IShares JPX Correlations

JPXN Etf

USD 69.84 0.35 0.50%

The current 90-days correlation between iShares JPX Nikkei and iShares MSCI Japan is 0.88 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares JPX moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares JPX Nikkei 400 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares JPX Correlation With Market

Weak diversification

The correlation between iShares JPX Nikkei 400 and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares JPX Nikkei 400 and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iShares JPX Nikkei 400. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with IShares Etf

0.98	EWJ	iShares MSCI Japan	Pair Corr
0.98	BBJP	JPMorgan BetaBuilders	Pair Corr
0.98	FLJP	Franklin FTSE Japan	Pair Corr
0.92	DFJ	WisdomTree Japan SmallCap	Pair Corr
0.87	EWJV	iShares MSCI Japan	Pair Corr
0.97	SCJ	iShares MSCI Japan	Pair Corr
0.66	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.65	VZ	Verizon Communications Earnings Call Today	Pair Corr
0.62	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.68	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr

Moving against IShares Etf

0.31	VCAR	Simplify Volt RoboCar Symbol Change	Pair Corr
0.31	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	SCJ	HEWJ	HEWU	HEWC	EWUS
SCJ		0.21	0.25	-0.16	0.71	SCJ
HEWJ	0.21		-0.63	-0.29	-0.3	HEWJ
HEWU	0.25	-0.63		0.58	0.65	HEWU
HEWC	-0.16	-0.29	0.58		0.07	HEWC
EWUS	0.71	-0.3	0.65	0.07		EWUS
	SCJ	HEWJ	HEWU	HEWC	EWUS

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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

EWUS	+ 0.71	SCJ
EWUS	+ 0.65	HEWU
HEWC	+ 0.58	HEWU
HEWU	+ 0.25	SCJ
HEWJ	+ 0.21	SCJ
EWUS	+ 0.07	HEWC

High negative correlations

HEWU	- 0.63	HEWJ
EWUS	- 0.3	HEWJ
HEWC	- 0.29	HEWJ
HEWC	- 0.16	SCJ

IShares JPX Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares JPX 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 JPX'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
SCJ	0.62	(0.10)	0.00	(0.28)	0.00	0.00	1.23	(1.60)	4.03
HEWJ	0.77	(0.02)	0.00	(0.04)	0.00	0.00	1.67	(1.67)	5.48
HEWU	0.52	(0.04)	0.00	(0.35)	0.00	0.00	1.14	(1.31)	3.62
HEWC	0.56	0.00	(0.02)	0.32	0.68	(0.61)	1.19	(1.14)	3.40
EWUS	0.86	(0.14)	0.00	(0.44)	0.00	0.00	1.28	(2.11)	4.36

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