IShares Expanded Correlations

IGV Etf

USD 107.28 0.82 0.76%

The current 90-days correlation between iShares Expanded Tech and iShares Technology ETF is 0.77 (i.e., Poor diversification). The correlation of IShares Expanded is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

IShares Expanded Correlation With Market

Very weak diversification

The correlation between iShares Expanded Tech Software and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Expanded Tech Software 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, which includes a position in iShares Expanded Tech Software. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with IShares Etf

0.73	VGT	Vanguard Information	Pair Corr
0.76	XLK	Technology Select Sector	Pair Corr
0.72	IYW	iShares Technology ETF	Pair Corr
0.73	SMH	VanEck Semiconductor ETF	Pair Corr
0.71	SOXX	iShares Semiconductor ETF	Pair Corr
0.73	FTEC	Fidelity MSCI Information	Pair Corr
0.74	FDN	First Trust Dow	Pair Corr
0.71	IGM	iShares Expanded Tech	Pair Corr
0.68	USD	ProShares Ultra Semi	Pair Corr
0.68	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.73	FNGO	MicroSectors FANG Index	Pair Corr
0.67	BITO	ProShares Bitcoin	Pair Corr
0.65	BULZ	MicroSectors Solactive	Pair Corr
0.71	DFEN	Direxion Daily Aerospace	Pair Corr
0.73	FNGG	Direxion Daily Select	Pair Corr
0.76	MSFT	Microsoft	Pair Corr
0.75	JPM	JPMorgan Chase	Pair Corr
0.73	CAT	Caterpillar	Pair Corr
0.62	DIS	Walt Disney	Pair Corr

Moving against IShares Etf

0.68

Procter Gamble

Pair Corr

Related Correlations Analysis

	FXL	FTEC	FTXL	IGV	IXN	IYW	XNTK	PSI	PTF
FXL		0.93	0.92	0.86	0.92	0.92	0.92	0.92	0.89	FXL
FTEC	0.93		0.93	0.73	1.0	1.0	0.97	0.91	0.79	FTEC
FTXL	0.92	0.93		0.73	0.94	0.92	0.97	0.99	0.75	FTXL
IGV	0.86	0.73	0.73		0.74	0.72	0.73	0.7	0.91	IGV
IXN	0.92	1.0	0.94	0.74		1.0	0.97	0.91	0.79	IXN
IYW	0.92	1.0	0.92	0.72	1.0		0.97	0.9	0.78	IYW
XNTK	0.92	0.97	0.97	0.73	0.97	0.97		0.96	0.77	XNTK
PSI	0.92	0.91	0.99	0.7	0.91	0.9	0.96		0.74	PSI
PTF	0.89	0.79	0.75	0.91	0.79	0.78	0.77	0.74		PTF
	FXL	FTEC	FTXL	IGV	IXN	IYW	XNTK	PSI	PTF

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
FXL	0.81	0.01	0.01	0.12	0.81	(0.88)	2.08	(1.48)	4.43
FTEC	0.74	0.11	0.10	0.24	0.71	(0.83)	1.68	(1.54)	4.29
FTXL	1.12	0.15	0.10	0.28	1.13	(1.30)	3.01	(2.31)	6.74
IGV	0.82	(0.03)	(0.04)	0.07	0.99	(0.90)	1.58	(1.98)	4.97
IXN	0.71	0.11	0.09	0.26	0.71	(0.79)	1.46	(1.63)	3.99
IYW	0.68	0.12	0.10	0.27	0.63	(0.74)	1.57	(1.49)	4.13
XNTK	0.77	0.06	0.05	0.18	0.68	(0.90)	2.07	(1.51)	5.20
PSI	1.25	0.15	0.12	0.22	1.26	(1.44)	3.35	(2.68)	8.22
PTF	1.04	(0.02)	(0.01)	0.09	1.26	(1.14)	2.01	(2.16)	6.12

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