IShares ESG Correlations
| XESG Etf | CAD 31.08 0.06 0.19% |
The current 90-days correlation between iShares ESG Aware and iShares ESG MSCI is 0.64 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares ESG moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares ESG Aware moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
IShares ESG Correlation With Market
Modest diversification
The correlation between iShares ESG Aware and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares ESG Aware and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to IShares ESG 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 ESG 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 ESG - 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 ESG Aware to buy it.
Moving together with IShares Etf
| 1.0 | XIU | iShares SPTSX 60 | PairCorr |
| 1.0 | XIC | iShares Core SPTSX | PairCorr |
| 1.0 | ZCN | BMO SPTSX Capped | PairCorr |
| 1.0 | VCN | Vanguard FTSE Canada | PairCorr |
| 1.0 | HXT | Global X SPTSX | PairCorr |
| 0.77 | QCN | Mackenzie Canadian Equity | PairCorr |
| 0.79 | WXM | First Asset Morningstar | PairCorr |
| 0.71 | TTP | TD Canadian Equity | PairCorr |
| 1.0 | VCE | Vanguard FTSE Canada | PairCorr |
| 0.81 | FHE | First Trust Indxx | PairCorr |
| 0.9 | HBLK | Blockchain Technologies | PairCorr |
Moving against IShares Etf
| 0.99 | HXD | BetaPro SPTSX 60 | PairCorr |
| 0.94 | HIU | BetaPro SP 500 | PairCorr |
| 0.92 | HQD | BetaPro NASDAQ 100 | PairCorr |
| 0.59 | HED | BetaPro SPTSX Capped | PairCorr |
| 0.39 | HUN | Global X Natural | PairCorr |
Related Correlations Analysis
| -0.45 | 0.1 | -0.34 | 0.31 | XSUS | ||
| -0.45 | 0.65 | 0.15 | -0.42 | XSAB | ||
| 0.1 | 0.65 | 0.27 | 0.2 | XSTB | ||
| -0.34 | 0.15 | 0.27 | 0.52 | XSEA | ||
| 0.31 | -0.42 | 0.2 | 0.52 | XSEM | ||
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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
| High negative correlations
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IShares ESG Constituents Risk-Adjusted Indicators
There is a big difference between IShares Etf performing well and IShares ESG 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 ESG'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| XSUS | 0.57 | 0.11 | 0.06 | 0.33 | 0.55 | 1.22 | 4.47 | |||
| XSAB | 0.25 | 0.01 | (0.31) | (0.31) | 0.27 | 0.60 | 1.33 | |||
| XSTB | 0.10 | 0.01 | (0.78) | 1.26 | 0.00 | 0.25 | 0.62 | |||
| XSEA | 0.57 | (0.06) | 0.00 | (0.46) | 0.00 | 1.08 | 4.05 | |||
| XSEM | 0.78 | 0.07 | (0.05) | (0.60) | 1.01 | 1.90 | 5.47 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in IShares ESG 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.Did you try this?
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