IShares SP Correlations

Etfs . USA . 
Etf . iShares SP Small Cap
IJS Etf  USD 115.66  1.94  1.71%   
The current 90-days correlation between iShares SP Small and Invesco SP SmallCap is 0.97 (i.e., Almost no diversification). The correlation of IShares SP 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 SP Correlation With Market

Very poor diversification

The correlation between iShares SP Small Cap and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares SP Small Cap 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 SP Small Cap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with IShares Etf

  0.97VBR Vanguard Small CapPairCorr
  1.0IWN iShares Russell 2000PairCorr
  0.99DFAT Dimensional TargetedPairCorr
  1.0SLYV SPDR SP 600PairCorr
  0.98AVUV Avantis Small CapPairCorr
  0.99DES WisdomTree SmallCapPairCorr
  0.85CALF Pacer Small Cap Low VolatilityPairCorr
  1.0VIOV Vanguard SP SmallPairCorr
  1.0VRTVX Vanguard Scottsdale FundsPairCorr
  0.87UPRO ProShares UltraPro SP500PairCorr
  0.81QTJA Innovator ETFs TrustPairCorr
  0.87QTOC Innovator ETFs TrustPairCorr
  0.89XTOC Innovator ETFs TrustPairCorr
  0.84QTAP Innovator Growth 100PairCorr
  0.72TSJA TSJAPairCorr
  0.82XTJA Innovator ETFs TrustPairCorr
  0.71DSJA DSJAPairCorr
  0.83XDJA Innovator ETFs TrustPairCorr
  0.87XTAP Innovator Equity AccPairCorr
  0.8INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.75WMT Walmart Aggressive PushPairCorr
  0.62CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.84JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.88BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.78DIS Walt DisneyPairCorr
  0.69TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.82CSCO Cisco Systems Aggressive PushPairCorr

Moving against IShares Etf

  0.75KO Coca Cola Aggressive PushPairCorr
  0.75JNJ Johnson Johnson Sell-off TrendPairCorr
  0.71MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr

Related Correlations Analysis

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