IShares Expanded Correlations

IGV Etf

USD 97.71 0.77 0.79%

The current 90-days correlation between iShares Expanded Tech and iShares MSCI Eurozone is 0.45 (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

Good diversification

The correlation between iShares Expanded Tech Software and DJI is -0.09 (i.e., Good 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

0.66	VGT	Vanguard Information	Pair Corr
0.65	XLK	Technology Select Sector	Pair Corr
0.68	IYW	iShares Technology ETF	Pair Corr
0.91	CIBR	First Trust NASDAQ	Pair Corr
0.75	FTEC	Fidelity MSCI Information	Pair Corr
0.94	FDN	First Trust Dow	Pair Corr
0.65	IBM	International Business Earnings Call This Week	Pair Corr

Moving against IShares Etf

0.64	TOAK	Manager Directed Por	Pair Corr
0.46	FB	ProShares Trust ProShares	Pair Corr
0.32	SOXX	iShares Semiconductor ETF	Pair Corr
0.32	VB	Vanguard Small Cap	Pair Corr
0.32	VEA	Vanguard FTSE Developed	Pair Corr
0.54	JNJ	Johnson Johnson	Pair Corr
0.49	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.47	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.47	KO	Coca Cola Aggressive Push	Pair Corr
0.45	MRK	Merck Company	Pair Corr
0.43	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.37	AA	Alcoa Corp	Pair Corr
0.33	PFE	Pfizer Inc Sell-off Trend	Pair Corr
0.31	INTC	Intel Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ESGD	EFG	VONE	AVUS	QLD	MGV	DUHP	SCZ	INDA	EZU
ESGD		0.95	0.85	0.95	0.32	0.96	0.85	0.98	-0.6	0.99	ESGD
EFG	0.95		0.85	0.88	0.49	0.85	0.85	0.92	-0.52	0.91	EFG
VONE	0.85	0.85		0.94	0.71	0.78	0.98	0.83	-0.38	0.85	VONE
AVUS	0.95	0.88	0.94		0.46	0.94	0.92	0.95	-0.58	0.95	AVUS
QLD	0.32	0.49	0.71	0.46		0.15	0.67	0.27	0.01	0.29	QLD
MGV	0.96	0.85	0.78	0.94	0.15		0.78	0.97	-0.66	0.96	MGV
DUHP	0.85	0.85	0.98	0.92	0.67	0.78		0.83	-0.35	0.85	DUHP
SCZ	0.98	0.92	0.83	0.95	0.27	0.97	0.83		-0.64	0.98	SCZ
INDA	-0.6	-0.52	-0.38	-0.58	0.01	-0.66	-0.35	-0.64		-0.59	INDA
EZU	0.99	0.91	0.85	0.95	0.29	0.96	0.85	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

EZU	+ 0.99	ESGD
SCZ	+ 0.98	ESGD
DUHP	+ 0.98	VONE
EZU	+ 0.98	SCZ
SCZ	+ 0.97	MGV
MGV	+ 0.96	ESGD

High negative correlations

INDA	- 0.66	MGV
INDA	- 0.64	SCZ
INDA	- 0.6	ESGD
EZU	- 0.59	INDA
INDA	- 0.58	AVUS
INDA	- 0.52	EFG

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	0.57	0.03	0.02	0.11	0.62	(0.60)	1.17	(1.29)	3.04
EFG	0.63	(0.01)	(0.03)	0.05	0.82	(0.61)	1.23	(1.45)	3.55
VONE	0.56	(0.05)	(0.07)	0.01	0.82	(0.53)	1.12	(1.22)	3.57
AVUS	0.58	(0.01)	(0.02)	0.06	0.76	(0.58)	1.29	(1.25)	3.18
QLD	1.53	(0.16)	0.00	(0.03)	0.00	0.00	2.63	(4.10)	9.37
MGV	0.53	0.03	0.02	0.11	0.45	(0.62)	1.21	(0.96)	2.61
DUHP	0.49	(0.05)	(0.10)	(0.01)	0.71	(0.44)	1.15	(1.13)	3.05
SCZ	0.56	0.06	0.05	0.16	0.55	(0.58)	1.18	(1.11)	2.91
INDA	0.54	(0.11)	0.00	(0.40)	0.00	0.00	0.77	(1.01)	3.75
EZU	0.60	0.04	0.03	0.12	0.62	(0.67)	1.16	(1.24)	3.46

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