IShares Global Correlations

Etfs . USA . 
Etf . iShares Global Materials
MXI Etf  USD 81.47  0.84  1.02%   
The current 90-days correlation between iShares Global Materials and iShares Global Industrials is 0.67 (i.e., Poor 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.

IShares Global Correlation With Market

Weak diversification

The correlation between iShares Global Materials and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Global Materials and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in iShares Global Materials. 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

  0.75EV Mast Global BatteryPairCorr
  0.95XLB Materials Select SectorPairCorr
  0.94VAW Vanguard Materials IndexPairCorr
  0.84XME SPDR SP MetalsPairCorr
  0.76PHO Invesco Water ResourcesPairCorr
  0.87MOO VanEck Agribusiness ETFPairCorr
  0.96FXZ First Trust MaterialsPairCorr
  0.74FIW First Trust WaterPairCorr
  0.81URNM Sprott Uranium MinersPairCorr
  0.96IYM iShares Basic MaterialsPairCorr
  0.64VZ Verizon CommunicationsPairCorr
  0.91JNJ Johnson JohnsonPairCorr
  0.72CAT Caterpillar Earnings Call This WeekPairCorr
  0.9DD Dupont De Nemours Earnings Call This WeekPairCorr
  0.79HPQ HP IncPairCorr
  0.71KO Coca Cola Earnings Call This WeekPairCorr
  0.73INTC IntelPairCorr
  0.83XOM Exxon Mobil Corp Fiscal Year End 7th of February 2025 PairCorr

Moving against IShares Etf

  0.79DSJA DSJAPairCorr
  0.71RSPY Tuttle Capital ManagementPairCorr
  0.58MEME Roundhill InvestmentsPairCorr
  0.52AMPD Tidal Trust IIPairCorr
  0.46DIS Walt Disney Earnings Call This WeekPairCorr
  0.74BA BoeingPairCorr

Related Correlations Analysis

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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   
IXG
+ 0.72
EXI
KXI
+ 0.7
JXI
JXI
+ 0.68
EXI
KXI
+ 0.61
EXI
IXG
+ 0.53
RXI
IXG
+ 0.28
JXI
  
High negative correlations   
RXI
- 0.47
JXI
RXI
- 0.13
KXI

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.

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