IShares Core Correlations

IMEU Etf

CHF 35.09 0.01 0.03%

The current 90-days correlation between iShares Core MSCI and iShares MSCI Korea is 0.2 (i.e., Modest 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 0.9 (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

1.0	IMEA	iShares Core MSCI	Pair Corr
0.99	VEUR	Vanguard FTSE Developed	Pair Corr
0.95	LYMEU	Lyxor MSCI Europe	Pair Corr
0.9	MVEU	iShares Edge MSCI	Pair Corr
0.83	IESE	iShares MSCI Europe	Pair Corr
0.92	EUN	iShares STOXX Europe	Pair Corr
0.95	ETZ	BNP Paribas Easy	Pair Corr
0.96	EROX	SPDR MSCI Europe	Pair Corr
0.91	IJPE	iShares MSCI Japan	Pair Corr
0.78	CSNKY	iShares VII PLC	Pair Corr
0.89	XMEX	Xtrackers MSCI Mexico	Pair Corr
0.98	XEOU	Xtrackers MSCI Europe	Pair Corr

Related Correlations Analysis

	SGWS	IGEA	SEMI	CSUKX	30ID	IASP	IWDC	IUHC	IKOR
SGWS		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SGWS
IGEA	0.0		-0.75	-0.72	0.39	-0.79	-0.46	-0.39	-0.83	IGEA
SEMI	0.0	-0.75		0.91	-0.32	0.86	0.85	0.37	0.96	SEMI
CSUKX	0.0	-0.72	0.91		-0.45	0.86	0.82	0.52	0.9	CSUKX
30ID	0.0	0.39	-0.32	-0.45		-0.31	-0.2	-0.25	-0.35	30ID
IASP	0.0	-0.79	0.86	0.86	-0.31		0.68	0.64	0.89	IASP
IWDC	0.0	-0.46	0.85	0.82	-0.2	0.68		0.41	0.73	IWDC
IUHC	0.0	-0.39	0.37	0.52	-0.25	0.64	0.41		0.35	IUHC
IKOR	0.0	-0.83	0.96	0.9	-0.35	0.89	0.73	0.35		IKOR
	SGWS	IGEA	SEMI	CSUKX	30ID	IASP	IWDC	IUHC	IKOR

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

IKOR	+ 0.96	SEMI
CSUKX	+ 0.91	SEMI
IKOR	+ 0.9	CSUKX
IKOR	+ 0.89	IASP
IASP	+ 0.86	SEMI
IASP	+ 0.86	CSUKX

High negative correlations

IKOR	- 0.83	IGEA
IASP	- 0.79	IGEA
SEMI	- 0.75	IGEA
CSUKX	- 0.72	IGEA
IWDC	- 0.46	IGEA
30ID	- 0.45	CSUKX

IShares Core Constituents 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
SGWS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IGEA	0.28	(0.09)	0.00	(0.56)	0.00	0.00	0.51	(0.87)	2.10
SEMI	1.58	0.20	0.07	1.87	1.97	(1.67)	4.30	(2.59)	10.84
CSUKX	0.52	0.10	0.08	1.74	0.42	(0.58)	1.23	(0.87)	2.57
30ID	0.08	(0.02)	0.00	(2.25)	0.00	0.00	0.19	(0.19)	1.32
IASP	0.32	0.06	0.02	0.63	0.20	(0.61)	1.08	(0.66)	2.47
IWDC	0.48	0.00	(0.08)	0.03	0.61	(0.48)	0.97	(1.01)	3.44
IUHC	0.70	0.10	0.06	2.42	0.60	(0.81)	2.08	(1.17)	3.95
IKOR	1.73	0.50	0.18	(1.84)	1.64	(2.36)	4.30	(3.38)	14.94

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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