IShares Core Correlations

IVV Etf

USD 695.03 2.06 0.30%

The current 90-days correlation between iShares Core SP and SPDR SP 500 is 1.0 (i.e., No risk reduction). 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 0.91 (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 manufacturing.

Moving together with IShares Etf

1.0	VTI	Vanguard Total Stock	Pair Corr
1.0	SPY	SPDR SP 500	Pair Corr
0.89	VIG	Vanguard Dividend Sell-off Trend	Pair Corr
1.0	VV	Vanguard Large Cap	Pair Corr
0.86	RSP	Invesco SP 500	Pair Corr
0.99	IWB	iShares Russell 1000	Pair Corr
0.99	ESGU	iShares ESG Aware	Pair Corr
0.94	DFAC	Dimensional Core Equity	Pair Corr
0.68	MUU	Direxion Daily MU	Pair Corr
0.68	MULL	GraniteShares 2x Long	Pair Corr
0.67	GDXU	MicroSectors Gold Miners	Pair Corr
0.67	AGQ	ProShares Ultra Silver	Pair Corr
0.69	JNUG	Direxion Daily Junior	Pair Corr
0.67	KORU	Direxion Daily South	Pair Corr
0.68	NUGT	Direxion Daily Gold	Pair Corr
0.62	SHNY	Microsectors Gold	Pair Corr
0.66	GDMN	WisdomTree Efficient Gold	Pair Corr
0.73	SLVR	Sprott Silver Miners	Pair Corr
0.63	CAT	Caterpillar	Pair Corr
0.74	BA	Boeing Sell-off Trend	Pair Corr
0.65	WMT	Walmart Common Stock Aggressive Push	Pair Corr

Moving against IShares Etf

0.39

HPQ

HP Inc

Pair Corr

Related Correlations Analysis

	SPY	IJH	IJR	VTIAX	IVW	IVE	VXUS	VTPSX	IAI	IWB
SPY		0.85	0.81	0.82	0.88	0.83	0.82	0.82	0.87	0.99	SPY
IJH	0.85		0.95	0.93	0.53	0.91	0.93	0.93	0.95	0.87	IJH
IJR	0.81	0.95		0.9	0.5	0.95	0.9	0.9	0.9	0.83	IJR
VTIAX	0.82	0.93	0.9		0.51	0.91	1.0	1.0	0.89	0.82	VTIAX
IVW	0.88	0.53	0.5	0.51		0.51	0.52	0.51	0.57	0.86	IVW
IVE	0.83	0.91	0.95	0.91	0.51		0.91	0.91	0.91	0.84	IVE
VXUS	0.82	0.93	0.9	1.0	0.52	0.91		1.0	0.9	0.82	VXUS
VTPSX	0.82	0.93	0.9	1.0	0.51	0.91	1.0		0.89	0.82	VTPSX
IAI	0.87	0.95	0.9	0.89	0.57	0.91	0.9	0.89		0.88	IAI
IWB	0.99	0.87	0.83	0.82	0.86	0.84	0.82	0.82	0.88		IWB
	SPY	IJH	IJR	VTIAX	IVW	IVE	VXUS	VTPSX	IAI	IWB

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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
SPY	0.53	(0.01)	(0.02)	0.04	0.78	(0.51)	1.15	(1.19)	3.60
IJH	0.70	0.02	0.03	0.08	0.75	(0.76)	1.81	(1.38)	3.81
IJR	0.82	0.07	0.04	0.27	0.85	(0.91)	1.97	(1.78)	4.95
VTIAX	0.56	0.11	0.12	0.22	0.49	(0.61)	1.28	(1.18)	3.84
IVW	0.72	(0.02)	(0.02)	0.03	1.12	(0.64)	1.28	(1.79)	4.80
IVE	0.50	0.05	0.00	0.40	0.50	(0.56)	0.99	(0.98)	3.06
VXUS	0.54	0.10	0.12	0.20	0.52	(0.57)	1.12	(1.16)	2.62
VTPSX	0.57	0.11	0.12	0.21	0.50	(0.60)	1.27	(1.20)	3.86
IAI	0.87	0.01	0.02	0.06	1.15	(0.83)	1.57	(2.14)	6.26
IWB	0.54	(0.01)	(0.02)	0.04	0.78	(0.52)	1.16	(1.27)	3.52

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