IShares Core Correlations

XUU Etf

CAD 68.30 0.15 0.22%

The current 90-days correlation between iShares Core SP and BMO SP 500 is 0.9 (i.e., Almost no 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 SP moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Core Correlation With Market

Weak diversification

The correlation between iShares Core SP and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Core SP 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 SP to buy it.

Moving together with IShares Etf

0.7	XSP	iShares Core SP	Pair Corr
0.99	ZSP	BMO SP 500	Pair Corr
0.99	VFV	Vanguard SP 500	Pair Corr
0.99	HXS	Global X SP	Pair Corr
0.99	XUS	iShares Core SP	Pair Corr
0.93	ESGY	BMO MSCI USA	Pair Corr
0.71	ZUE	BMO SP 500	Pair Corr
0.69	VSP	Vanguard SP 500	Pair Corr
0.75	ZQQ	BMO NASDAQ 100	Pair Corr
0.75	XQQ	iShares NASDAQ 100	Pair Corr
0.65	HBLK	Blockchain Technologies	Pair Corr
0.73	ZUH	BMO Equal Weight	Pair Corr

Moving against IShares Etf

0.55	HQD	BetaPro NASDAQ 100	Pair Corr
0.51	HIU	BetaPro SP 500	Pair Corr
0.4	HXD	BetaPro SPTSX 60	Pair Corr
0.46	SHPD	SavvyShort Shopify ETF	Pair Corr
0.32	ZEO	BMO Equal Weight	Pair Corr

Related Correlations Analysis

	TPU	VBAL	XQQ	TTP	XGRO	HXT	QUU	TPE	XAW	ZUE
TPU		0.48	0.76	0.31	0.46	0.37	0.99	0.18	0.56	0.65	TPU
VBAL	0.48		0.37	0.93	0.99	0.92	0.49	0.93	0.98	0.79	VBAL
XQQ	0.76	0.37		0.38	0.39	0.4	0.77	0.13	0.41	0.8	XQQ
TTP	0.31	0.93	0.38		0.95	0.99	0.32	0.89	0.87	0.8	TTP
XGRO	0.46	0.99	0.39	0.95		0.94	0.48	0.94	0.98	0.81	XGRO
HXT	0.37	0.92	0.4	0.99	0.94		0.38	0.86	0.86	0.82	HXT
QUU	0.99	0.49	0.77	0.32	0.48	0.38		0.2	0.57	0.66	QUU
TPE	0.18	0.93	0.13	0.89	0.94	0.86	0.2		0.91	0.66	TPE
XAW	0.56	0.98	0.41	0.87	0.98	0.86	0.57	0.91		0.8	XAW
ZUE	0.65	0.79	0.8	0.8	0.81	0.82	0.66	0.66	0.8		ZUE
	TPU	VBAL	XQQ	TTP	XGRO	HXT	QUU	TPE	XAW	ZUE

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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
TPU	0.58	(0.07)	0.00	(0.09)	0.00	0.00	1.04	(1.25)	3.64
VBAL	0.35	0.01	(0.04)	0.07	0.43	(0.36)	0.68	(0.71)	2.07
XQQ	0.77	(0.09)	0.00	(0.09)	0.00	0.00	1.38	(1.90)	4.76
TTP	0.65	0.08	0.05	0.23	0.97	(0.68)	1.41	(1.71)	4.72
XGRO	0.43	0.01	(0.02)	0.08	0.52	(0.43)	0.89	(0.97)	2.47
HXT	0.58	0.06	0.04	0.20	0.80	(0.59)	1.07	(1.41)	3.94
QUU	0.59	(0.07)	0.00	(0.08)	0.00	0.00	1.11	(1.49)	3.35
TPE	0.56	0.08	0.07	0.20	0.65	(0.57)	1.28	(1.18)	3.10
XAW	0.51	(0.01)	(0.04)	0.03	0.68	(0.54)	1.09	(1.31)	3.29
ZUE	0.54	(0.04)	0.00	(0.02)	0.00	0.00	0.98	(1.54)	3.51

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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