IShares Expanded Correlations

IGV Etf

USD 105.69 1.30 1.22%

The current 90-days correlation between iShares Expanded Tech and iShares MSCI Eurozone is 0.53 (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

Poor diversification

The correlation between iShares Expanded Tech Software and DJI is 0.6 (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 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 price.

Moving together with IShares Etf

0.66	VGT	Vanguard Information	Pair Corr
0.92	CIBR	First Trust NASDAQ	Pair Corr
0.64	FTEC	Fidelity MSCI Information	Pair Corr
0.96	FDN	First Trust Dow	Pair Corr

Moving against IShares Etf

0.44	SLX	VanEck Steel ETF	Pair Corr
0.41	GBUG	Sprott Active Gold	Pair Corr
0.4	ZJAN	Innovator Equity Defined	Pair Corr
0.39	SIXS	6 Meridian Small	Pair Corr
0.39	XSVN	Bondbloxx ETF Trust	Pair Corr
0.37	AMPD	Tidal ETF Services	Pair Corr
0.33	SMLV	SPDR SSGA Small	Pair Corr
0.71	PHT	PHT	Pair Corr
0.62	FROG	Jfrog	Pair Corr
0.58	CLOX	Series Portfolios Trust	Pair Corr
0.53	MYCI	SPDR SSGA My2029	Pair Corr
0.46	HYSD	Columbia ETF Trust	Pair Corr
0.37	PBJA	PGIM Rock ETF	Pair Corr
0.37	FLCV	Federated Hermes ETF	Pair Corr
0.31	ECOW	Pacer Emerging Markets	Pair Corr
0.31	FTBI	First Trust Exchange	Pair Corr

Related Correlations Analysis

	ESGD	EFG	VONE	AVUS	QLD	MGV	DUHP	SCZ	INDA	EZU
ESGD		0.58	0.87	0.71	0.6	0.66	0.72	0.92	-0.06	0.73	ESGD
EFG	0.58		0.47	0.42	0.53	0.33	0.8	0.64	-0.08	0.59	EFG
VONE	0.87	0.47		0.79	0.86	0.59	0.74	0.78	0.05	0.59	VONE
AVUS	0.71	0.42	0.79		0.55	0.9	0.83	0.77	-0.07	0.87	AVUS
QLD	0.6	0.53	0.86	0.55		0.2	0.6	0.47	0.16	0.31	QLD
MGV	0.66	0.33	0.59	0.9	0.2		0.72	0.77	-0.12	0.91	MGV
DUHP	0.72	0.8	0.74	0.83	0.6	0.72		0.84	-0.12	0.83	DUHP
SCZ	0.92	0.64	0.78	0.77	0.47	0.77	0.84		-0.22	0.82	SCZ
INDA	-0.06	-0.08	0.05	-0.07	0.16	-0.12	-0.12	-0.22		-0.18	INDA
EZU	0.73	0.59	0.59	0.87	0.31	0.91	0.83	0.82	-0.18		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	+ 0.92	ESGD
EZU	+ 0.91	MGV
MGV	+ 0.9	AVUS
VONE	+ 0.87	ESGD
EZU	+ 0.87	AVUS
QLD	+ 0.86	VONE

High negative correlations

INDA	- 0.22	SCZ
EZU	- 0.18	INDA
INDA	- 0.12	DUHP
INDA	- 0.12	MGV
INDA	- 0.08	EFG
INDA	- 0.07	AVUS

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	0.56	0.02	0.02	0.09	0.72	(0.54)	1.10	(1.29)	2.70
EFG	0.65	(0.05)	(0.06)	0.00	0.99	(0.56)	1.04	(1.45)	3.04
VONE	0.58	(0.01)	(0.01)	0.05	0.89	(0.54)	1.17	(1.22)	3.27
AVUS	0.61	(0.01)	(0.01)	0.05	0.91	(0.57)	1.29	(1.25)	3.33
QLD	1.64	(0.03)	0.02	0.05	2.46	(1.57)	3.58	(4.10)	9.29
MGV	0.48	0.01	(0.02)	0.07	0.48	(0.57)	0.99	(0.96)	2.29
DUHP	0.50	(0.04)	(0.07)	0.01	0.73	(0.45)	1.08	(1.13)	2.56
SCZ	0.54	0.01	(0.01)	0.08	0.67	(0.53)	1.09	(1.11)	3.02
INDA	0.53	0.02	(0.04)	0.24	0.63	(0.51)	1.09	(0.93)	3.51
EZU	0.61	0.00	(0.02)	0.06	0.69	(0.66)	1.08	(1.24)	2.77

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