IShares Aaa Correlations

QLTA Etf

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The current 90-days correlation between iShares Aaa and SPDR Portfolio Corporate is 0.98 (i.e., Almost no diversification). The correlation of IShares Aaa 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 Aaa Correlation With Market

Poor diversification

The correlation between iShares Aaa and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Aaa and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IShares Etf

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

Moving together with IShares Etf

0.99	LQD	iShares iBoxx Investment	Pair Corr
0.96	IGIB	iShares 5 10	Pair Corr
0.98	USIG	iShares Broad USD	Pair Corr
0.9	SPIB	SPDR Barclays Interm	Pair Corr
0.99	SUSC	iShares ESG USD	Pair Corr
0.99	CORP	PIMCO Investment Grade	Pair Corr
0.99	FLCO	Franklin Liberty Inv	Pair Corr
0.99	GIGB	Goldman Sachs Access	Pair Corr
0.99	VTC	Vanguard Total Corporate	Pair Corr
0.63	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.63	DGP	DB Gold Double	Pair Corr
0.75	TAXT	Northern Trust Tax	Pair Corr
0.62	PSFD	Pacer Swan SOS	Pair Corr
0.68	UMAY	Innovator ETFs Trust	Pair Corr
0.66	PCEM	Litman Gregory Funds	Pair Corr
0.68	XFIX	Fm Investments Symbol Change	Pair Corr
0.69	XYLD	Global X SP	Pair Corr
0.71	EDGI	Advisors Inner	Pair Corr
0.67	EURL	Direxion Daily FTSE	Pair Corr
0.71	GPT	Intelligent Alpha Atlas Symbol Change	Pair Corr
0.61	NBCE	Neuberger Berman ETF	Pair Corr
0.71	UDI	USCF ETF Trust	Pair Corr
0.78	JEPI	JPMorgan Equity Premium	Pair Corr
0.7	EWT	iShares MSCI Taiwan	Pair Corr
0.72	BMVP	Invesco Bloomberg MVP	Pair Corr
0.62	TLCI	Touchstone ETF Trust	Pair Corr
0.7	DOGG	First Trust Exchange	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.46	0.43	0.16	-0.53	-0.1	0.33	0.48	0.43	META
MSFT	-0.41		0.8	-0.53	-0.65	0.71	0.81	0.06	-0.85	-0.91	MSFT
UBER	-0.46	0.8		-0.46	-0.48	0.78	0.53	-0.09	-0.8	-0.74	UBER
F	0.43	-0.53	-0.46		0.06	-0.41	-0.23	0.3	0.68	0.6	F
T	0.16	-0.65	-0.48	0.06		-0.39	-0.75	-0.13	0.4	0.58	T
A	-0.53	0.71	0.78	-0.41	-0.39		0.48	-0.04	-0.63	-0.78	A
CRM	-0.1	0.81	0.53	-0.23	-0.75	0.48		0.44	-0.56	-0.81	CRM
JPM	0.33	0.06	-0.09	0.3	-0.13	-0.04	0.44		0.21	-0.08	JPM
MRK	0.48	-0.85	-0.8	0.68	0.4	-0.63	-0.56	0.21		0.82	MRK
XOM	0.43	-0.91	-0.74	0.6	0.58	-0.78	-0.81	-0.08	0.82		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

XOM	+ 0.82	MRK
CRM	+ 0.81	MSFT
UBER	+ 0.8	MSFT
A	+ 0.78	UBER
A	+ 0.71	MSFT
MRK	+ 0.68	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.85	MSFT
XOM	- 0.81	CRM
MRK	- 0.8	UBER
XOM	- 0.78	A
CRM	- 0.75	T

IShares Aaa Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Aaa 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 Aaa'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	1.51	0.00	(0.02)	0.06	1.53	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.36)	0.00	(0.92)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.50	(0.46)	0.00	(0.90)	0.00	0.00	2.41	(3.82)	11.09
F	1.22	0.07	0.05	0.14	1.20	(1.48)	3.34	(2.30)	7.16
T	1.02	0.23	0.17	3.71	0.77	(1.19)	3.87	(1.54)	5.31
A	1.27	(0.30)	0.00	(0.17)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.68	(0.41)	0.00	(0.35)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.15)	0.00	(0.04)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.35	0.49	0.35	0.77	0.97	(1.72)	3.59	(1.98)	8.74
XOM	1.24	0.36	0.22	1.65	1.11	(1.42)	2.68	(2.12)	6.83

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