IShares Trust Correlations

ITDC Etf   31.22  0.15  0.48%   
The current 90-days correlation between iShares Trust and First Trust Multi Asset is 0.05 (i.e., Significant diversification). The correlation of IShares Trust 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 Trust Correlation With Market

Poor diversification

The correlation between iShares Trust and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Trust 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 Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.
For information on how to trade IShares Etf refer to our How to Trade IShares Etf guide.

Moving together with IShares Etf

  0.98ITDD iShares TrustPairCorr
  0.74PNQI Invesco NASDAQ InternetPairCorr
  0.77SPLG SPDR Portfolio SPPairCorr
  0.75QQQM Invesco NASDAQ 100PairCorr
  0.74ETH Grayscale Ethereum MiniPairCorr
  0.67SPBC Simplify Equity PLUSPairCorr
  0.72BAUG Innovator Equity BufferPairCorr
  0.7VONG Vanguard Russell 1000PairCorr
  0.82IXN iShares Global TechPairCorr
  0.77SPY SPDR SP 500PairCorr
  0.75VOOG Vanguard SP 500PairCorr
  0.73VTV Vanguard Value IndexPairCorr
  0.72Z Zillow Group ClassPairCorr
  0.65SCHD Schwab Dividend Equity Sell-off TrendPairCorr
  0.8EXI iShares Global IndusPairCorr
  0.73PYZ Invesco DWA BasicPairCorr
  0.78ARTY iShares Future AI Symbol ChangePairCorr
  0.73BOTZ Global X RoboticsPairCorr
  0.82RXI iShares Global ConsumerPairCorr
  0.76VOO Vanguard SP 500PairCorr
  0.75QQQ Invesco QQQ TrustPairCorr

Related Correlations Analysis

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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   
DUKQMFUL
MFULMDIV
DWATDUKQ
MPAYMFUL
MPAYDUKQ
MPRODSCF
  
High negative correlations   
DWATDSCF
DWATMPRO
DUKQDSCF
MPRODUKQ
DUKQDRSK
DSCFMFUL

IShares Trust Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Trust 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 Trust'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.