IShares Top Correlations

TOPT Etf

30.68 0.16 0.52%

The current 90-days correlation between iShares Top 20 and Invesco SP MidCap is 0.29 (i.e., Modest diversification). The correlation of IShares Top 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. If the correlation is 0, the equities are not correlated; they are entirely random.

IShares Top Correlation With Market

Average diversification

The correlation between iShares Top 20 and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Top 20 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 Top 20. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with IShares Etf

0.92

VUG

Vanguard Growth Index

Pair Corr

Moving against IShares Etf

0.41	XOM	Exxon Mobil Corp Earnings Call Today	Pair Corr
0.39	CVX	Chevron Corp Earnings Call Today	Pair Corr

Related Correlations Analysis

	IQQQ	GDEC	HAWX	USCI	INCO	USSE	DJUN	HEDG	USNZ	RFV
IQQQ		0.47	0.42	0.35	-0.19	0.8	0.55	0.46	0.72	0.36	IQQQ
GDEC	0.47		0.87	0.55	-0.61	0.59	0.99	0.99	0.69	0.85	GDEC
HAWX	0.42	0.87		0.74	-0.65	0.65	0.9	0.9	0.64	0.85	HAWX
USCI	0.35	0.55	0.74		-0.76	0.49	0.6	0.6	0.38	0.59	USCI
INCO	-0.19	-0.61	-0.65	-0.76		-0.25	-0.61	-0.65	-0.22	-0.65	INCO
USSE	0.8	0.59	0.65	0.49	-0.25		0.67	0.59	0.88	0.57	USSE
DJUN	0.55	0.99	0.9	0.6	-0.61	0.67		0.99	0.73	0.85	DJUN
HEDG	0.46	0.99	0.9	0.6	-0.65	0.59	0.99		0.67	0.86	HEDG
USNZ	0.72	0.69	0.64	0.38	-0.22	0.88	0.73	0.67		0.69	USNZ
RFV	0.36	0.85	0.85	0.59	-0.65	0.57	0.85	0.86	0.69		RFV
	IQQQ	GDEC	HAWX	USCI	INCO	USSE	DJUN	HEDG	USNZ	RFV

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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

DJUN	+ 0.99	GDEC
HEDG	+ 0.99	GDEC
HEDG	+ 0.99	DJUN
DJUN	+ 0.9	HAWX
HEDG	+ 0.9	HAWX
USNZ	+ 0.88	USSE

High negative correlations

INCO	- 0.76	USCI
RFV	- 0.65	INCO
HEDG	- 0.65	INCO
INCO	- 0.65	HAWX
DJUN	- 0.61	INCO
INCO	- 0.61	GDEC

IShares Top Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Top 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 Top'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
IQQQ	0.75	0.04	0.00	0.63	1.11	(0.71)	1.43	(1.97)	4.77
GDEC	0.20	0.04	(0.03)	1.40	0.18	(0.22)	0.60	(0.41)	1.81
HAWX	0.48	0.07	0.08	0.16	0.51	(0.52)	1.11	(0.98)	3.06
USCI	0.80	0.15	0.13	1.10	0.69	(0.92)	1.53	(1.20)	3.32
INCO	0.62	(0.15)	0.00	(0.50)	0.00	0.00	0.85	(1.28)	4.08
USSE	0.68	(0.01)	(0.02)	0.04	0.88	(0.68)	1.15	(1.68)	3.96
DJUN	0.16	0.02	(0.11)	0.51	0.12	(0.16)	0.42	(0.36)	1.23
HEDG	0.20	0.04	(0.04)	0.90	0.12	(0.22)	0.53	(0.45)	1.55
USNZ	0.56	(0.02)	(0.04)	0.02	0.76	(0.57)	1.17	(1.30)	4.07
RFV	0.79	0.01	0.01	0.06	0.91	(0.86)	2.42	(1.60)	4.85

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