IShares Trust Correlations

MADE Etf

32.19 0.63 1.92%

The current 90-days correlation between iShares Trust and Invesco Exchange Traded is 0.8 (i.e., Very poor 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 0.78 (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 american community survey.

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

Moving together with IShares Etf

0.81	XLI	Industrial Select Sector	Pair Corr
0.67	VIS	Vanguard Industrials	Pair Corr
0.79	JETS	US Global Jets	Pair Corr
0.71	FXR	First Trust Industri	Pair Corr
0.75	IYJ	iShares Industrials ETF	Pair Corr
0.84	IYT	iShares Transportation	Pair Corr
0.77	FIDU	Fidelity MSCI Industrials	Pair Corr
0.9	ITDD	iShares Trust	Pair Corr
0.61	AMPD	Tidal ETF Services	Pair Corr
0.91	CPST	Calamos ETF Trust	Pair Corr
0.72	ITWO	Proshares Russell 2000	Pair Corr
0.84	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.88	AXP	American Express	Pair Corr
0.83	AA	Alcoa Corp	Pair Corr
0.85	CAT	Caterpillar	Pair Corr
0.81	DD	Dupont De Nemours	Pair Corr
0.61	CSCO	Cisco Systems	Pair Corr
0.68	MRK	Merck Company Sell-off Trend	Pair Corr
0.68	IBM	International Business	Pair Corr
0.9	BAC	Bank of America Earnings Call This Week	Pair Corr

Moving against IShares Etf

0.47	HD	Home Depot Sell-off Trend	Pair Corr
0.75	T	ATT Inc	Pair Corr
0.68	PG	Procter Gamble	Pair Corr
0.51	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	RSPE	YFYA	SNAV	AUGZ	XNOV	UXI	XTAP	JUSA	SFYX	EGUS
RSPE		0.85	0.84	0.79	0.84	0.83	0.93	0.83	0.93	0.42	RSPE
YFYA	0.85		0.67	0.72	0.92	0.59	0.93	0.77	0.69	0.43	YFYA
SNAV	0.84	0.67		0.96	0.63	0.85	0.8	0.96	0.88	0.79	SNAV
AUGZ	0.79	0.72	0.96		0.69	0.77	0.83	0.99	0.79	0.88	AUGZ
XNOV	0.84	0.92	0.63	0.69		0.49	0.95	0.75	0.67	0.4	XNOV
UXI	0.83	0.59	0.85	0.77	0.49		0.68	0.76	0.9	0.51	UXI
XTAP	0.93	0.93	0.8	0.83	0.95	0.68		0.88	0.8	0.54	XTAP
JUSA	0.83	0.77	0.96	0.99	0.75	0.76	0.88		0.8	0.85	JUSA
SFYX	0.93	0.69	0.88	0.79	0.67	0.9	0.8	0.8		0.47	SFYX
EGUS	0.42	0.43	0.79	0.88	0.4	0.51	0.54	0.85	0.47		EGUS
	RSPE	YFYA	SNAV	AUGZ	XNOV	UXI	XTAP	JUSA	SFYX	EGUS

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IShares Trust Constituents 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
RSPE	0.65	0.00	(0.01)	0.06	0.79	(0.68)	1.46	(1.10)	2.99
YFYA	0.09	0.01	(0.34)	0.26	0.00	(0.14)	0.20	(0.10)	0.81
SNAV	0.61	(0.04)	(0.05)	0.02	0.89	(0.56)	1.21	(1.37)	3.26
AUGZ	0.47	(0.01)	(0.05)	0.04	0.66	(0.45)	0.98	(0.93)	2.67
XNOV	0.12	0.03	(0.10)	0.29	0.00	(0.15)	0.34	(0.24)	1.07
UXI	1.51	(0.06)	0.01	0.04	1.98	(1.50)	2.55	(3.39)	7.40
XTAP	0.18	0.01	(0.09)	0.11	0.21	(0.18)	0.50	(0.57)	1.14
JUSA	0.58	(0.01)	(0.02)	0.05	0.80	(0.53)	1.20	(1.16)	3.26
SFYX	0.90	(0.01)	0.01	0.06	1.07	(0.92)	1.66	(1.70)	4.50
EGUS	0.79	(0.02)	(0.02)	0.04	1.16	(0.72)	1.86	(1.95)	4.60

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