	0.21	0.29	(0.63)	1.24	(0.97)	2.89
DUHP	0.51	0.01	(0.01)	0.08	0.65	(0.48)	1.16	(1.12)	3.94
SCZ	0.58	0.16	0.18	0.30	0.47	(0.65)	1.39	(1.23)	3.40
INDA	0.63	(0.09)	0.00	(0.15)	0.00	0.00	0.94	(1.52)	4.89
EZU	0.62	0.12	0.14	0.23	0.47	(0.71)	1.54	(1.22)	3.46

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