IShares Developed Correlations

IWDP Etf

EUR 22.31 0.15 0.68%

The current 90-days correlation between iShares Developed Markets and Amundi Index Solutions is 0.33 (i.e., Weak diversification). The correlation of IShares Developed 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 Developed Correlation With Market

Poor diversification

The correlation between iShares Developed Markets and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Developed Markets and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares Developed 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 Developed 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 Developed - 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 Developed Markets to buy it.

Moving together with IShares Etf

0.96	TRET	VanEck Global Real	Pair Corr
0.91	TAT	VanEck iBoxx EUR	Pair Corr
0.92	VETY	Vanguard EUR Eurozone	Pair Corr
0.82	IBGL	iShares Govt Bond	Pair Corr
0.94	IBGX	iShares Euro Government	Pair Corr
0.91	IEGZ	iShares III Public	Pair Corr
0.9	IBGS	iShares Euro Government	Pair Corr
0.92	GOVA	SPDR Bloomberg Euro	Pair Corr
0.93	IBGM	iShares Euro Government	Pair Corr
0.73	DJSC	iShares EURO STOXX	Pair Corr
0.82	EPAD	iShares MSCI Europe	Pair Corr
0.84	DJMC	iShares EURO STOXX	Pair Corr
0.89	LCJP	Amundi MSCI Japan	Pair Corr
0.81	IMAE	iShares Core MSCI	Pair Corr
0.78	GLUH	iShares Core UK	Pair Corr
0.79	IEUX	iShares MSCI Europe	Pair Corr
0.7	ISED	iShares MSCI Europe	Pair Corr
0.82	SUOU	iShares Corp Bond	Pair Corr
0.94	CSJP	iShares VII PLC	Pair Corr
0.82	IBZL	iShares MSCI Brazil	Pair Corr
0.91	NTM	VanEck Multi Asset	Pair Corr
0.94	INFR	iShares Global Infra	Pair Corr
0.86	JPSR	UBSFund Solutions MSCI	Pair Corr
0.72	RTWO	LG Russell 2000	Pair Corr
0.84	SMUA	iShares MSCI EMU	Pair Corr
0.87	TDIV	VanEck Morningstar	Pair Corr
0.91	VECP	Vanguard EUR Corporate	Pair Corr
0.88	IKRA	iShares Public	Pair Corr
0.68	IDSE	iShares MSCI Europe	Pair Corr
0.87	IEMA	iShares MSCI EM	Pair Corr
0.92	IEGA	iShares III Public	Pair Corr
0.66	CALF	Pacer Small Cap	Pair Corr
0.95	IASP	iShares Asia Property	Pair Corr
0.89	SXLB	SSgA SPDR ETFs	Pair Corr

Related Correlations Analysis

	PHAG	VNRT	RTWO	ERND	COWZ	VAPX	UIMR	GLUH	JPXY
PHAG		0.0	0.71	0.7	0.63	0.65	0.49	0.53	0.54	PHAG
VNRT	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	VNRT
RTWO	0.71	0.0		0.57	0.8	0.79	0.64	0.73	0.84	RTWO
ERND	0.7	0.0	0.57		0.69	0.59	0.66	0.48	0.59	ERND
COWZ	0.63	0.0	0.8	0.69		0.92	0.7	0.71	0.81	COWZ
VAPX	0.65	0.0	0.79	0.59	0.92		0.69	0.75	0.78	VAPX
UIMR	0.49	0.0	0.64	0.66	0.7	0.69		0.76	0.75	UIMR
GLUH	0.53	0.0	0.73	0.48	0.71	0.75	0.76		0.79	GLUH
JPXY	0.54	0.0	0.84	0.59	0.81	0.78	0.75	0.79		JPXY
	PHAG	VNRT	RTWO	ERND	COWZ	VAPX	UIMR	GLUH	JPXY

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

VAPX	+ 0.92	COWZ
JPXY	+ 0.84	RTWO
JPXY	+ 0.81	COWZ
COWZ	+ 0.8	RTWO
VAPX	+ 0.79	RTWO
JPXY	+ 0.79	GLUH

High negative correlations

JPXY	- 0.0	VNRT
GLUH	- 0.0	VNRT
UIMR	- 0.0	VNRT
VAPX	- 0.0	VNRT
COWZ	- 0.0	VNRT
ERND	- 0.0	VNRT

IShares Developed Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Developed 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 Developed'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
PHAG	3.77	0.86	0.13	1.67	5.10	(3.88)	7.69	(7.54)	27.94
VNRT	0.44	(0.01)	(0.16)	(0.33)	0.61	(0.50)	1.13	(1.18)	3.08
RTWO	0.71	0.12	0.01	(5.09)	0.72	(0.81)	1.64	(1.75)	4.00
ERND	0.07	0.03	0.00	(0.64)	0.00	0.00	0.00	0.00	2.25
COWZ	0.46	0.13	0.11	0.49	0.00	(0.56)	1.17	(0.75)	2.26
VAPX	0.73	0.45	0.49	(15.33)	0.00	(0.95)	2.11	(0.89)	3.71
UIMR	0.44	0.08	(0.05)	2.69	0.37	(0.50)	1.01	(0.72)	2.78
GLUH	0.21	0.02	(0.30)	0.41	0.00	(0.36)	0.41	(0.41)	1.23
JPXY	0.74	0.08	0.01	0.33	0.64	(0.79)	1.45	(1.24)	3.59

Be your own money manager

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