IShares Global Correlations

IXN Etf

USD 108.11 0.74 0.69%

The current 90-days correlation between iShares Global Tech and iShares MSCI World is 0.85 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Global Tech moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Global Correlation With Market

Poor diversification

The correlation between iShares Global Tech and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Global Tech 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 Global Tech. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in median.

Moving together with IShares Etf

0.73	VGT	Vanguard Information	Pair Corr
0.83	XLK	Technology Select Sector Aggressive Push	Pair Corr
0.7	IYW	iShares Technology ETF	Pair Corr
0.81	SMH	VanEck Semiconductor ETF	Pair Corr
0.78	SOXX	iShares Semiconductor ETF	Pair Corr
0.74	FTEC	Fidelity MSCI Information	Pair Corr
0.7	IGM	iShares Expanded Tech	Pair Corr
0.63	AGQ	ProShares Ultra Silver Buyout Trend	Pair Corr
0.93	USD	ProShares Ultra Semi	Pair Corr
0.65	JNUG	Direxion Daily Junior	Pair Corr
0.65	NUGT	Direxion Daily Gold	Pair Corr
0.63	AHYB	American Century ETF	Pair Corr
0.62	BINC	BlackRock ETF Trust Sell-off Trend	Pair Corr
0.66	BA	Boeing	Pair Corr

Moving against IShares Etf

0.31

TRV

The Travelers Companies

Pair Corr

Related Correlations Analysis

	IJS	IJT	IBB	IJJ	URTH	VINAX	IOO	ACWX	PPA	FXI
IJS		0.98	0.71	0.99	0.91	0.56	0.65	0.91	0.74	0.17	IJS
IJT	0.98		0.73	0.97	0.92	0.52	0.68	0.85	0.73	0.18	IJT
IBB	0.71	0.73		0.73	0.7	0.02	0.34	0.61	0.32	0.0	IBB
IJJ	0.99	0.97	0.73		0.92	0.51	0.64	0.89	0.71	0.15	IJJ
URTH	0.91	0.92	0.7	0.92		0.54	0.82	0.89	0.74	0.35	URTH
VINAX	0.56	0.52	0.02	0.51	0.54		0.68	0.65	0.85	0.52	VINAX
IOO	0.65	0.68	0.34	0.64	0.82	0.68		0.67	0.76	0.56	IOO
ACWX	0.91	0.85	0.61	0.89	0.89	0.65	0.67		0.8	0.33	ACWX
PPA	0.74	0.73	0.32	0.71	0.74	0.85	0.76	0.8		0.55	PPA
FXI	0.17	0.18	0.0	0.15	0.35	0.52	0.56	0.33	0.55		FXI
	IJS	IJT	IBB	IJJ	URTH	VINAX	IOO	ACWX	PPA	FXI

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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

IJJ	+ 0.99	IJS
IJT	+ 0.98	IJS
IJJ	+ 0.97	IJT
URTH	+ 0.92	IJT
URTH	+ 0.92	IJJ
URTH	+ 0.91	IJS

High negative correlations

FXI

- 0.0

IBB

IShares Global Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Global 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 Global'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
IJS	0.89	0.11	0.13	0.19	0.69	(1.04)	2.40	(1.82)	5.07
IJT	0.78	0.04	0.06	0.13	0.72	(0.88)	2.30	(1.47)	4.91
IBB	0.99	0.06	0.03	0.18	0.92	(1.16)	2.60	(1.68)	5.75
IJJ	0.75	0.09	0.12	0.19	0.56	(0.94)	2.16	(1.27)	4.42
URTH	0.54	0.01	(0.01)	0.11	0.68	(0.54)	1.11	(1.33)	3.32
VINAX	0.82	0.24	0.15	(5.18)	0.68	(0.98)	1.75	(1.71)	4.11
IOO	0.57	0.00	(0.04)	0.09	0.75	(0.55)	1.18	(1.54)	4.31
ACWX	0.59	0.17	0.10	4.71	0.56	(0.65)	1.34	(1.22)	3.21
PPA	1.08	0.16	0.11	0.29	0.98	(1.23)	2.59	(1.90)	5.72
FXI	0.86	(0.08)	0.00	(0.02)	0.00	0.00	2.05	(1.58)	6.86

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