IShares Edge Correlations

IS3Q Etf

EUR 69.78 0.17 0.24%

The current 90-days correlation between iShares Edge MSCI and iShares MSCI ACWI is 0.9 (i.e., Almost no diversification). The correlation of IShares Edge 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.

IShares Edge Correlation With Market

Almost no diversification

The correlation between iShares Edge MSCI and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Edge MSCI and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares Edge 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 Edge 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 Edge - 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 Edge MSCI to buy it.

Moving together with IShares Etf

0.96	VGWL	Vanguard FTSE All	Pair Corr
0.97	VWCE	Vanguard FTSE All	Pair Corr
0.9	SC0J	Invesco MSCI World	Pair Corr
0.97	SPYY	SSgA SPDR ETFs	Pair Corr
0.82	UIMM	UBS Fund Solutions	Pair Corr
0.83	SEAC	UBS Fund Solutions	Pair Corr
0.93	UIM7	UBS ETF	Pair Corr
0.97	IUSQ	iShares MSCI ACWI	Pair Corr
0.65	EXI2	iShares Dow Jones	Pair Corr
0.88	VALD	BNP Paribas Easy	Pair Corr
0.97	GQWD	Goldman Sachs Alpha	Pair Corr
0.96	XDEW	Xtrackers Public	Pair Corr
0.94	EMNE	iShares MSCI EMU	Pair Corr
0.65	JEAA	JPM EUR Aggregate	Pair Corr
0.85	VGEK	Vanguard FTSE Developed	Pair Corr
0.76	EGV3	MULTI UNITS LUXEMBOURG	Pair Corr
0.65	VUSA	Vanguard Funds Public	Pair Corr
0.91	DX2X	Xtrackers Stoxx	Pair Corr
0.92	ETSZ	Easy ETF	Pair Corr
0.8	DVDE	Franklin European Quality	Pair Corr
0.84	ETLX	LG Gold Mining	Pair Corr
0.82	IUS4	iShares III Public	Pair Corr
0.9	C006	Lyxor FAZ 100	Pair Corr
0.75	EXX7	iShares Nikkei 225	Pair Corr
0.93	VMID	Vanguard FTSE 250	Pair Corr
0.75	CMOE	Invesco Bloomberg	Pair Corr
0.84	IUS2	iShares SP Banks	Pair Corr
0.85	LASI	Multi Units Luxembourg	Pair Corr
0.82	T3MP	JPMorgan ETFs ICAV	Pair Corr
0.82	C099	Lyxor Bloomberg Equal	Pair Corr
0.61	XDWS	Xtrackers MSCI World	Pair Corr
0.84	DBX8	Xtrackers MSCI	Pair Corr
0.85	PRAM	Amundi Prime Emerging	Pair Corr
0.82	LM9E	BNP Paribas Easy	Pair Corr

Moving against IShares Etf

0.92

DBPD

Xtrackers ShortDAX

Pair Corr

Related Correlations Analysis

	EUN8	IS0Z	AYEU	CBU1	IUSP	2B7A	36BY	IS02	IUSQ
EUN8		0.93	0.47	0.25	-0.3	0.49	0.0	0.14	0.36	EUN8
IS0Z	0.93		0.57	0.37	-0.17	0.42	0.0	0.26	0.52	IS0Z
AYEU	0.47	0.57		0.81	-0.38	-0.3	0.0	-0.27	0.84	AYEU
CBU1	0.25	0.37	0.81		-0.2	-0.54	0.0	-0.26	0.88	CBU1
IUSP	-0.3	-0.17	-0.38	-0.2		0.09	0.0	0.56	-0.06	IUSP
2B7A	0.49	0.42	-0.3	-0.54	0.09		0.0	0.6	-0.36	2B7A
36BY	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	36BY
IS02	0.14	0.26	-0.27	-0.26	0.56	0.6	0.0		-0.04	IS02
IUSQ	0.36	0.52	0.84	0.88	-0.06	-0.36	0.0	-0.04		IUSQ
	EUN8	IS0Z	AYEU	CBU1	IUSP	2B7A	36BY	IS02	IUSQ

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

IS0Z	+ 0.93	EUN8
IUSQ	+ 0.88	CBU1
IUSQ	+ 0.84	AYEU
CBU1	+ 0.81	AYEU
IS02	+ 0.6	2B7A
AYEU	+ 0.57	IS0Z

High negative correlations

2B7A	- 0.54	CBU1
IUSP	- 0.38	AYEU
IUSQ	- 0.36	2B7A
2B7A	- 0.3	AYEU
IUSP	- 0.3	EUN8
IS02	- 0.27	AYEU

IShares Edge Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Edge 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 Edge'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
EUN8	0.21	0.01	(0.17)	0.33	0.25	(0.22)	0.41	(0.52)	1.10
IS0Z	0.14	0.00	(0.25)	0.26	0.14	(0.13)	0.32	(0.33)	0.76
AYEU	0.58	0.04	(0.02)	1.04	0.84	(0.65)	1.34	(1.92)	3.59
CBU1	0.15	0.01	(0.16)	0.35	0.00	(0.23)	0.33	(0.32)	0.81
IUSP	0.23	(0.01)	(0.11)	(0.02)	0.48	(0.23)	0.50	(0.43)	3.01
2B7A	0.75	0.04	(0.03)	(0.29)	0.93	(0.77)	1.58	(1.45)	3.90
36BY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IS02	0.27	(0.01)	(0.13)	(0.09)	0.36	(0.31)	0.54	(0.72)	1.45
IUSQ	0.55	0.02	(0.02)	0.10	0.66	(0.59)	1.37	(1.27)	3.79

Be your own money manager

Our tools can tell you how much better you can do entering a position in IShares Edge 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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