IShares Expanded Correlations

IGV Etf

USD 80.78 1.00 1.22%

The current 90-days correlation between iShares Expanded Tech and iShares Russell Mid Cap is 0.66 (i.e., Poor 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 -0.57 (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

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

Moving against IShares Etf

0.76	ELON	Battleshares TSLA	Pair Corr
0.75	AMPD	Tidal ETF Services	Pair Corr
0.72	SOXX	iShares Semiconductor ETF	Pair Corr
0.68	SMH	VanEck Semiconductor ETF	Pair Corr
0.56	CPST	Calamos ETF Trust	Pair Corr
0.53	ITWO	Proshares Russell 2000	Pair Corr
0.46	FB	ProShares Trust ProShares	Pair Corr
0.96	DOGG	First Trust Exchange	Pair Corr
0.87	STXE	EA Series Trust	Pair Corr
0.87	UDI	USCF ETF Trust	Pair Corr
0.86	BSMS	Invesco BulletShares 2028	Pair Corr
0.85	TAXT	Northern Trust Tax	Pair Corr
0.84	CCNR	CoreCommodity Natural	Pair Corr
0.84	FNDC	Schwab Fundamental	Pair Corr
0.82	TERG	Leverage Shares 2X	Pair Corr
0.81	XFIX	Fm Investments Symbol Change	Pair Corr
0.76	EURL	Direxion Daily FTSE	Pair Corr
0.76	IAUM	iShares Gold Trust	Pair Corr
0.74	IRTR	iShares Trust	Pair Corr
0.69	FPXE	First Trust IPOX	Pair Corr
0.66	IQSZ	Invesco Actively Managed	Pair Corr
0.63	PFFA	Virtus InfraCap Preferred	Pair Corr
0.55	WDNA	WisdomTree BioRevolution	Pair Corr
0.54	FXC	Invesco CurrencyShares	Pair Corr
0.93	WEBS	Direxion Daily Dow	Pair Corr
0.91	LVHI	Franklin International	Pair Corr
0.89	SCDV	ETF Series Solutions	Pair Corr
0.86	BMVP	Invesco Bloomberg MVP	Pair Corr
0.82	EWT	iShares MSCI Taiwan	Pair Corr
0.8	NCPB	Nuveen Core Plus	Pair Corr

Related Correlations Analysis

	IWY	IWS	IWV	IWO	IWP	DGRW	ESGU	IWN	ITA	IUSV
IWY		-0.47	0.17	0.02	0.73	-0.38	0.37	-0.44	-0.4	-0.41	IWY
IWS	-0.47		0.79	0.81	0.09	0.96	0.64	0.99	0.9	0.98	IWS
IWV	0.17	0.79		0.92	0.58	0.8	0.98	0.8	0.74	0.82	IWV
IWO	0.02	0.81	0.92		0.58	0.74	0.85	0.85	0.8	0.79	IWO
IWP	0.73	0.09	0.58	0.58		0.05	0.68	0.12	0.19	0.1	IWP
DGRW	-0.38	0.96	0.8	0.74	0.05		0.68	0.93	0.82	0.97	DGRW
ESGU	0.37	0.64	0.98	0.85	0.68	0.68		0.66	0.61	0.69	ESGU
IWN	-0.44	0.99	0.8	0.85	0.12	0.93	0.66		0.88	0.97	IWN
ITA	-0.4	0.9	0.74	0.8	0.19	0.82	0.61	0.88		0.88	ITA
IUSV	-0.41	0.98	0.82	0.79	0.1	0.97	0.69	0.97	0.88		IUSV
	IWY	IWS	IWV	IWO	IWP	DGRW	ESGU	IWN	ITA	IUSV

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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

IWN	+ 0.99	IWS
IUSV	+ 0.98	IWS
ESGU	+ 0.98	IWV
IUSV	+ 0.97	DGRW
IUSV	+ 0.97	IWN
DGRW	+ 0.96	IWS

High negative correlations

IWS	- 0.47	IWY
IWN	- 0.44	IWY
IUSV	- 0.41	IWY
ITA	- 0.4	IWY
DGRW	- 0.38	IWY

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
IWY	0.72	(0.12)	0.00	(0.09)	0.00	0.00	1.28	(1.86)	4.74
IWS	0.63	0.10	0.13	0.17	0.47	(0.72)	1.63	(1.24)	3.81
IWV	0.56	(0.01)	(0.03)	0.05	0.70	(0.58)	1.22	(1.25)	3.70
IWO	1.02	0.03	0.04	0.09	1.12	(1.03)	2.02	(1.93)	6.58
IWP	0.80	(0.09)	0.00	(0.01)	0.00	0.00	1.41	(1.87)	5.81
DGRW	0.44	0.02	0.00	0.10	0.48	(0.48)	1.12	(0.96)	3.12
ESGU	0.57	(0.03)	(0.05)	0.04	0.77	(0.56)	1.00	(1.24)	3.75
IWN	0.80	0.14	0.16	0.20	0.66	(0.93)	2.39	(1.52)	4.66
ITA	1.09	0.19	0.14	0.29	1.08	(1.17)	2.55	(2.15)	6.18
IUSV	0.50	0.03	0.02	0.11	0.48	(0.56)	1.08	(1.11)	3.07

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