IShares Trust Correlations

LMUB Etf

50.69 0.36 0.71%

The current 90-days correlation between iShares Trust and Fidelity Advisor Health is 0.09 (i.e., Significant diversification). The correlation of IShares Trust 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.

IShares Trust Correlation With Market

Poor diversification

The correlation between iShares Trust and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Trust and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IShares Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in iShares Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

For information on how to trade IShares Etf refer to our How to Trade IShares Etf guide.

Moving together with IShares Etf

0.97	TFI	SPDR Nuveen Bloomberg	Pair Corr
0.97	PZA	Invesco National AMT	Pair Corr
0.84	BAB	Invesco Taxable Municipal	Pair Corr
0.82	MMIN	IQ MacKay Municipal	Pair Corr
0.92	MLN	VanEck Long Muni	Pair Corr
0.81	RVNU	Xtrackers Municipal	Pair Corr
0.97	FLMB	Franklin Liberty Federal	Pair Corr
0.87	RTAI	Rareview Tax Advantaged	Pair Corr
0.64	ITWO	Proshares Russell 2000	Pair Corr
0.8	AMPD	Tidal ETF Services	Pair Corr
0.74	CPST	Calamos ETF Trust	Pair Corr
0.9	IGEB	iShares Edge Investment	Pair Corr
0.78	KNGZ	First Trust Exchange	Pair Corr
0.89	DFIC	Dimensional International	Pair Corr
0.85	DES	WisdomTree SmallCap	Pair Corr
0.85	FYT	First Trust Small	Pair Corr
0.81	HIYS	Invesco High Yield Symbol Change	Pair Corr
0.82	FNK	First Trust Mid	Pair Corr
0.87	IXUS	iShares Core MSCI	Pair Corr
0.88	QLV	FlexShares Quality Low	Pair Corr
0.87	ILOW	AB Active ETFs	Pair Corr
0.89	VEA	Vanguard FTSE Developed	Pair Corr
0.81	CEFD	ETRACS Monthly Pay	Pair Corr
0.95	ERET	iShares Environmentally	Pair Corr
0.77	SLYV	SPDR SP 600	Pair Corr
0.89	STXV	EA Series Trust	Pair Corr
0.84	EMIF	iShares Emerging Markets	Pair Corr
0.85	LQIG	SPDR MarketAxess Inv	Pair Corr
0.87	FTCS	First Trust Capital	Pair Corr
0.71	RSST	Return Stacked Stocks	Pair Corr
0.96	TAXT	Northern Trust Tax	Pair Corr
0.82	FNDA	Schwab Fundamental Small	Pair Corr
0.92	DXJ	WisdomTree Japan Hedged	Pair Corr
0.86	ESGD	iShares ESG Aware	Pair Corr
0.62	UAUG	Innovator Equity Ultra	Pair Corr

Moving against IShares Etf

0.73	MPAY	Exchange Traded Concepts	Pair Corr
0.37	SMI	Van Eck	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.08	-0.11	0.0	0.13	-0.21	-0.03	0.14	-0.01	0.15	META
MSFT	-0.08		0.84	-0.57	-0.87	0.83	0.92	0.41	-0.92	-0.95	MSFT
UBER	-0.11	0.84		-0.53	-0.77	0.85	0.76	0.25	-0.82	-0.83	UBER
F	0.0	-0.57	-0.53		0.35	-0.43	-0.45	-0.1	0.64	0.58	F
T	0.13	-0.87	-0.77	0.35		-0.71	-0.87	-0.34	0.79	0.79	T
A	-0.21	0.83	0.85	-0.43	-0.71		0.71	0.36	-0.75	-0.85	A
CRM	-0.03	0.92	0.76	-0.45	-0.87	0.71		0.57	-0.84	-0.9	CRM
JPM	0.14	0.41	0.25	-0.1	-0.34	0.36	0.57		-0.25	-0.43	JPM
MRK	-0.01	-0.92	-0.82	0.64	0.79	-0.75	-0.84	-0.25		0.92	MRK
XOM	0.15	-0.95	-0.83	0.58	0.79	-0.85	-0.9	-0.43	0.92		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

CRM	+ 0.92	MSFT
XOM	+ 0.92	MRK
A	+ 0.85	UBER
UBER	+ 0.84	MSFT
A	+ 0.83	MSFT
MRK	+ 0.79	T

High negative correlations

XOM	- 0.95	MSFT
MRK	- 0.92	MSFT
XOM	- 0.9	CRM
CRM	- 0.87	T
T	- 0.87	MSFT
XOM	- 0.85	A

IShares Trust Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Trust 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 Trust'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
META	1.45	0.03	0.01	0.08	1.59	(1.56)	2.38	(2.81)	13.69
MSFT	1.35	(0.25)	0.00	(0.52)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.58	(0.15)	0.00	(0.26)	0.00	0.00	2.70	(3.82)	11.09
F	1.31	(0.07)	0.00	(0.03)	0.00	0.00	3.61	(2.59)	9.82
T	1.06	0.19	0.12	(0.62)	0.93	(1.27)	3.87	(1.76)	7.44
A	1.22	(0.45)	0.00	(0.45)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.82	(0.20)	0.00	0.47	0.00	0.00	3.66	(4.75)	12.37
JPM	1.27	(0.06)	(0.02)	0.00	1.84	(1.28)	2.34	(3.11)	8.17
MRK	1.21	0.19	0.11	0.54	1.27	(1.29)	2.54	(2.06)	7.10
XOM	1.32	0.44	0.27	2.84	1.08	(1.56)	2.90	(2.44)	6.83

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