IShares Trust Correlations

ITDF Etf

39.03 0.13 0.33%

The current 90-days correlation between iShares Trust and Invesco Next Gen is 0.82 (i.e., Very poor 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

Almost no diversification

The correlation between iShares Trust and DJI is 0.96 (i.e., Almost no 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.

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 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 more detail on how to invest in IShares Etf please use our How to Invest in IShares Trust guide.

Moving together with IShares Etf

0.9	MUU	Direxion Daily MU Upward Rally	Pair Corr
0.89	MULL	GraniteShares 2x Long Upward Rally	Pair Corr
0.72	AGQ	ProShares Ultra Silver Buyout Trend	Pair Corr
0.89	JNUG	Direxion Daily Junior	Pair Corr
0.85	GDXU	MicroSectors Gold Miners	Pair Corr
0.9	KORU	Direxion Daily South Upward Rally	Pair Corr
0.89	NUGT	Direxion Daily Gold	Pair Corr
0.85	SHNY	Microsectors Gold	Pair Corr
0.92	SIL	Global X Silver	Pair Corr
0.87	SIVR	abrdn Physical Silver	Pair Corr
0.95	VIG	Vanguard Dividend	Pair Corr
0.97	WCMI	First Trust Exchange	Pair Corr
0.95	VTV	Vanguard Value Index	Pair Corr
0.84	FIXT	TCW ETF Trust	Pair Corr
0.74	SPAB	SPDR Portfolio Aggregate	Pair Corr
0.97	EFG	iShares MSCI EAFE Low Volatility	Pair Corr
0.95	NULV	Nuveen ESG Large	Pair Corr
0.97	INTL	Main International ETF Low Volatility	Pair Corr
0.94	ISCB	iShares Morningstar	Pair Corr
0.94	SHRY	First Trust Bloomberg	Pair Corr
0.66	PILL	Direxion Daily Pharm	Pair Corr
0.94	EQIN	Russell Equity Income	Pair Corr
0.98	SCHF	Schwab International	Pair Corr
0.98	LCTD	BlackRock World ex	Pair Corr
0.92	RAAX	VanEck Inflation All	Pair Corr
0.93	NORW	Global X MSCI	Pair Corr
0.97	VXUS	Vanguard Total Inter	Pair Corr
0.92	FTSM	First Trust Enhanced Sell-off Trend	Pair Corr
0.92	PMMF	BlackRock ETF Trust	Pair Corr
0.93	EWM	iShares MSCI Malaysia	Pair Corr
0.93	CPAI	Counterpoint Quantitative	Pair Corr
0.87	SCHD	Schwab Dividend Equity	Pair Corr
0.93	EEMX	SPDR MSCI Emerging	Pair Corr
0.92	XSMO	Invesco SP SmallCap	Pair Corr
0.95	GAPR	First Trust Exchange	Pair Corr
0.93	IWMI	NEOS Russell 2000	Pair Corr
0.96	EJUL	Innovator MSCI Emerging	Pair Corr

Related Correlations Analysis

	ITDE	ITDB	HEJD	IBBQ	DVND	KNO	PEXL	SSXU	FLCV	KNCT
ITDE		1.0	0.23	0.79	0.94	0.97	0.94	0.98	0.97	0.95	ITDE
ITDB	1.0		0.24	0.79	0.94	0.96	0.93	0.97	0.97	0.94	ITDB
HEJD	0.23	0.24		0.09	0.35	0.3	0.04	0.33	0.22	0.23	HEJD
IBBQ	0.79	0.79	0.09		0.79	0.78	0.78	0.76	0.85	0.69	IBBQ
DVND	0.94	0.94	0.35	0.79		0.96	0.84	0.96	0.96	0.9	DVND
KNO	0.97	0.96	0.3	0.78	0.96		0.85	0.99	0.93	0.95	KNO
PEXL	0.94	0.93	0.04	0.78	0.84	0.85		0.86	0.94	0.84	PEXL
SSXU	0.98	0.97	0.33	0.76	0.96	0.99	0.86		0.94	0.94	SSXU
FLCV	0.97	0.97	0.22	0.85	0.96	0.93	0.94	0.94		0.87	FLCV
KNCT	0.95	0.94	0.23	0.69	0.9	0.95	0.84	0.94	0.87		KNCT
	ITDE	ITDB	HEJD	IBBQ	DVND	KNO	PEXL	SSXU	FLCV	KNCT

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ITDE	0.45	0.03	0.00	0.15	0.53	(0.47)	0.98	(0.93)	2.56
ITDB	0.30	0.02	(0.08)	0.14	0.29	(0.31)	0.68	(0.59)	1.85
HEJD	0.40	0.04	(0.11)	(1.02)	0.45	(0.40)	0.88	(0.82)	2.18
IBBQ	0.97	0.10	0.07	0.24	0.86	(1.16)	2.40	(1.58)	5.24
DVND	0.48	0.11	0.08	0.33	0.41	(0.56)	1.12	(0.88)	3.30
KNO	0.59	0.12	0.11	0.27	0.53	(0.62)	1.29	(1.11)	3.07
PEXL	0.82	0.03	0.02	0.12	1.05	(0.82)	1.72	(2.00)	4.37
SSXU	0.55	0.10	0.09	0.24	0.51	(0.58)	1.20	(1.16)	3.10
FLCV	0.56	0.07	0.08	0.18	0.40	(0.67)	1.62	(0.93)	3.34
KNCT	0.96	0.07	0.05	0.17	1.15	(0.98)	1.96	(1.97)	6.31

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IShares Trust Correlations

IShares Trust Correlation With Market

Almost no diversification

Moving together with IShares Etf

Related Correlations Analysis

IShares Trust Constituents Risk-Adjusted Indicators

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