IShares Core Correlations

IMEU Etf

EUR 37.99 0.21 0.56%

The current 90-days correlation between iShares Core MSCI and Vanguard FTSE All World is 0.88 (i.e., Very poor diversification). The correlation of IShares Core 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 Core Correlation With Market

Almost no diversification

The correlation between iShares Core MSCI and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Core MSCI and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares Core could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IShares Core when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back IShares Core - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling iShares Core MSCI to buy it.

Moving together with IShares Etf

0.63	VUSA	Vanguard SP 500	Pair Corr
0.86	DIA	SPDR Dow Jones	Pair Corr
0.81	EMIM	iShares Core MSCI	Pair Corr
0.64	IUSA	iShares SP 500	Pair Corr
0.88	VWRL	Vanguard FTSE All	Pair Corr
0.88	CNYB	iShares China CNY	Pair Corr
0.86	IWRD	iShares MSCI World	Pair Corr
0.83	IEMM	iShares MSCI EM	Pair Corr
0.69	SXLF	SSgA SPDR ETFs	Pair Corr
0.96	WMAT	SPDR MSCI World	Pair Corr
0.8	IFFF	iShares MSCI AC	Pair Corr
0.83	CITY	Ishares IV PLC	Pair Corr
0.82	CT2B	iShares Smart City	Pair Corr
0.82	SWRD	SSGA SPDR ETFS	Pair Corr
0.64	CSPX	iShares Core SP	Pair Corr

Moving against IShares Etf

0.37

2MSF

Leverage Shares 2x

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.54	0.23	-0.16	0.16	-0.11	0.52	-0.05	-0.24	-0.25	META
MSFT	0.54		0.78	-0.54	0.54	0.28	0.35	-0.22	-0.84	-0.72	MSFT
UBER	0.23	0.78		-0.45	0.46	0.51	0.02	-0.36	-0.8	-0.5	UBER
F	-0.16	-0.54	-0.45		-0.69	-0.12	0.09	0.58	0.67	0.59	F
T	0.16	0.54	0.46	-0.69		0.55	-0.13	-0.4	-0.49	-0.66	T
A	-0.11	0.28	0.51	-0.12	0.55		-0.33	-0.24	-0.26	-0.38	A
CRM	0.52	0.35	0.02	0.09	-0.13	-0.33		0.56	-0.11	-0.36	CRM
JPM	-0.05	-0.22	-0.36	0.58	-0.4	-0.24	0.56		0.45	0.1	JPM
MRK	-0.24	-0.84	-0.8	0.67	-0.49	-0.26	-0.11	0.45		0.73	MRK
XOM	-0.25	-0.72	-0.5	0.59	-0.66	-0.38	-0.36	0.1	0.73		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.78	MSFT
XOM	+ 0.73	MRK
MRK	+ 0.67	F
XOM	+ 0.59	F
JPM	+ 0.58	F
JPM	+ 0.56	CRM

High negative correlations

MRK	- 0.84	MSFT
MRK	- 0.8	UBER
XOM	- 0.72	MSFT
T	- 0.69	F
XOM	- 0.66	T
F	- 0.54	MSFT

IShares Core Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Core 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 Core'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
META	1.44	(0.19)	0.00	(0.11)	0.00	0.00	3.16	(2.67)	13.02
MSFT	1.05	(0.17)	0.00	(0.45)	0.00	0.00	1.78	(2.50)	4.90
UBER	1.45	(0.23)	0.00	(0.24)	0.00	0.00	2.60	(3.82)	10.23
F	1.42	0.03	0.04	0.09	1.38	(1.76)	3.38	(2.35)	16.30
T	0.87	(0.14)	0.00	(17.25)	0.00	0.00	1.53	(1.85)	4.30
A	1.21	(0.11)	0.00	(0.19)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.47	(0.27)	0.00	(0.18)	0.00	0.00	2.94	(3.10)	12.37
JPM	1.12	(0.08)	(0.02)	0.02	1.70	(1.09)	2.00	(3.11)	7.38
MRK	1.24	0.27	0.19	0.45	1.11	(1.53)	3.59	(1.98)	8.09
XOM	1.07	0.28	0.18	4.39	0.95	(1.26)	2.38	(1.51)	5.82

Be your own money manager

Our tools can tell you how much better you can do entering a position in IShares Core without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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