IShares Core Correlations

IUSV Etf

USD 107.64 1.49 1.40%

The current 90-days correlation between iShares Core SP and iShares Core SP is 0.56 (i.e., Very weak diversification). The correlation of IShares Core 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 Core Correlation With Market

Almost no diversification

The correlation between iShares Core SP and DJI is 0.97 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Core SP 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 Core SP. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with IShares Etf

0.98	VTV	Vanguard Value Index	Pair Corr
0.97	VYM	Vanguard High Dividend	Pair Corr
0.99	IWD	iShares Russell 1000	Pair Corr
0.98	DGRO	iShares Core Dividend	Pair Corr
1.0	IVE	iShares SP 500	Pair Corr
1.0	SPYV	SPDR Portfolio SP	Pair Corr
0.94	NOBL	ProShares SP 500 Low Volatility	Pair Corr
0.99	FNDX	Schwab Fundamental Large	Pair Corr
0.98	VLUE	iShares MSCI USA Low Volatility	Pair Corr
0.88	TOT	Advisor Managed Port	Pair Corr
0.78	SHLD	Global X Defense	Pair Corr
0.7	LUX	Tema Global	Pair Corr
0.89	FB	ProShares Trust ProShares	Pair Corr
0.95	SWP	SWP Growth Income	Pair Corr
0.69	FNGD	MicroSectors FANG Index Downward Rally	Pair Corr
0.9	CALY	Callaway Golf Symbol Change	Pair Corr
0.87	VBK	Vanguard Small Cap	Pair Corr
0.92	RDIV	Invesco SP Ultra	Pair Corr
0.94	AHYB	American Century ETF	Pair Corr
0.95	BINC	BlackRock ETF Trust	Pair Corr
0.82	JNJ	Johnson Johnson	Pair Corr
0.87	MRK	Merck Company Aggressive Push	Pair Corr
0.93	DD	Dupont De Nemours Earnings Call Today	Pair Corr
0.9	AA	Alcoa Corp	Pair Corr
0.7	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.78	CVX	Chevron Corp	Pair Corr
0.79	INTC	Intel Aggressive Push	Pair Corr
0.81	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against IShares Etf

0.75

HPQ

HP Inc

Pair Corr

Related Correlations Analysis

	IUSG	IWP	ACWI	USMV	OEF	SOXX	IWV	IWS	IWY	DVY
IUSG		0.81	0.68	0.44	0.95	0.57	0.84	0.48	0.7	0.27	IUSG
IWP	0.81		0.41	0.14	0.73	0.32	0.62	0.28	0.72	-0.01	IWP
ACWI	0.68	0.41		0.77	0.68	0.94	0.95	0.94	-0.01	0.87	ACWI
USMV	0.44	0.14	0.77		0.53	0.62	0.75	0.8	-0.13	0.79	USMV
OEF	0.95	0.73	0.68	0.53		0.5	0.85	0.49	0.68	0.29	OEF
SOXX	0.57	0.32	0.94	0.62	0.5		0.85	0.91	-0.14	0.86	SOXX
IWV	0.84	0.62	0.95	0.75	0.85	0.85		0.87	0.24	0.71	IWV
IWS	0.48	0.28	0.94	0.8	0.49	0.91	0.87		-0.26	0.94	IWS
IWY	0.7	0.72	-0.01	-0.13	0.68	-0.14	0.24	-0.26		-0.47	IWY
DVY	0.27	-0.01	0.87	0.79	0.29	0.86	0.71	0.94	-0.47		DVY
	IUSG	IWP	ACWI	USMV	OEF	SOXX	IWV	IWS	IWY	DVY

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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

OEF	+ 0.95	IUSG
IWV	+ 0.95	ACWI
SOXX	+ 0.94	ACWI
IWS	+ 0.94	ACWI
DVY	+ 0.94	IWS
IWS	+ 0.91	SOXX

High negative correlations

DVY	- 0.47	IWY
IWY	- 0.26	IWS
IWY	- 0.14	SOXX
IWY	- 0.13	USMV
IWY	- 0.01	ACWI
DVY	- 0.01	IWP

IShares Core Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Core 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 Core'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
IUSG	0.77	(0.11)	0.00	(0.06)	0.00	0.00	1.33	(1.79)	4.63
IWP	0.83	(0.16)	0.00	(0.06)	0.00	0.00	1.41	(2.01)	4.02
ACWI	0.58	(0.01)	(0.03)	0.07	0.75	(0.58)	1.11	(1.28)	3.29
USMV	0.39	0.01	(0.06)	0.10	0.39	(0.41)	0.98	(0.73)	2.01
OEF	0.58	(0.08)	0.00	(0.03)	0.00	0.00	1.03	(1.42)	4.23
SOXX	1.78	0.08	0.05	0.13	2.15	(1.84)	3.24	(4.11)	9.17
IWV	0.59	(0.05)	(0.07)	0.02	0.79	(0.59)	1.22	(1.27)	3.43
IWS	0.66	0.07	0.08	0.16	0.58	(0.73)	1.63	(1.24)	3.47
IWY	0.76	(0.17)	0.00	(0.14)	0.00	0.00	1.44	(1.89)	4.74
DVY	0.59	0.13	0.16	0.28	0.40	(0.68)	1.43	(0.87)	3.53

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