IShares Trust Correlations

TOPC Etf

31.41 0.13 0.42%

The current 90-days correlation between iShares Trust and Cullen Small Cap is 0.71 (i.e., 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

Very poor diversification

The correlation between iShares Trust and DJI is 0.87 (i.e., Very 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 World Market Map 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 employment.

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

Moving together with IShares Etf

0.98	VTI	Vanguard Total Stock	Pair Corr
0.96	SPY	SPDR SP 500	Pair Corr
0.96	IVV	iShares Core SP	Pair Corr
0.86	VTV	Vanguard Value Index	Pair Corr
0.8	VUG	Vanguard Growth Index	Pair Corr
0.69	VO	Vanguard Mid Cap	Pair Corr
0.91	VEA	Vanguard FTSE Developed	Pair Corr
0.87	VB	Vanguard Small Cap	Pair Corr
0.76	FB	ProShares Trust ProShares	Pair Corr
0.98	TOT	Advisor Managed Port	Pair Corr
0.77	DUKH	Ocean Park High	Pair Corr
0.8	SLX	VanEck Steel ETF	Pair Corr
0.8	ZJAN	Innovator Equity Defined	Pair Corr
0.75	JADE	JP Morgan Exchange	Pair Corr
0.78	CPER	United States Copper	Pair Corr
0.85	QQQM	Invesco NASDAQ 100	Pair Corr
0.82	SCZ	iShares MSCI EAFE	Pair Corr
0.82	QULL	ETRACS 2x Leveraged	Pair Corr
0.92	QLC	FlexShares Quality Large	Pair Corr
0.84	HYSD	Columbia ETF Trust	Pair Corr
0.76	QQH	HCM Defender 100	Pair Corr
0.69	FFLG	Fidelity Covington Trust Low Volatility	Pair Corr
0.96	VOO	Vanguard SP 500	Pair Corr
0.82	AGEM	abrdn Emerging Markets	Pair Corr
0.64	MYCI	SPDR SSGA My2029	Pair Corr
0.9	CSD	Invesco SP Spin	Pair Corr

Moving against IShares Etf

0.86	VXX	iPath Series B Sell-off Trend	Pair Corr
0.64	NFLX	Netflix	Pair Corr
0.31	GBTC	Grayscale Bitcoin Trust	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	0.57	-0.64	0.57	-0.6	0.23	-0.14	-0.59	-0.63	META
MSFT	0.66		0.83	-0.51	0.36	-0.22	0.09	-0.3	-0.77	-0.6	MSFT
UBER	0.57	0.83		-0.62	0.57	-0.33	-0.1	-0.2	-0.84	-0.59	UBER
F	-0.64	-0.51	-0.62		-0.71	0.56	0.27	0.38	0.7	0.76	F
T	0.57	0.36	0.57	-0.71		-0.57	-0.45	-0.16	-0.54	-0.49	T
A	-0.6	-0.22	-0.33	0.56	-0.57		-0.17	-0.25	0.51	0.28	A
CRM	0.23	0.09	-0.1	0.27	-0.45	-0.17		0.33	0.01	0.13	CRM
JPM	-0.14	-0.3	-0.2	0.38	-0.16	-0.25	0.33		0.25	0.36	JPM
MRK	-0.59	-0.77	-0.84	0.7	-0.54	0.51	0.01	0.25		0.64	MRK
XOM	-0.63	-0.6	-0.59	0.76	-0.49	0.28	0.13	0.36	0.64		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

UBER	+ 0.83	MSFT
XOM	+ 0.76	F
MRK	+ 0.7	F
MSFT	+ 0.66	META
XOM	+ 0.64	MRK
UBER	+ 0.57	META

High negative correlations

MRK	- 0.84	UBER
MRK	- 0.77	MSFT
T	- 0.71	F
F	- 0.64	META
XOM	- 0.63	META
F	- 0.62	UBER

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	1.40	(0.25)	0.00	(0.21)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.92	(0.12)	0.00	(0.14)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.48	(0.36)	0.00	(0.28)	0.00	0.00	2.60	(3.82)	10.51
F	1.51	0.15	0.09	0.16	1.69	(1.65)	3.38	(2.63)	16.30
T	0.96	(0.26)	0.00	(0.85)	0.00	0.00	1.61	(2.18)	5.75
A	1.25	0.08	0.06	0.13	1.31	(1.37)	2.34	(2.21)	11.03
CRM	1.57	0.03	0.02	0.09	2.02	(1.54)	3.66	(2.92)	9.91
JPM	1.03	0.00	0.01	0.06	1.41	(1.02)	2.00	(1.91)	7.02
MRK	1.45	0.38	0.27	0.50	1.07	(1.86)	4.85	(2.06)	11.45
XOM	0.96	0.09	0.04	0.47	0.99	(1.02)	1.96	(1.51)	4.99

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