IShares Core Correlations

XEF Etf

CAD 49.95 0.04 0.08%

The current 90-days correlation between iShares Core MSCI and BMO SPTSX Capped is 0.57 (i.e., Very weak 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

Almost no diversification

The correlation between iShares Core MSCI and DJI is 0.9 (i.e., Almost no 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

1.0	ZEA	BMO MSCI EAFE	Pair Corr
1.0	VIU	Vanguard FTSE Developed	Pair Corr
0.98	XIN	iShares MSCI EAFE	Pair Corr
0.99	XFH	iShares Core MSCI	Pair Corr
0.99	ZDM	BMO MSCI EAFE	Pair Corr
0.92	WSRD	Wealthsimple Developed	Pair Corr
0.75	ZLI	BMO Low Volatility	Pair Corr
1.0	VDU	Vanguard FTSE Developed	Pair Corr
0.99	VEF	Vanguard FTSE Developed	Pair Corr
0.79	FTN	Financial 15 Split Split	Pair Corr
0.83	DRFG	Desjardins RI Global	Pair Corr
0.93	HAC	Global X Seasonal	Pair Corr
1.0	QDX	Mackenzie International	Pair Corr
0.85	QCE	Mackenzie Canadian Large	Pair Corr
0.88	QCN	Mackenzie Canadian Equity	Pair Corr
0.86	ATSX	Accelerate Canadian Long	Pair Corr
0.77	DXN	Dynamic Active Global	Pair Corr
0.7	BANK	Evolve Canadian Banks	Pair Corr
0.74	XCNS	iShares Core Conservative	Pair Corr
0.91	DXBG	Dynamic Global Fixed	Pair Corr
0.98	XEU	iShares MSCI Europe	Pair Corr
0.95	BMAX	Brompton Enhanced Multi	Pair Corr
0.83	PFAE	Picton Mahoney Fortified	Pair Corr
0.84	NHYB	NBI High Yield	Pair Corr
0.81	XSB	iShares Canadian Short	Pair Corr
0.86	ZMID	BMO SP Mid	Pair Corr
0.95	EIT-UN	Canoe EIT Income	Pair Corr
0.67	FLUS	Franklin Large Cap	Pair Corr
0.71	TCLV	TD Q Canadian	Pair Corr
0.91	GCTB	Guardian Ultra Short	Pair Corr
0.89	DGRC	CI Canada Quality	Pair Corr
0.82	CTMB	CI Target 2029	Pair Corr
0.81	HXU	BetaPro SP TSX	Pair Corr

Related Correlations Analysis

	VUN	XIU	XSP	XFH	VCN	XEQT	XIC	XUS	VIU	ZCN
VUN		0.51	0.72	0.36	0.48	0.63	0.47	0.99	0.32	0.47	VUN
XIU	0.51		0.82	0.89	0.99	0.94	0.99	0.4	0.84	0.99	XIU
XSP	0.72	0.82		0.71	0.81	0.84	0.8	0.66	0.66	0.8	XSP
XFH	0.36	0.89	0.71		0.91	0.94	0.91	0.25	0.99	0.91	XFH
VCN	0.48	0.99	0.81	0.91		0.95	1.0	0.36	0.87	1.0	VCN
XEQT	0.63	0.94	0.84	0.94	0.95		0.95	0.53	0.92	0.95	XEQT
XIC	0.47	0.99	0.8	0.91	1.0	0.95		0.34	0.88	1.0	XIC
XUS	0.99	0.4	0.66	0.25	0.36	0.53	0.34		0.21	0.34	XUS
VIU	0.32	0.84	0.66	0.99	0.87	0.92	0.88	0.21		0.88	VIU
ZCN	0.47	0.99	0.8	0.91	1.0	0.95	1.0	0.34	0.88		ZCN
	VUN	XIU	XSP	XFH	VCN	XEQT	XIC	XUS	VIU	ZCN

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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
VUN	0.58	(0.07)	0.00	(0.08)	0.00	0.00	1.08	(1.24)	3.42
XIU	0.59	0.08	0.04	0.25	0.78	(0.61)	1.20	(1.42)	4.02
XSP	0.54	(0.05)	0.00	(0.03)	0.00	0.00	0.95	(1.52)	3.50
XFH	0.50	0.08	0.07	0.26	0.50	(0.56)	1.13	(1.00)	2.53
VCN	0.66	0.09	0.06	0.26	0.94	(0.67)	1.40	(1.57)	4.61
XEQT	0.54	0.02	(0.02)	0.10	0.63	(0.55)	1.00	(1.21)	3.12
XIC	0.66	0.10	0.06	0.28	0.94	(0.68)	1.40	(1.66)	4.62
XUS	0.55	(0.08)	0.00	(0.10)	0.00	0.00	1.03	(1.25)	3.45
VIU	0.52	0.12	0.10	0.33	0.49	(0.53)	1.35	(1.11)	2.66
ZCN	0.67	0.10	0.06	0.27	0.95	(0.68)	1.44	(1.65)	4.68

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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