iShares Currency Hedged ETF Volatility

HSCZ ETF

USD 42.65 0.37 0.88%

IShares Currency's volatility, beta, and downside-risk metrics are presented in one read. The ETF has a long-term beta of 0.6, meaning it tends to be less volatile than the market as a whole. The ETF shows very low price volatility over the last 3 months.

Sharpe Ratio = 0.0441

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HSCZ

Worst

← Lower RiskHigher Risk →

iShares Currency Hedged's financial profile includes a Market Risk Adjusted Performance of 0.1%, a Risk of 0.99, and a Risk Adjusted Performance of 0.1%. Monthly performance data shows the ETF operating at about 3% of its measured historical range.

Key indicators related to IShares Currency's volatility include:

90 Days Market Risk

Very Low

Chance Of Distress

Low

90 Days Economic Sensitivity

Follows the market closely

Key risk metrics for IShares Currency (3 Months):

Beta

0.83

Alpha

0.06

Risk

0.99

Sharpe Ratio

0.04

Expected Return

0.04

Assets With Similar Volatility

0.98	SCZ	iShares MSCI EAFE	Pair Corr
0.97	VSS	Vanguard FTSE All World	Pair Corr
0.96	GWX	SPDR SAMPP International	Pair Corr
0.97	ISCF	iShares MSCI Intl	Pair Corr
0.97	DFIS	Dimensional ETF Trust	Pair Corr
0.79	DHF	BNY Mellon High	Pair Corr
0.72	MAGS	Roundhill Magnificent Seven	Pair Corr
0.85	ARP	Advisors Inner Circle	Pair Corr
0.84	PXMV	Invesco SAMPP MidCap	Pair Corr
0.81	IGA	Voya Global Advantage	Pair Corr
0.88	KNRG	Simplify Kayne Anderson	Pair Corr
0.68	XQQI	NEOS Boosted Nasdaq 100	Pair Corr
0.61	HUTG	Leverage Shares 2X Trending	Pair Corr
0.8	XDIV	Roundhill SAMPP 500	Pair Corr
0.83	EDGU	3EDGE Dynamic Equity	Pair Corr
0.79	FEBU	AllianzIM Equity Buffer15	Pair Corr
0.86	BUYO	KraneShares Man Buyout	Pair Corr
0.64	QQQ	Invesco QQQ Trust Aggressive Push	Pair Corr
0.81	IWV	iShares Russell 3000	Pair Corr
0.67	SMRI	Bushido Capital Equity	Pair Corr
0.68	XBI	SPDR SAMPP Biotech	Pair Corr
0.78	AUGW	AllianzIM Equity Buffer20	Pair Corr
0.83	IQSZ	Invesco Global Equity	Pair Corr
0.69	EMES	Harbor Emerging Markets	Pair Corr

Lower Correlation Assets

0.52

IXC

iShares Global Energy

Pair Corr

Sensitivity To Market

iShares Currency Hedged exhibits a beta of 0.83, representing its market-relative sensitivity. This coefficient separates systematic risk from company-specific volatility. Total return dispersion is approximately 0.99%. iShares Currency Hedged return patterns over the selected horizon reflect a very low level of variability, based on dispersion and downside-focused statistics. Standard deviation is near 1.01%. ETF volatility often reflects both the underlying basket and the trading layer. Premium/discount to NAV is often expressed as (Price − NAV) / NAV × 100 when NAV is available. Spread stability also shapes short-term movement.

Current 90-day IShares Currency correlation with market (Dow Jones Industrial)

0.06

0.83

Competition

3 Months Beta |iShares Currency Hedged Demand Trend

Current 90-day IShares Currency correlation with market (Dow Jones Industrial)

Downside Risk

For IShares Currency, the standard deviation figure expresses the observed spread of daily returns over the selected period. The magnitude of IShares Currency standard deviation determines where it falls on the volatility spectrum relative to peers. Pairing standard deviation with beta separates IShares Currency total risk from its market-driven component. Combining IShares Currency standard deviation with skewness and kurtosis gives a more complete picture of return distribution shape.

Standard Deviation

0.99

Distinguishing between standard deviation and downside deviation sharpens the risk picture for IShares Currency. Standard deviation reflects total return dispersion for IShares Currency, while downside deviation captures only the adverse portion of IShares Currency's returns. Standard deviation and downside deviation for IShares Currency measure different things - total dispersion vs. loss-only dispersion. Semi-deviation and downside deviation focus on the loss risk embedded in IShares Currency's returns. iShares Currency Hedged's financial profile includes a Downside Deviation of 0.94, a Downside Variance of 0.88, and a Maximum Drawdown of 4.64.

ETF Volatility Analysis

For IShares Currency, understanding volatility is essential to assessing portfolio risk contribution. It indicates how dramatically IShares Currency's price swings over a specific time horizon. For IShares Currency, volatility is both a risk factor and a driver of return dispersion. Sharp price movements in IShares Currency's are triggered by earnings surprises, macroeconomic data, or sector trends.

Transformation

This analysis covers sixty-one data points across the selected time horizon. The Average Price transformation calculates the mean of iShares Currency Hedged's open, high, low, and close for each trading period. By incorporating all four price components equally, it provides a balanced representation of each period's trading activity. Compared to using the closing price alone, the average price reduces the influence of end-of-day positioning and can serve as a smoother input for other technical indicators.

Projected Return Density Against Market

Given a 90-day horizon, IShares Currency has a beta of 0.8289. This usually indicates as returns on the market go up, IShares Currency's average returns tend to increase less than the benchmark. However, during a bear market, the loss from holding iShares Currency Hedged tends to be smaller as well.

Holders of IShares Currency face systematic risk from broad ETF market trends and unsystematic risk from company or sector-specific developments. Diversification reduces specific exposure, but macro-driven volatility persists. Beta remains a common sensitivity metric. iShares Currency Hedged's financial profile includes a Downside Deviation of 0.94, a Mean Deviation of 0.76, and a Semi Deviation of 0.86.

IShares Currency Hedged has an alpha of 0.0562, implying that it can generate a 0.0562 percent excess return over Dow Jones Industrial after adjusting for the inherent market risk (beta).

Predicted Return Distribution

Density

IShares Currency's volatility is typically evaluated with standard deviation and beta. Standard deviation reflects how far IShares Currency's returns usually move from the mean over the selected horizon.

What Drives IShares Currency's Price Volatility?

Holdings and Allocation

IShares Currency's volatility can rise when allocation drift or holdings turnover shifts across the Foreign Small/Mid Blend category.

Political and Economic Environment

Changes in fiscal policy, rates, and growth expectations affect market-wide risk premiums and spill into IShares Currency's trading.

IShares Currency's Fund-Specific Factors

Fund flow dynamics, expense-ratio competitiveness, and index reconstitution events can create abrupt price dispersion in IShares Currency.

ETF Risk Measures

Given a 90-day horizon, the coefficient of variation of IShares Currency is 2268.82. The daily returns are distributed with a variance of 0.99 and standard deviation of 0.99. The mean deviation of iShares Currency Hedged is currently at 0.73. For similar time horizon, the selected benchmark (Dow Jones Industrial) has volatility of 0.96

α	Alpha over Dow Jones	0.06	Details
β	Beta against Dow Jones	0.83	Details
σ	Overall volatility	0.99	Details
Ir	Information ratio	0.06	Details

ETF Return Volatility

IShares Currency return volatility captures the typical daily swing in ETF returns relative to the mean over the selected period. The ETF has volatility of 0.9939% on return distribution over a 90-day investment horizon. Meanwhile, Dow Jones Industrial reported 0.9164% volatility on return distribution over a 90-day investment horizon.

Performance

Timeline

Related Correlations Analysis

	SCJ	IDRV	TUR	DFE	PTIN	UAE	IEUS	SDG	DIM	PGJ
SCJ		0.44	0.62	0.87	0.88	0.83	0.84	0.66	0.94	0.66	SCJ
IDRV	0.44		0.87	0.7	0.76	0.25	0.71	0.93	0.63	0.08	IDRV
TUR	0.62	0.87		0.83	0.85	0.55	0.86	0.94	0.8	0.4	TUR
DFE	0.87	0.7	0.83		0.97	0.76	0.98	0.87	0.97	0.6	DFE
PTIN	0.88	0.76	0.85	0.97		0.73	0.95	0.9	0.96	0.56	PTIN
UAE	0.83	0.25	0.55	0.76	0.73		0.81	0.52	0.84	0.86	UAE
IEUS	0.84	0.71	0.86	0.98	0.95	0.81		0.88	0.96	0.66	IEUS
SDG	0.66	0.93	0.94	0.87	0.9	0.52	0.88		0.83	0.37	SDG
DIM	0.94	0.63	0.8	0.97	0.96	0.84	0.96	0.83		0.66	DIM
PGJ	0.66	0.08	0.4	0.6	0.56	0.86	0.66	0.37	0.66		PGJ
	SCJ	IDRV	TUR	DFE	PTIN	UAE	IEUS	SDG	DIM	PGJ

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IShares Currency Constituents Risk-Adjusted Indicators

IShares Currency ETF can look attractive on recent price action while risk efficiency lags the peer group. Reviewing IShares Currency's risk-adjusted indicators gives a clearer view of whether returns are being earned efficiently. These indicators are quantitative in nature and measure volatility and risk-adjusted expected returns across different positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SCJ	1.12	0.09	0.07	0.09	1.22	-1.33	2.52	-2.04	6.63
IDRV	1.36	0.26	0.13	0.17	1.62	-1.45	3.78	-2.98	9.65
TUR	1.18	0.08	0.05	0.08	1.65	-1.06	2.66	-2.31	6.39
DFE	0.97	0.05	0.04	0.04	1.24	-0.92	1.83	-1.62	5.02
PTIN	1.18	0.10	0.07	0.07	1.31	-1.44	2.91	-2.24	6.34
UAE	1.58	-0.11	0.00	-0.08	0.00	0.00	3.54	-3.05	10.65
IEUS	1.11	0.03	0.02	0.02	1.34	-1.11	2.49	-1.98	5.63
SDG	0.85	0.09	0.08	0.10	1.02	-0.90	1.95	-1.94	5.08
DIM	0.85	0.03	0.03	0.03	1.09	-0.86	2.09	-1.86	4.83
PGJ	1.19	-0.08	0.00	-0.07	0.00	0.00	2.74	-2.66	7.13

Risk Metrics, Assumptions & Methodology

Systematic risk exposure for IShares Currency measures how much of the fund's volatility comes from broad market movements versus idiosyncratic factors. A beta above one indicates amplified sensitivity to market swings, increasing both upside and downside exposure.

iShares Currency Hedged figures are aggregated from fund disclosures and market reference feeds and normalized across reporting formats. Volatility and downside metrics are estimated from historical return dispersion.

Editorial review and methodology oversight provided by: Gabriel Shpitalnik, Member of Macroaxis Editorial Board

Volatility Profile Summary

Recent data suggests that iShares Currency Hedged is more volatile than Dow Jones Industrial by approximately 1.08x over the selected horizon. This differential reflects the relative dispersion of returns and frames how the asset responds to broader market conditions. Observed price behavior indicates modest directional movement within the current volatility regime. Across the current 90-day horizon, that places the security below 8% of the broader equity and portfolio universe on a pure volatility basis. This positioning reflects relative dispersion compared to peers rather than extreme instability.

iShares Currency Hedged with characteristics aligned to broad market upside participation. This directional read frames the latest price swing through a simple momentum and follow-through lens. It gains reliability when combined with broader risk controls and volatility-adjusted analysis. a moderate upward price movement. Return distributions derived from historical modeling outline a range of potential outcomes over the selected 90-day horizon. View IShares Currency probability analysis.

Minimal diversification benefit

Across the chosen horizon, IShares Currency and Dow Jones show a correlation of 0.9 and fall into the Minimal diversification benefit bucket. This chart measures the degree of risk overlap between IShares Currency and Dow Jones.

View Details

Additional Risk Indicators

A broader risk-indicator set for iShares Currency Hedged extends the analysis beyond standard volatility and risk measures. Cross-security comparison within similar growth and valuation profiles provides additional context for interpreting relative risk positioning.

	Risk Adjusted Performance	0.0619
	Market Risk Adjusted Performance	0.0757
	Mean Deviation	0.76
	Semi Deviation	0.8575
	Downside Deviation	0.939
	Coefficient Of Variation	1569.3
	Standard Deviation	1.01

IShares Currency Suggested Diversification Pairs

A paired position built around iShares Currency Hedged reduces directional market exposure while expressing a relative-value view. A disciplined pair structure still requires monitoring because correlation weakens when market regimes change.

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While pairing positions reduces portfolio risk, some forms of risk persist no matter which instruments are combined. No matter how well a pair is constructed around IShares Currency, market-wide risk remains. What pair trading can address is IShares Currency's unsystematic risk - the portion driven by company or sector-specific factors rather than broad market forces.

More Resources for IShares Currency ETF Analysis

Investors evaluate iShares Currency Hedged using market price and NAV, each describing a different view of the fund. Analytical frameworks help reconcile these views into a coherent picture.

For IShares Currency, NAV and trading price are complementary but distinct concepts shaped by different forces. Holdings diversification, category fit, and cost efficiency offer additional analytical signals.