IShares Edge Correlations

IWVL Etf

USD 66.22 0.17 0.26%

The current 90-days correlation between iShares Edge MSCI and iShares MSCI Korea is -0.05 (i.e., Good diversification). The correlation of IShares Edge 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 Edge Correlation With Market

Very poor diversification

The correlation between iShares Edge MSCI and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Edge MSCI and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares Edge 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 Edge 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 Edge - 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 Edge MSCI to buy it.

Moving together with IShares Etf

0.98	PSRW	Invesco FTSE RAFI	Pair Corr
0.93	AUEUAH	UBS ETF Gold	Pair Corr
0.91	LYMEU	Lyxor MSCI Europe	Pair Corr
0.88	EMUEUA	UBSFund Solutions MSCI	Pair Corr
0.71	LYSP5	Lyxor SP 500	Pair Corr
0.93	XMJP	Xtrackers MSCI Japan	Pair Corr
0.92	VUKE	Vanguard FTSE 100	Pair Corr
0.95	EUREUA	UBS Core MSCI	Pair Corr
0.95	JPNUKD	UBSFund Solutions MSCI	Pair Corr
0.88	XMME	Xtrackers MSCI Emerging	Pair Corr
0.86	SMHV	VanEck Semiconductor	Pair Corr
0.9	CCUSAS	UBS Fund Solutions	Pair Corr
0.86	IAEX	iShares AEX UCITS	Pair Corr
0.62	UT7US	UBSFund Solutions	Pair Corr
0.9	AGED	iShares Ageing Population	Pair Corr
0.93	ZGLDHE	ZKB Gold ETF	Pair Corr
0.65	IUSE	iShares SP 500	Pair Corr
0.73	ZSILHC	ZKB Silver ETF	Pair Corr
0.85	DCCHAS	UBS Fund Solutions	Pair Corr
0.62	USEUWH	UBS ETF plc	Pair Corr
0.72	ZSIL	ZKB Silver ETF	Pair Corr
0.61	USGBPA	UBS ETF plc	Pair Corr
0.9	SMICHA	UBS ETF SMI	Pair Corr
0.91	LYBNK	Multi Units Luxembourg	Pair Corr
0.62	US3	Amundi Treasury Bond	Pair Corr
0.92	LYLVE	Lyxor Euro Stoxx	Pair Corr
0.87	AUCO	LG Gold Mining	Pair Corr
0.86	STWX	SPDR MSCI Europe	Pair Corr
0.9	SX7PEX	iShares STOXX Europe	Pair Corr
0.91	SW2CHB	UBSFund Solutions MSCI	Pair Corr
0.95	HMXJ	HSBC MSCI Pacific	Pair Corr
0.8	SLICHA	UBS ETF SLI	Pair Corr
0.97	XLIS	Invesco Industrials	Pair Corr

Moving against IShares Etf

0.82	VUTA	Vanguard USD Treasury	Pair Corr
0.69	VETY	Vanguard EUR Eurozone	Pair Corr
0.65	VETA	Vanguard EUR Eurozone	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		-0.84	-0.83	0.02	-0.85	-0.56	-0.27	-0.9	IGEA
SEMI	0.0	-0.84		0.93	0.0	0.89	0.85	0.49	0.96	SEMI
CSUKX	0.0	-0.83	0.93		0.01	0.91	0.79	0.54	0.94	CSUKX
30ID	0.0	0.02	0.0	0.01		0.18	-0.07	-0.02	0.08	30ID
IASP	0.0	-0.85	0.89	0.91	0.18		0.65	0.49	0.95	IASP
IWDC	0.0	-0.56	0.85	0.79	-0.07	0.65		0.56	0.71	IWDC
IUHC	0.0	-0.27	0.49	0.54	-0.02	0.49	0.56		0.46	IUHC
IKOR	0.0	-0.9	0.96	0.94	0.08	0.95	0.71	0.46		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
IKOR	+ 0.95	IASP
IKOR	+ 0.94	CSUKX
CSUKX	+ 0.93	SEMI
IASP	+ 0.91	CSUKX
IASP	+ 0.89	SEMI

High negative correlations

IKOR	- 0.9	IGEA
IASP	- 0.85	IGEA
SEMI	- 0.84	IGEA
CSUKX	- 0.83	IGEA
IWDC	- 0.56	IGEA
IUHC	- 0.27	IGEA

IShares Edge Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Edge 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 Edge'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	0.28	(0.07)	0.00	1.88	0.00	0.00	0.54	(0.87)	2.10
SEMI	1.53	0.32	0.13	22.89	1.73	(1.73)	4.33	(2.47)	10.21
CSUKX	0.54	0.11	0.10	0.47	0.45	(0.59)	1.22	(1.02)	2.71
30ID	0.08	0.00	(0.14)	(0.03)	0.12	(0.20)	0.19	(0.19)	1.32
IASP	0.38	0.09	0.06	0.52	0.24	(0.71)	1.27	(0.71)	2.69
IWDC	0.48	0.00	(0.07)	0.06	0.61	(0.48)	0.97	(1.08)	2.73
IUHC	0.64	0.03	(0.02)	0.29	0.66	(0.75)	1.51	(1.17)	3.95
IKOR	1.62	0.63	0.24	(1.83)	1.44	(2.14)	3.48	(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 Edge 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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