IShares Core Correlations

XEC Etf

CAD 39.73 0.19 0.48%

The current 90-days correlation between iShares Core MSCI and iShares Core MSCI is 0.77 (i.e., Poor 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 0.78 (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

0.97	VEE	Vanguard FTSE Emerging	Pair Corr
1.0	ZEM	BMO MSCI Emerging	Pair Corr
1.0	XEM	iShares MSCI Emerging	Pair Corr
0.98	ZLE	BMO Low Volatility	Pair Corr
1.0	HXEM	Global X Emerging	Pair Corr
0.93	XMM	iShares MSCI Min	Pair Corr
0.86	HBGD	Global X Big	Pair Corr
0.65	ZUB	BMO Equal Weight	Pair Corr
0.65	ZBK	BMO Equal Weight	Pair Corr
0.65	CALL	Evolve Banks Enhanced	Pair Corr
0.67	ZWK	BMO Covered Call	Pair Corr
0.67	CALL-B	Evolve Banks Enhanced	Pair Corr
0.64	FLUS	Franklin Large Cap	Pair Corr
0.62	HAZ	Global X Active	Pair Corr
0.8	XEG	iShares SPTSX Capped	Pair Corr
0.76	DXAU	Dynamic Active Global	Pair Corr
0.75	XDUH	iShares Core MSCI	Pair Corr
0.84	GCTB	Guardian Ultra Short	Pair Corr
0.65	ZWU	BMO Covered Call	Pair Corr
0.91	GDV	Global Dividend Growth	Pair Corr
0.85	CTMB	CI Target 2029	Pair Corr
0.78	ATSX	Accelerate Canadian Long	Pair Corr
0.75	NHYB	NBI High Yield	Pair Corr
0.88	WSHR	Wealthsimple Shariah	Pair Corr
0.72	HXU	BetaPro SP TSX	Pair Corr
0.79	XEN	iShares Jantzi Social	Pair Corr
0.87	MINT-B	Manulife Multifactor	Pair Corr
0.64	CPD	iShares SPTSX Canadian	Pair Corr
0.78	DXN	Dynamic Active Global	Pair Corr
0.85	CGXF	CI Gold Giants	Pair Corr
0.87	ZCON	BMO Conservative ETF	Pair Corr
0.88	UDIV	Manulife Smart Dividend	Pair Corr

Related Correlations Analysis

	VEE	XDIV	XGD	NUBF	XSB	VXC	TPE	VCE	QCN	XAW
VEE		0.45	0.79	0.73	0.8	0.88	0.9	0.68	0.72	0.89	VEE
XDIV	0.45		0.75	0.44	0.56	0.59	0.75	0.81	0.82	0.6	XDIV
XGD	0.79	0.75		0.55	0.68	0.81	0.89	0.92	0.95	0.82	XGD
NUBF	0.73	0.44	0.55		0.82	0.64	0.72	0.45	0.5	0.65	NUBF
XSB	0.8	0.56	0.68	0.82		0.67	0.81	0.54	0.6	0.69	XSB
VXC	0.88	0.59	0.81	0.64	0.67		0.9	0.84	0.84	1.0	VXC
TPE	0.9	0.75	0.89	0.72	0.81	0.9		0.85	0.88	0.91	TPE
VCE	0.68	0.81	0.92	0.45	0.54	0.84	0.85		0.99	0.84	VCE
QCN	0.72	0.82	0.95	0.5	0.6	0.84	0.88	0.99		0.85	QCN
XAW	0.89	0.6	0.82	0.65	0.69	1.0	0.91	0.84	0.85		XAW
	VEE	XDIV	XGD	NUBF	XSB	VXC	TPE	VCE	QCN	XAW

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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
VEE	0.54	0.02	(0.03)	0.11	0.56	(0.58)	1.11	(1.02)	3.80
XDIV	0.35	0.08	0.05	0.67	0.43	(0.39)	0.81	(0.65)	3.16
XGD	2.06	0.40	0.12	0.37	3.01	(2.11)	4.66	(4.78)	17.04
NUBF	0.27	0.01	(0.13)	0.31	0.31	(0.31)	0.80	(0.56)	1.87
XSB	0.07	0.00	(0.45)	(0.03)	0.06	(0.07)	0.15	(0.11)	0.63
VXC	0.51	(0.02)	(0.06)	0.02	0.69	(0.49)	1.09	(1.09)	3.39
TPE	0.56	0.08	0.05	0.21	0.65	(0.57)	1.28	(1.18)	3.10
VCE	0.63	0.08	0.05	0.26	0.84	(0.68)	1.26	(1.34)	4.26
QCN	0.65	0.10	0.06	0.26	0.93	(0.66)	1.47	(1.81)	4.64
XAW	0.51	(0.01)	(0.06)	0.03	0.68	(0.54)	1.09	(1.31)	3.29

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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