IShares Global Correlations

Etfs . USA . 
Etf . iShares Global Comm
IXP Etf  USD 121.54  0.60  0.49%   
The current 90-days correlation between iShares Global Comm and iShares Basic Materials is 0.23 (i.e., Modest 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

Poor diversification

The correlation between iShares Global Comm and DJI is 0.69 (i.e., Poor 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 median.

Moving together with IShares Etf

  0.88XLC Communication Services Sell-off TrendPairCorr
  0.9VOX Vanguard CommunicationPairCorr
  0.9FCOM Fidelity MSCI CommunPairCorr
  0.74IYZ IShares Telecommunicatio Low VolatilityPairCorr
  0.85FBL GraniteShares 15x LongPairCorr
  0.61JNUG Direxion Daily JuniorPairCorr
  0.82GGLL Direxion Daily GOOGL Downward RallyPairCorr
  0.76BINC BlackRock ETF TrustPairCorr
  0.66RDIV Invesco SP UltraPairCorr
  0.71OASC OneAscent Small CapPairCorr
  0.63VBK Vanguard Small CapPairCorr
  0.77AHYB American Century ETFPairCorr
  0.62PFE Pfizer Inc Aggressive PushPairCorr
  0.62AA Alcoa CorpPairCorr
  0.66WMT Walmart Common Stock Aggressive PushPairCorr
  0.66DD Dupont De Nemours Earnings Call This WeekPairCorr

Moving against IShares Etf

  0.46GBTC Grayscale Bitcoin TrustPairCorr
  0.44ESPO VanEck Video GamingPairCorr
  0.4GAMR Amplify Video GamePairCorr
  0.37FNGO MicroSectors FANG IndexPairCorr
  0.54MSFT MicrosoftPairCorr
  0.48HPQ HP IncPairCorr
  0.31MMM 3M CompanyPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DNL  0.78 (0.01)(0.01) 0.07  0.93 
(0.83)
 1.69 
(1.84)
 4.03 
SLVP  2.70  0.66  0.13 (0.97) 3.42 
(2.96)
 6.14 
(5.48)
 21.56 
JKL  0.79  0.14  0.07  1.35  0.71 
(0.94)
 2.14 
(1.41)
 4.40 
EQL  0.47  0.05  0.03  0.15  0.46 
(0.49)
 1.01 
(0.97)
 2.73 
IYM  0.98  0.26  0.19  0.32  1.00 
(1.05)
 2.30 
(1.61)
 5.85 
CXSE  0.86 (0.09) 0.00 (0.06) 0.00 
 0.00 
 1.75 
(1.65)
 5.35 
ISCF  0.60  0.14  0.06 (1.38) 0.71 
(0.60)
 1.28 
(1.32)
 3.28 
IDHQ  0.66  0.09  0.10  0.20  0.61 
(0.75)
 1.60 
(1.13)
 3.38 
EZA  1.33  0.29  0.08 (0.74) 2.08 
(1.28)
 2.96 
(2.67)
 11.71 
CFA  0.53  0.04  0.03  0.13  0.46 
(0.61)
 1.39 
(1.03)
 3.09 

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