IShares Global Correlations

IXP Etf

USD 121.40 0.86 0.70%

The current 90-days correlation between iShares Global Comm and Franklin Core Dividend is 0.56 (i.e., Very weak diversification). The correlation of IShares Global 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 Global Correlation With Market

Weak diversification

The correlation between iShares Global Comm and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Global Comm 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 Comm. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

Moving together with IShares Etf

0.75	XLC	Communication Services Sell-off Trend	Pair Corr
0.75	VOX	Vanguard Communication	Pair Corr
0.76	FCOM	Fidelity MSCI Commun	Pair Corr
0.64	SPY	SPDR SP 500	Pair Corr
0.64	IVV	iShares Core SP	Pair Corr

Moving against IShares Etf

0.35

ENTR

EntrepreneurShares

Pair Corr

Related Correlations Analysis

	XHS	SPDV	SPXE	HIMZ	TMFS	XBOC	IAUG	FGM	SPVM	UDIV
XHS		-0.19	0.2	0.28	0.33	0.03	-0.14	-0.19	-0.19	-0.15	XHS
SPDV	-0.19		0.25	-0.96	0.32	0.69	0.95	0.94	0.97	0.81	SPDV
SPXE	0.2	0.25		-0.16	0.65	0.85	0.48	0.46	0.34	0.74	SPXE
HIMZ	0.28	-0.96	-0.16		-0.19	-0.62	-0.92	-0.91	-0.94	-0.73	HIMZ
TMFS	0.33	0.32	0.65	-0.19		0.65	0.44	0.42	0.42	0.54	TMFS
XBOC	0.03	0.69	0.85	-0.62	0.65		0.85	0.84	0.75	0.94	XBOC
IAUG	-0.14	0.95	0.48	-0.92	0.44	0.85		0.99	0.96	0.9	IAUG
FGM	-0.19	0.94	0.46	-0.91	0.42	0.84	0.99		0.95	0.9	FGM
SPVM	-0.19	0.97	0.34	-0.94	0.42	0.75	0.96	0.95		0.84	SPVM
UDIV	-0.15	0.81	0.74	-0.73	0.54	0.94	0.9	0.9	0.84		UDIV
	XHS	SPDV	SPXE	HIMZ	TMFS	XBOC	IAUG	FGM	SPVM	UDIV

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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

FGM	+ 0.99	IAUG
SPVM	+ 0.97	SPDV
SPVM	+ 0.96	IAUG
IAUG	+ 0.95	SPDV
SPVM	+ 0.95	FGM
FGM	+ 0.94	SPDV

High negative correlations

HIMZ	- 0.96	SPDV
SPVM	- 0.94	HIMZ
IAUG	- 0.92	HIMZ
FGM	- 0.91	HIMZ
UDIV	- 0.73	HIMZ
XBOC	- 0.62	HIMZ

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
XHS	0.82	(0.03)	(0.04)	0.04	1.14	(0.84)	2.15	(1.30)	6.71
SPDV	0.59	0.14	0.16	0.28	0.37	(0.65)	1.79	(1.00)	3.85
SPXE	0.56	(0.01)	(0.04)	0.07	0.67	(0.60)	1.01	(1.14)	3.88
HIMZ	5.81	(2.79)	0.00	(1.24)	0.00	0.00	8.06	(14.16)	50.97
TMFS	0.88	0.00	0.01	0.08	0.93	(1.01)	2.30	(1.49)	5.36
XBOC	0.28	0.02	(0.08)	0.12	0.27	(0.29)	0.61	(0.65)	2.20
IAUG	0.24	0.07	0.04	0.32	0.00	(0.29)	0.61	(0.48)	1.40
FGM	0.73	0.25	0.23	0.39	0.66	(0.87)	1.96	(1.27)	4.72
SPVM	0.54	0.10	0.13	0.21	0.36	(0.65)	1.35	(1.05)	3.11
UDIV	0.52	0.02	0.00	0.11	0.61	(0.56)	0.85	(1.19)	3.86

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