IShares Equity Correlations

USEE Fund

5.43 0.07 1.31%

The current 90-days correlation between iShares Equity Enhanced and Groupama Entreprises N is 0.05 (i.e., Significant diversification). The correlation of IShares Equity 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 Equity Correlation With Market

Average diversification

The correlation between iShares Equity Enhanced and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Equity Enhanced and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares Equity could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IShares Equity when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back IShares Equity - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling iShares Equity Enhanced to buy it.

Moving together with IShares Fund

0.83	0P00001S8S	Groupama Entreprises	Pair Corr
0.83	0P0001F96C	CM AM Monplus	Pair Corr
0.93	FJ2P	FF Global	Pair Corr
0.84	0P000011YA	BBVA Telecomunicaciones	Pair Corr
0.87	UG72	UBS Money Market	Pair Corr
0.8	DEDL	BerolinaCapital Premium	Pair Corr

Moving against IShares Fund

0.53	DBPD	Xtrackers ShortDAX	Pair Corr
0.49	0P00000PM8	Renaissance Europe	Pair Corr

Related Correlations Analysis

	0P00001S8S	0P00000PM8	8SP	INL	VOW	BTC1	RS6	RRU	XYTA	9K1
0P00001S8S		-0.53	-0.48	-0.54	-0.2	0.87	-0.09	0.43	-0.58	-0.92	0P00001S8S
0P00000PM8	-0.53		0.71	-0.18	0.58	-0.58	-0.19	0.19	0.36	0.43	0P00000PM8
8SP	-0.48	0.71		-0.1	0.38	-0.5	-0.13	0.09	0.23	0.39	8SP
INL	-0.54	-0.18	-0.1		-0.47	-0.25	0.62	-0.47	0.16	0.51	INL
VOW	-0.2	0.58	0.38	-0.47		-0.54	-0.77	0.03	0.34	0.31	VOW
BTC1	0.87	-0.58	-0.5	-0.25	-0.54		0.32	0.37	-0.64	-0.9	BTC1
RS6	-0.09	-0.19	-0.13	0.62	-0.77	0.32		-0.07	-0.2	-0.07	RS6
RRU	0.43	0.19	0.09	-0.47	0.03	0.37	-0.07		-0.15	-0.57	RRU
XYTA	-0.58	0.36	0.23	0.16	0.34	-0.64	-0.2	-0.15		0.59	XYTA
9K1	-0.92	0.43	0.39	0.51	0.31	-0.9	-0.07	-0.57	0.59		9K1
	0P00001S8S	0P00000PM8	8SP	INL	VOW	BTC1	RS6	RRU	XYTA	9K1

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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

BTC1	+ 0.87	0P00001S8S
8SP	+ 0.71	0P00000PM8
RS6	+ 0.62	INL
9K1	+ 0.59	XYTA
VOW	+ 0.58	0P00000PM8
9K1	+ 0.51	INL

High negative correlations

9K1	- 0.92	0P00001S8S
9K1	- 0.9	BTC1
RS6	- 0.77	VOW
XYTA	- 0.64	BTC1
BTC1	- 0.58	0P00000PM8
XYTA	- 0.58	0P00001S8S

Risk-Adjusted Indicators

There is a big difference between IShares Fund performing well and IShares Equity Fund 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 Equity'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
0P00001S8S	0.01	0.00	0.00	(2.27)	0.00	0.00	0.04	0.00	0.05
0P00000PM8	0.70	(0.06)	0.00	1.16	0.00	0.00	1.10	(1.76)	3.34
8SP	2.09	(0.13)	0.00	(0.17)	0.00	0.00	3.17	(4.56)	20.22
INL	2.51	0.00	(0.01)	(0.02)	3.06	(2.68)	7.04	(5.34)	16.28
VOW	1.11	(0.02)	0.00	0.17	0.00	0.00	2.81	(2.16)	5.55
BTC1	2.60	0.93	0.40	2.99	1.68	(3.22)	6.90	(3.52)	16.09
RS6	1.39	0.09	0.04	(0.32)	1.50	(1.57)	2.92	(2.93)	15.24
RRU	1.61	0.11	0.05	0.64	1.91	(1.78)	3.27	(2.92)	9.56
XYTA	8.71	0.82	0.02	(0.11)	11.69	(48.61)	33.33	(33.33)	150.00
9K1	2.00	(0.37)	0.00	10.52	0.00	0.00	3.59	(5.13)	14.80

IShares Equity Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with IShares Equity fund to make a market-neutral strategy. Peer analysis of IShares Equity could also be used in its relative valuation, which is a method of valuing IShares Equity by comparing valuation metrics with similar companies.

Groupama Entreprises N Renaissance Europe C Superior Plus Corp Intel Volkswagen AG Bitwise Core Bitcoin Reliance Steel Aluminum Rolls Royce Holdings plc CHINA HUARONG ENERHD 50 NORDIC HALIBUT AS American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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