IShares Developed Correlations

IWDP Etf

EUR 21.33 0.42 2.01%

The current 90-days correlation between iShares Developed Markets and Value8 NV is -0.08 (i.e., Good 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

Very weak diversification

The correlation between iShares Developed Markets and DJI is 0.41 (i.e., Very weak 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

0.8	TRET	VanEck Global Real	Pair Corr
0.72	IFFF	iShares MSCI AC	Pair Corr
0.72	PHPT	WisdomTree Physical	Pair Corr
0.62	IKRA	iShares Public	Pair Corr
0.64	VAPX	Vanguard FTSE Developed	Pair Corr
0.65	IDJG	iShares EURO Total	Pair Corr
0.62	JPSR	UBSFund Solutions MSCI	Pair Corr

Related Correlations Analysis

	TRET	JPSR	IUHE	SRIL	HYDRA	IUSP	MAGU	AALB	IAPD	VALUE
TRET		0.55	0.39	0.2	0.12	0.89	0.29	0.31	0.07	-0.02	TRET
JPSR	0.55		0.53	0.79	0.05	0.51	0.79	0.57	0.71	-0.51	JPSR
IUHE	0.39	0.53		0.41	-0.01	0.09	0.36	0.42	0.55	-0.49	IUHE
SRIL	0.2	0.79	0.41		0.24	0.18	0.89	0.77	0.81	-0.65	SRIL
HYDRA	0.12	0.05	-0.01	0.24		0.17	0.28	0.55	0.13	-0.28	HYDRA
IUSP	0.89	0.51	0.09	0.18	0.17		0.28	0.19	0.01	0.04	IUSP
MAGU	0.29	0.79	0.36	0.89	0.28	0.28		0.76	0.77	-0.61	MAGU
AALB	0.31	0.57	0.42	0.77	0.55	0.19	0.76		0.63	-0.54	AALB
IAPD	0.07	0.71	0.55	0.81	0.13	0.01	0.77	0.63		-0.76	IAPD
VALUE	-0.02	-0.51	-0.49	-0.65	-0.28	0.04	-0.61	-0.54	-0.76		VALUE
	TRET	JPSR	IUHE	SRIL	HYDRA	IUSP	MAGU	AALB	IAPD	VALUE

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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

IUSP	+ 0.89	TRET
MAGU	+ 0.89	SRIL
IAPD	+ 0.81	SRIL
SRIL	+ 0.79	JPSR
MAGU	+ 0.79	JPSR
AALB	+ 0.77	SRIL

High negative correlations

VALUE	- 0.76	IAPD
VALUE	- 0.65	SRIL
VALUE	- 0.61	MAGU
VALUE	- 0.54	AALB
VALUE	- 0.51	JPSR
VALUE	- 0.49	IUHE

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
TRET	0.50	0.03	(0.01)	0.17	0.48	(0.61)	1.15	(0.79)	2.98
JPSR	0.58	0.05	0.01	0.18	0.87	(0.58)	1.34	(1.46)	4.52
IUHE	0.65	0.09	0.08	0.21	0.59	(0.77)	1.89	(1.14)	3.81
SRIL	0.56	0.00	(0.04)	0.05	0.66	(0.63)	1.24	(1.22)	2.95
HYDRA	0.69	0.09	0.01	(0.22)	0.82	(1.70)	1.71	(1.65)	7.92
IUSP	0.53	0.01	(0.05)	0.08	0.60	(0.60)	1.39	(1.06)	3.50
MAGU	0.27	0.02	(0.03)	0.21	0.35	(0.79)	1.17	(0.60)	2.83
AALB	1.41	0.32	0.23	0.43	1.11	(1.68)	3.51	(2.06)	8.92
IAPD	0.05	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.47
VALUE	1.09	0.01	(0.03)	(0.34)	1.23	(1.52)	2.31	(2.24)	6.11

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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