IShares Core Correlations

XDGH Etf

CAD 31.39 0.13 0.42%

The current 90-days correlation between iShares Core MSCI and BetaPro NASDAQ 100 2x is 0.18 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Core moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Core MSCI moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Core Correlation With Market

Poor diversification

The correlation between iShares Core MSCI and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Core MSCI and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares Core 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 Core 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 Core - 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 Core MSCI to buy it.

Moving together with IShares Etf

0.82	HAZ	Global X Active	Pair Corr
0.77	ZWG	BMO Global High	Pair Corr
0.99	CYH	iShares Global Monthly	Pair Corr
0.98	XDG	iShares Core MSCI	Pair Corr
0.91	BDIV	Brompton Global Dividend	Pair Corr
0.96	TQGD	TD Q Global	Pair Corr
0.8	FHE	First Trust Indxx	Pair Corr
0.61	ZBK	BMO Equal Weight	Pair Corr
0.63	CALL	Evolve Banks Enhanced	Pair Corr
0.67	CALL-B	Evolve Banks Enhanced	Pair Corr
0.91	HEU	BetaPro SP TSX	Pair Corr
0.93	XEG	iShares SPTSX Capped	Pair Corr
0.86	VCN	Vanguard FTSE Canada	Pair Corr
0.86	XESG	iShares ESG Aware	Pair Corr
0.94	VSB	Vanguard Canadian Short	Pair Corr
0.96	THE	TD International Equity	Pair Corr
0.74	PINV	Purpose Global Innovators	Pair Corr
0.81	WSRD	Wealthsimple Developed	Pair Corr
0.9	FMAE	Fidelity Multi Alt	Pair Corr
0.79	CORE	PIMCO Canadian Core	Pair Corr
0.72	DXAU	Dynamic Active Global	Pair Corr
0.93	PDIV	Purpose Enhanced Dividend	Pair Corr
0.9	CLF	iShares 1 5	Pair Corr
0.84	XMM	iShares MSCI Min	Pair Corr
0.86	COPP	Global X Copper	Pair Corr
0.93	VCB	Vanguard Canadian	Pair Corr
0.91	XSMH	iShares SP Small	Pair Corr
0.87	XBAL	iShares Core Balanced	Pair Corr
0.97	EIT-UN	Canoe EIT Income	Pair Corr
0.93	HXE	Global X SPTSX	Pair Corr
0.88	XDIV	iShares Core MSCI	Pair Corr

Moving against IShares Etf

0.81	CBCX	CI Galaxy Blockchain	Pair Corr
0.75	HBLK	Blockchain Technologies	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.09	-0.11	-0.05	0.14	-0.2	-0.05	0.11	-0.01	0.15	META
MSFT	-0.09		0.84	-0.59	-0.87	0.84	0.94	0.44	-0.92	-0.95	MSFT
UBER	-0.11	0.84		-0.54	-0.77	0.87	0.77	0.27	-0.82	-0.83	UBER
F	-0.05	-0.59	-0.54		0.35	-0.46	-0.5	-0.19	0.64	0.59	F
T	0.14	-0.87	-0.77	0.35		-0.76	-0.85	-0.37	0.79	0.8	T
A	-0.2	0.84	0.87	-0.46	-0.76		0.75	0.44	-0.77	-0.86	A
CRM	-0.05	0.94	0.77	-0.5	-0.85	0.75		0.58	-0.86	-0.93	CRM
JPM	0.11	0.44	0.27	-0.19	-0.37	0.44	0.58		-0.29	-0.47	JPM
MRK	-0.01	-0.92	-0.82	0.64	0.79	-0.77	-0.86	-0.29		0.93	MRK
XOM	0.15	-0.95	-0.83	0.59	0.8	-0.86	-0.93	-0.47	0.93		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

CRM	+ 0.94	MSFT
XOM	+ 0.93	MRK
A	+ 0.87	UBER
UBER	+ 0.84	MSFT
A	+ 0.84	MSFT
XOM	+ 0.8	T

High negative correlations

XOM	- 0.95	MSFT
XOM	- 0.93	CRM
MRK	- 0.92	MSFT
T	- 0.87	MSFT
MRK	- 0.86	CRM
XOM	- 0.86	A

IShares Core Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Core 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 Core'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	1.47	0.07	0.03	0.12	1.58	(1.57)	2.38	(2.81)	13.69
MSFT	1.33	(0.28)	0.00	(0.60)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.55	(0.17)	0.00	(0.34)	0.00	0.00	2.70	(3.82)	11.09
F	1.31	(0.03)	0.00	1.61	0.00	0.00	3.61	(2.59)	9.82
T	1.07	0.20	0.14	(0.72)	0.94	(1.26)	3.87	(1.76)	7.44
A	1.22	(0.40)	0.00	(0.38)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.78	(0.27)	0.00	(0.21)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.25	(0.09)	0.00	(0.02)	0.00	0.00	2.34	(3.11)	8.17
MRK	1.20	0.21	0.13	0.55	1.27	(1.26)	2.54	(2.06)	7.10
XOM	1.34	0.41	0.26	3.02	1.14	(1.59)	2.90	(2.44)	6.83

Be your own money manager

Our tools can tell you how much better you can do entering a position in IShares Core 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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