IShares SP Correlations

XCD Etf  CAD 62.00  0.50  0.81%   
The current 90-days correlation between iShares SP Global and iShares SP Global is -0.08 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares SP moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares SP Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares SP Correlation With Market

Significant diversification

The correlation between iShares SP Global and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares SP Global and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to IShares SP 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 SP 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 SP - 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 SP Global to buy it.

Moving together with IShares Etf

  0.9XIT iShares SPTSX CappedPairCorr
  0.76TXF First Asset TechPairCorr
  0.89TEC TD Global TechnologyPairCorr
  0.76CWW iShares Global WaterPairCorr
  0.87CBCX CI Galaxy BlockchainPairCorr
  0.85FBTC Fidelity AdvantagePairCorr
  0.85ETC Evolve CryptocurrenciesPairCorr
  0.85EBIT Bitcoin ETF CADPairCorr
  0.85BTCQ 3iQ Bitcoin ETFPairCorr
  0.85BTCC Purpose Bitcoin CADPairCorr
  0.85BTCY Purpose Bitcoin YieldPairCorr
  0.89BITC Ninepoint Bitcoin ETFPairCorr
  0.84FETH Fidelity Advantage EtherPairCorr

Moving against IShares Etf

  0.83XHC iShares Global HealthcarePairCorr
  0.79HHL Harvest HealthcarePairCorr
  0.74ZUH BMO Equal WeightPairCorr

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   
JPMCRM
CRMT
JPMT
CRMMETA
JPMF
MRKA
  
High negative correlations   
MRKJPM
MRKCRM
MRKT
TUBER
XOMMSFT
JPMA

IShares SP Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares SP 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 SP'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.15  0.26  0.13  0.63  1.17 
 3.22 
 8.02 
MSFT  0.88  0.07  0.01  0.23  1.35 
 2.09 
 8.19 
UBER  1.78 (0.22) 0.00 (0.07) 0.00 
 2.69 
 20.41 
F  1.43 (0.15)(0.04) 0.01  2.22 
 2.53 
 11.21 
T  0.98  0.15  0.03  3.35  1.06 
 2.36 
 6.74 
A  1.22  0.01 (0.04) 0.14  1.48 
 2.71 
 9.02 
CRM  1.46  0.39  0.28  0.39  1.01 
 3.59 
 13.87 
JPM  1.08 (0.02) 0.05  0.10  1.30 
 1.73 
 15.87 
MRK  0.92 (0.22) 0.00 (0.77) 0.00 
 2.00 
 4.89 
XOM  0.96 (0.05) 0.00 (0.07) 0.00 
 1.83 
 6.06 

Be your own money manager

Our tools can tell you how much better you can do entering a position in IShares SP without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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