IShares SP Correlations

IJJ Etf

USD 130.69 3.93 3.10%

The current 90-days correlation between iShares SP Mid and iShares SP Mid Cap is -0.24 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares SP moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares SP Mid Cap moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares SP Correlation With Market

Poor diversification

The correlation between iShares SP Mid Cap and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares SP Mid Cap 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 SP Mid Cap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with IShares Etf

0.97	VBR	Vanguard Small Cap	Pair Corr
0.73	IWN	iShares Russell 2000	Pair Corr
0.75	DFAT	Dimensional Targeted	Pair Corr
0.72	IJS	iShares SP Small	Pair Corr
0.96	SLYV	SPDR SP 600	Pair Corr
0.98	AVUV	Avantis Small Cap	Pair Corr
0.79	DES	WisdomTree SmallCap	Pair Corr
1.0	MDYV	SPDR SP 400	Pair Corr
0.95	CALF	Pacer Small Cap Low Volatility	Pair Corr
0.68	BTCL	T Rex 2X	Pair Corr
0.75	TARK	AXS 2X Innovation	Pair Corr
0.63	MMM	3M Company	Pair Corr
0.67	AA	Alcoa Corp	Pair Corr
0.63	DD	Dupont De Nemours	Pair Corr

Moving against IShares Etf

0.43

WTID

UBS ETRACS

Pair Corr

Related Correlations Analysis

	IJK	IJS	IJT	IVE	IVW
IJK		0.92	0.67	0.78	0.94	IJK
IJS	0.92		0.72	0.73	0.87	IJS
IJT	0.67	0.72		0.52	0.63	IJT
IVE	0.78	0.73	0.52		0.81	IVE
IVW	0.94	0.87	0.63	0.81		IVW
	IJK	IJS	IJT	IVE	IVW

IShares SP Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares SP 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 SP'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
IJK	0.68	0.12	(0.04)	(0.21)	0.69	(0.81)	1.30	(1.39)	3.79
IJS	0.99	0.23	0.07	(0.49)	0.85	(1.17)	2.41	(1.77)	4.89
IJT	0.78	0.03	0.05	0.13	0.78	(0.85)	1.73	(1.65)	4.54
IVE	0.46	0.04	0.01	0.18	0.35	(0.51)	0.96	(0.95)	2.25
IVW	0.58	0.09	0.07	0.24	0.47	(0.66)	1.25	(1.03)	3.39

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