IShares Trust Correlations

ITDF Etf

32.76 0.21 0.64%

The current 90-days correlation between iShares Trust and First Trust Multi Asset is 0.07 (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 0.75 (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 more detail on how to invest in IShares Etf please use our How to Invest in IShares Trust guide.

Moving together with IShares Etf

0.86	FNGU	MicroSectors FANG Index	Pair Corr
0.78	FBL	GraniteShares 15x Long	Pair Corr
0.74	BITX	Volatility Shares Trust	Pair Corr
0.79	STCE	Schwab Strategic Trust	Pair Corr
0.93	SPLG	SPDR Portfolio SP	Pair Corr
0.9	ARTY	iShares Future AI Symbol Change	Pair Corr
0.93	VOO	Vanguard SP 500	Pair Corr
0.83	SCHD	Schwab Dividend Equity Sell-off Trend	Pair Corr
0.89	BAUG	Innovator Equity Buffer	Pair Corr
0.93	SPY	SPDR SP 500	Pair Corr
0.93	QQQM	Invesco NASDAQ 100	Pair Corr
0.93	QQQ	Invesco QQQ Trust	Pair Corr

Moving against IShares Etf

0.54

WTID

UBS ETRACS

Pair Corr

Related Correlations Analysis

	MDIV	MFUL	DRAI	DRSK	DSCF	DUKQ	MPAY	MPRO	DWAT
MDIV		0.9	0.32	-0.04	-0.13	0.83	0.76	-0.07	0.74	MDIV
MFUL	0.9		0.38	-0.14	-0.26	0.94	0.88	-0.21	0.8	MFUL
DRAI	0.32	0.38		0.44	0.11	0.39	0.63	0.02	0.56	DRAI
DRSK	-0.04	-0.14	0.44		0.8	-0.26	0.06	0.61	-0.21	DRSK
DSCF	-0.13	-0.26	0.11	0.8		-0.49	-0.18	0.86	-0.56	DSCF
DUKQ	0.83	0.94	0.39	-0.26	-0.49		0.88	-0.47	0.9	DUKQ
MPAY	0.76	0.88	0.63	0.06	-0.18	0.88		-0.18	0.82	MPAY
MPRO	-0.07	-0.21	0.02	0.61	0.86	-0.47	-0.18		-0.5	MPRO
DWAT	0.74	0.8	0.56	-0.21	-0.56	0.9	0.82	-0.5		DWAT
	MDIV	MFUL	DRAI	DRSK	DSCF	DUKQ	MPAY	MPRO	DWAT

Click cells to compare fundamentals

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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

DUKQ	+ 0.94	MFUL
MFUL	+ 0.9	MDIV
DWAT	+ 0.9	DUKQ
MPAY	+ 0.88	MFUL
MPAY	+ 0.88	DUKQ
MPRO	+ 0.86	DSCF

High negative correlations

DWAT	- 0.56	DSCF
DWAT	- 0.5	MPRO
DUKQ	- 0.49	DSCF
MPRO	- 0.47	DUKQ
DUKQ	- 0.26	DRSK
DSCF	- 0.26	MFUL

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
MDIV	0.33	0.03	(0.17)	0.39	0.34	(0.36)	0.73	(0.72)	1.77
MFUL	0.16	0.00	(0.48)	0.11	0.00	(0.19)	0.32	(0.27)	0.97
DRAI	0.69	0.06	(0.05)	(2.55)	0.95	(0.71)	1.38	(1.73)	5.57
DRSK	0.31	(0.01)	(0.25)	0.01	0.40	(0.33)	0.64	(0.68)	1.93
DSCF	0.27	(0.03)	0.00	(0.42)	0.00	0.00	0.56	(0.51)	1.48
DUKQ	0.53	0.07	0.08	0.19	0.35	(0.61)	1.11	(0.88)	4.44
MPAY	0.44	0.06	(0.01)	0.24	0.38	(0.50)	1.12	(0.86)	2.73
MPRO	0.33	(0.05)	0.00	(0.19)	0.00	0.00	0.61	(0.68)	1.49
DWAT	0.54	0.11	0.00	6.87	0.46	(0.65)	1.04	(0.86)	5.24

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