IShares SP Correlations

IUES Etf

USD 11.56 0.32 2.85%

The current 90-days correlation between iShares SP 500 and iShares MSCI Korea is 0.03 (i.e., Significant diversification). The correlation of IShares SP 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 SP Correlation With Market

Poor diversification

The correlation between iShares SP 500 and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares SP 500 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares SP 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 SP 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 SP - 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 SP 500 to buy it.

Moving together with IShares Etf

0.91	MLPD	Invesco Morningstar	Pair Corr
0.94	MLPS	Invesco Morningstar	Pair Corr
0.95	SXEPEX	iShares STOXX Europe	Pair Corr
0.98	XLES	Invesco Energy SP	Pair Corr
0.77	STNX	SPDR MSCI Europe	Pair Corr
0.88	IJPE	iShares MSCI Japan	Pair Corr
0.9	XMEX	Xtrackers MSCI Mexico	Pair Corr
0.63	DMFC	iShares Edge MSCI	Pair Corr
0.79	XDUE	Xtrackers MSCI EMU	Pair Corr
0.88	CSNKY	iShares VII PLC	Pair Corr
0.71	EUN	iShares STOXX Europe	Pair Corr
0.74	GDX	VanEck Gold Miners	Pair Corr
0.83	IT25	iShares V PLC	Pair Corr
0.76	ESGO	AuAg Gold Mining	Pair Corr
0.85	UKGBPA	UBSFund Solutions MSCI	Pair Corr
0.84	USMUFE	UBS ETF plc	Pair Corr
0.89	XGSD	Xtrackers Stoxx Global	Pair Corr
0.88	DCUSAS	UBS Fund Solutions	Pair Corr
0.88	XMCJ	Xtrackers MSCI Japan	Pair Corr
0.66	USCR	SPDR Bloomberg SASB	Pair Corr
0.71	DRVE	Global X Autonomous	Pair Corr
0.85	EMUM	iShares MSCI EMU	Pair Corr
0.73	STYC	PIMCO Short Term	Pair Corr
0.61	HYLC	iShares Global High	Pair Corr
0.75	FTAD	SPDR FTSE UK	Pair Corr
0.76	WRDUSW-USD	UBSETF MSCIWLD USDa	Pair Corr
0.86	CISB	iShares Smart City	Pair Corr
0.67	SMICHA	UBS ETF SMI	Pair Corr
0.64	XESC	Xtrackers Euro Stoxx	Pair Corr
0.79	AWESGG	UBS MSCI ACWI	Pair Corr
0.88	ZGLDEU	ZKB Gold ETF	Pair Corr
0.82	XEOU	Xtrackers MSCI Europe	Pair Corr
0.87	RGRT	Raiffeisen ETF Solid	Pair Corr
0.9	VAPU	Vanguard FTSE Developed	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		-0.82	-0.81	0.23	-0.86	-0.57	-0.36	-0.89	IGEA
SEMI	0.0	-0.82		0.93	-0.23	0.88	0.87	0.43	0.96	SEMI
CSUKX	0.0	-0.81	0.93		-0.3	0.89	0.84	0.5	0.93	CSUKX
30ID	0.0	0.23	-0.23	-0.3		-0.11	-0.17	-0.1	-0.22	30ID
IASP	0.0	-0.86	0.88	0.89	-0.11		0.72	0.54	0.93	IASP
IWDC	0.0	-0.57	0.87	0.84	-0.17	0.72		0.55	0.76	IWDC
IUHC	0.0	-0.36	0.43	0.5	-0.1	0.54	0.55		0.39	IUHC
IKOR	0.0	-0.89	0.96	0.93	-0.22	0.93	0.76	0.39		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	+ 0.93	SEMI
IKOR	+ 0.93	CSUKX
IKOR	+ 0.93	IASP
IASP	+ 0.89	CSUKX
IASP	+ 0.88	SEMI

High negative correlations

IKOR	- 0.89	IGEA
IASP	- 0.86	IGEA
SEMI	- 0.82	IGEA
CSUKX	- 0.81	IGEA
IWDC	- 0.57	IGEA
IUHC	- 0.36	IGEA

IShares SP Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares SP 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 SP'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	0.29	(0.12)	0.00	(0.74)	0.00	0.00	0.54	(0.87)	2.10
SEMI	1.61	0.30	0.10	1.22	1.87	(1.76)	4.33	(2.59)	10.84
CSUKX	0.54	0.11	0.01	(2.30)	0.47	(0.59)	1.23	(1.02)	2.71
30ID	0.08	0.00	(0.24)	(1.97)	0.13	(0.20)	0.19	(0.19)	1.32
IASP	0.35	0.15	0.11	4.46	0.00	(0.69)	1.27	(0.59)	2.47
IWDC	0.51	0.02	(0.09)	0.23	0.60	(0.53)	1.27	(1.08)	3.44
IUHC	0.69	0.09	0.01	0.78	0.59	(0.82)	2.08	(1.17)	3.95
IKOR	1.67	0.50	0.17	(2.35)	1.55	(2.29)	4.30	(2.47)	14.94

Be your own money manager

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