IShares Expanded Correlations

The current 90-days correlation between iShares Expanded Tech and iShares SP Mid Cap is 0.55 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Expanded moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Expanded Tech moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Expanded Correlation With Market

Significant diversification

The correlation between iShares Expanded Tech and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Expanded Tech and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IShares Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with IShares Etf

0.96	VGT	Vanguard Information	Pair Corr
0.97	XLK	Technology Select Sector Aggressive Push	Pair Corr
0.69	IYW	iShares Technology ETF	Pair Corr
0.95	SOXX	iShares Semiconductor ETF	Pair Corr
0.67	FTEC	Fidelity MSCI Information	Pair Corr
0.95	VTI	Vanguard Total Stock	Pair Corr
0.71	INTC	Intel	Pair Corr
0.65	AA	Alcoa Corp	Pair Corr
0.63	CAT	Caterpillar	Pair Corr

Moving against IShares Etf

0.72	T	ATT Inc	Pair Corr
0.59	VZ	Verizon Communications	Pair Corr
0.56	NFLX	Netflix	Pair Corr

Related Correlations Analysis

	IGF	MCHI	IJJ	ARKK	EWY	DBEF	JGRO	IOO	SCHH	VDC
IGF		-0.23	0.22	0.03	0.6	0.61	0.0	0.7	0.24	-0.05	IGF
MCHI	-0.23		0.26	0.61	-0.28	-0.32	0.0	-0.26	0.33	0.06	MCHI
IJJ	0.22	0.26		0.25	-0.18	-0.07	0.0	0.05	0.55	0.59	IJJ
ARKK	0.03	0.61	0.25		-0.01	-0.05	0.0	-0.06	0.25	0.07	ARKK
EWY	0.6	-0.28	-0.18	-0.01		0.81	0.0	0.92	-0.19	-0.58	EWY
DBEF	0.61	-0.32	-0.07	-0.05	0.81		0.0	0.81	-0.2	-0.36	DBEF
JGRO	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	JGRO
IOO	0.7	-0.26	0.05	-0.06	0.92	0.81	0.0		-0.2	-0.53	IOO
SCHH	0.24	0.33	0.55	0.25	-0.19	-0.2	0.0	-0.2		0.64	SCHH
VDC	-0.05	0.06	0.59	0.07	-0.58	-0.36	0.0	-0.53	0.64		VDC
	IGF	MCHI	IJJ	ARKK	EWY	DBEF	JGRO	IOO	SCHH	VDC

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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

IOO	+ 0.92	EWY
DBEF	+ 0.81	EWY
IOO	+ 0.81	DBEF
IOO	+ 0.7	IGF
VDC	+ 0.64	SCHH
DBEF	+ 0.61	IGF

High negative correlations

VDC	- 0.58	EWY
VDC	- 0.53	IOO
VDC	- 0.36	DBEF
DBEF	- 0.32	MCHI
EWY	- 0.28	MCHI
IOO	- 0.26	MCHI

IShares Expanded Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Expanded 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 Expanded'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
IGF	0.45	0.04	(0.06)	11.50	0.47	(0.46)	0.79	(0.78)	2.02
MCHI	0.95	(0.02)	0.00	(0.38)	0.00	0.00	1.71	(1.60)	8.40
IJJ	0.72	0.02	(0.05)	(0.16)	0.96	(0.71)	1.62	(1.31)	4.52
ARKK	1.98	0.11	0.02	0.66	2.39	(2.21)	3.84	(4.79)	9.69
EWY	1.50	0.36	0.17	1.64	1.55	(1.68)	3.18	(2.24)	8.88
DBEF	0.47	0.03	0.02	0.11	0.55	(0.51)	0.94	(1.15)	3.21
JGRO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IOO	0.59	0.12	0.06	1.52	0.73	(0.61)	1.55	(1.24)	3.71
SCHH	0.57	(0.01)	0.00	0.16	0.00	0.00	1.39	(1.08)	3.85
VDC	0.54	(0.06)	0.00	(15.70)	0.00	0.00	1.18	(0.99)	3.67

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