IShares Expanded Correlations

IGV Etf

USD 108.07 0.88 0.81%

The current 90-days correlation between iShares Expanded Tech and iShares MSCI Eurozone is 0.53 (i.e., Very weak 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

Poor diversification

The correlation between iShares Expanded Tech Software and DJI is 0.61 (i.e., Poor 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 census.

Moving together with IShares Etf

0.91	CIBR	First Trust NASDAQ	Pair Corr
0.96	FDN	First Trust Dow	Pair Corr
0.77	PTIR	GraniteShares 2x Long	Pair Corr
0.76	PLTU	Direxion Daily PLTR	Pair Corr
0.88	HPQ	HP Inc	Pair Corr
0.82	BA	Boeing	Pair Corr
0.87	HD	Home Depot	Pair Corr

Moving against IShares Etf

0.54	AGQ	ProShares Ultra Silver Buyout Trend	Pair Corr
0.52	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.5	MUU	Direxion Daily MU Trending	Pair Corr
0.49	MULL	GraniteShares 2x Long Trending	Pair Corr
0.32	NUGT	Direxion Daily Gold	Pair Corr
0.81	KO	Coca Cola	Pair Corr
0.81	JNJ	Johnson Johnson	Pair Corr
0.77	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.76	TRV	The Travelers Companies	Pair Corr
0.64	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.5	MCD	McDonalds	Pair Corr
0.49	AA	Alcoa Corp Sell-off Trend	Pair Corr
0.46	WMT	Walmart Common Stock	Pair Corr
0.46	IBM	International Business	Pair Corr
0.39	BAC	Bank of America	Pair Corr

Related Correlations Analysis

	ESGD	EFG	VONE	AVUS	QLD	MGV	DUHP	SCZ	INDA	EZU
ESGD		0.7	0.86	0.86	0.65	0.84	0.84	0.83	0.13	0.97	ESGD
EFG	0.7		0.55	0.41	0.63	0.3	0.81	0.65	0.07	0.61	EFG
VONE	0.86	0.55		0.96	0.88	0.76	0.85	0.71	0.2	0.79	VONE
AVUS	0.86	0.41	0.96		0.74	0.88	0.78	0.77	0.08	0.84	AVUS
QLD	0.65	0.63	0.88	0.74		0.39	0.76	0.46	0.29	0.53	QLD
MGV	0.84	0.3	0.76	0.88	0.39		0.66	0.78	0.03	0.88	MGV
DUHP	0.84	0.81	0.85	0.78	0.76	0.66		0.85	0.01	0.79	DUHP
SCZ	0.83	0.65	0.71	0.77	0.46	0.78	0.85		-0.19	0.84	SCZ
INDA	0.13	0.07	0.2	0.08	0.29	0.03	0.01	-0.19		0.02	INDA
EZU	0.97	0.61	0.79	0.84	0.53	0.88	0.79	0.84	0.02		EZU
	ESGD	EFG	VONE	AVUS	QLD	MGV	DUHP	SCZ	INDA	EZU

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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

EZU	+ 0.97	ESGD
AVUS	+ 0.96	VONE
QLD	+ 0.88	VONE
MGV	+ 0.88	AVUS
EZU	+ 0.88	MGV
VONE	+ 0.86	ESGD

High negative correlations

INDA

- 0.19

SCZ

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
ESGD	0.58	0.01	0.00	0.07	0.72	(0.57)	1.10	(1.29)	2.70
EFG	0.67	(0.04)	(0.04)	0.02	0.97	(0.60)	1.04	(1.45)	3.25
VONE	0.59	(0.02)	(0.02)	0.04	0.91	(0.53)	1.17	(1.22)	3.27
AVUS	0.60	0.00	0.00	0.05	0.92	(0.56)	1.29	(1.25)	3.51
QLD	1.67	(0.04)	0.01	0.04	2.48	(1.58)	3.58	(4.10)	9.29
MGV	0.47	0.01	(0.01)	0.07	0.47	(0.53)	0.99	(0.96)	2.32
DUHP	0.52	(0.02)	(0.04)	0.03	0.71	(0.49)	1.08	(1.13)	3.04
SCZ	0.56	(0.01)	(0.03)	0.04	0.72	(0.54)	1.09	(1.11)	3.02
INDA	0.53	(0.01)	(0.09)	(0.01)	0.65	(0.52)	1.09	(0.93)	3.51
EZU	0.63	0.03	0.03	0.10	0.66	(0.70)	1.16	(1.24)	2.77

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