IShares SP Correlations

IJS Etf

USD 121.01 0.22 0.18%

The current 90-days correlation between iShares SP Small and iShares SP Small Cap is -0.01 (i.e., Good 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

Almost no diversification

The correlation between iShares SP Small Cap and DJI is 0.93 (i.e., Almost no 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.

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 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 bureau of economic analysis.

Moving together with IShares Etf

1.0	VBR	Vanguard Small Cap	Pair Corr
0.99	IWN	iShares Russell 2000	Pair Corr
0.96	DFAT	Dimensional Targeted	Pair Corr
1.0	SLYV	SPDR SP 600	Pair Corr
0.99	AVUV	Avantis Small Cap	Pair Corr
0.95	DES	WisdomTree SmallCap	Pair Corr
0.99	MDYV	SPDR SP 400	Pair Corr
0.94	CALF	Pacer Small Cap Sell-off Trend	Pair Corr
0.94	REGL	ProShares SP MidCap	Pair Corr
0.85	TOT	Advisor Managed Port	Pair Corr
0.75	SHLD	Global X Defense	Pair Corr
0.86	FB	ProShares Trust ProShares	Pair Corr
0.93	SWP	SWP Growth Income	Pair Corr
0.62	FNGD	MicroSectors FANG Index	Pair Corr
0.89	CALY	Callaway Golf Symbol Change	Pair Corr
0.98	IWD	iShares Russell 1000	Pair Corr
0.83	JANH	Innovator Equity Premium	Pair Corr
0.85	LIT	Global X Lithium	Pair Corr
0.88	SGOL	abrdn Physical Gold	Pair Corr
0.9	SPVM	Invesco SP 500	Pair Corr
0.79	EEMX	SPDR MSCI Emerging	Pair Corr
0.96	LITL	Simplify Exchange Traded	Pair Corr
0.86	BA	Boeing	Pair Corr
0.68	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.88	WMT	Walmart Common Stock	Pair Corr
0.84	CAT	Caterpillar Earnings Call Tomorrow	Pair Corr
0.76	DD	Dupont De Nemours	Pair Corr

Moving against IShares Etf

0.77	T	ATT Inc Earnings Call Today	Pair Corr
0.71	MSFT	Microsoft Earnings Call Today	Pair Corr
0.66	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	IJT	IBB	IJJ	IXN	HEFA	URTH	ACWX	EWZ	IEUR	IGF
IJT		0.55	0.91	0.42	0.86	0.87	0.87	0.62	0.88	0.74	IJT
IBB	0.55		0.71	-0.15	0.68	0.58	0.59	0.75	0.66	0.7	IBB
IJJ	0.91	0.71		0.3	0.95	0.9	0.91	0.68	0.94	0.77	IJJ
IXN	0.42	-0.15	0.3		0.38	0.61	0.5	0.14	0.4	0.23	IXN
HEFA	0.86	0.68	0.95	0.38		0.92	0.96	0.71	0.97	0.76	HEFA
URTH	0.87	0.58	0.9	0.61	0.92		0.92	0.61	0.93	0.75	URTH
ACWX	0.87	0.59	0.91	0.5	0.96	0.92		0.76	0.98	0.83	ACWX
EWZ	0.62	0.75	0.68	0.14	0.71	0.61	0.76		0.74	0.86	EWZ
IEUR	0.88	0.66	0.94	0.4	0.97	0.93	0.98	0.74		0.84	IEUR
IGF	0.74	0.7	0.77	0.23	0.76	0.75	0.83	0.86	0.84		IGF
	IJT	IBB	IJJ	IXN	HEFA	URTH	ACWX	EWZ	IEUR	IGF

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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

IEUR	+ 0.98	ACWX
IEUR	+ 0.97	HEFA
ACWX	+ 0.96	HEFA
HEFA	+ 0.95	IJJ
IEUR	+ 0.94	IJJ
IEUR	+ 0.93	URTH

High negative correlations

IXN

- 0.15

IBB

IShares SP Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares SP 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 SP'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
IJT	0.81	0.06	0.01	0.28	0.93	(0.80)	1.66	(1.53)	4.91
IBB	0.93	0.17	0.14	0.34	0.76	(1.08)	2.41	(1.31)	5.75
IJJ	0.72	0.03	0.04	0.10	0.72	(0.83)	1.92	(1.27)	4.42
IXN	0.99	0.01	0.01	0.08	1.49	(0.88)	1.96	(2.76)	5.78
HEFA	0.49	0.06	0.05	0.15	0.55	(0.51)	1.28	(1.16)	3.53
URTH	0.53	0.03	0.01	0.10	0.76	(0.51)	1.09	(1.23)	3.32
ACWX	0.55	0.10	0.11	0.22	0.54	(0.60)	1.13	(1.22)	2.72
EWZ	1.08	0.36	0.19	0.59	1.37	(1.24)	2.83	(1.82)	9.25
IEUR	0.59	0.10	0.12	0.20	0.49	(0.68)	1.27	(1.14)	3.20
IGF	0.45	0.05	0.02	0.21	0.32	(0.50)	0.95	(0.77)	1.84

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