IShares Global Correlations

IOO Etf

USD 127.93 0.28 0.22%

The current 90-days correlation between iShares Global 100 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 Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Global 100 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Global Correlation With Market

Poor diversification

The correlation between iShares Global 100 and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Global 100 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 Global 100. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with IShares Etf

0.84	VT	Vanguard Total World	Pair Corr
0.76	ACWI	iShares MSCI ACWI	Pair Corr
0.86	URTH	iShares MSCI World	Pair Corr
0.81	CRBN	iShares MSCI ACWI	Pair Corr
0.79	GLOV	Goldman Sachs ActiveBeta	Pair Corr
0.86	KOKU	Xtrackers MSCI Kokusai	Pair Corr
0.88	SPGM	SPDR Portfolio MSCI	Pair Corr
0.73	KORU	Direxion Daily South	Pair Corr
0.67	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr

Moving against IShares Etf

0.55	BCOR	Grayscale Bitcoin	Pair Corr
0.41	HPQ	HP Inc	Pair Corr
0.38	T	ATT Inc	Pair Corr
0.33	HD	Home Depot	Pair Corr

Related Correlations Analysis

	IJJ	IGF	IJK	IBB	IJS	IJT	IXN	EWY	CGGO	IGM
IJJ		0.64	0.81	0.54	0.97	0.94	0.19	0.44	0.58	0.38	IJJ
IGF	0.64		0.51	0.37	0.58	0.55	0.0	0.22	0.5	0.16	IGF
IJK	0.81	0.51		0.39	0.83	0.8	0.45	0.5	0.64	0.55	IJK
IBB	0.54	0.37	0.39		0.59	0.37	-0.12	0.57	-0.11	0.04	IBB
IJS	0.97	0.58	0.83	0.59		0.93	0.27	0.53	0.54	0.46	IJS
IJT	0.94	0.55	0.8	0.37	0.93		0.32	0.33	0.62	0.53	IJT
IXN	0.19	0.0	0.45	-0.12	0.27	0.32		0.55	0.6	0.89	IXN
EWY	0.44	0.22	0.5	0.57	0.53	0.33	0.55		0.3	0.42	EWY
CGGO	0.58	0.5	0.64	-0.11	0.54	0.62	0.6	0.3		0.77	CGGO
IGM	0.38	0.16	0.55	0.04	0.46	0.53	0.89	0.42	0.77		IGM
	IJJ	IGF	IJK	IBB	IJS	IJT	IXN	EWY	CGGO	IGM

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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

IJS	+ 0.97	IJJ
IJT	+ 0.94	IJJ
IJT	+ 0.93	IJS
IGM	+ 0.89	IXN
IJS	+ 0.83	IJK
IJK	+ 0.81	IJJ

High negative correlations

IXN	- 0.12	IBB
CGGO	- 0.11	IBB
IXN	- 0.0	IGF

IShares Global Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Global 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 Global'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
IJJ	0.75	(0.02)	(0.01)	0.07	0.92	(0.77)	1.85	(1.31)	3.89
IGF	0.46	(0.02)	(0.13)	0.03	0.50	(0.49)	0.90	(0.77)	1.84
IJK	0.83	0.03	(0.03)	0.18	1.03	(0.80)	1.73	(1.72)	4.42
IBB	0.84	0.13	0.13	0.24	0.65	(0.96)	2.00	(1.35)	5.02
IJS	0.93	(0.03)	0.00	0.07	1.09	(0.97)	2.31	(2.13)	4.60
IJT	0.85	(0.06)	(0.04)	0.03	1.05	(0.86)	1.66	(1.53)	4.62
IXN	1.03	(0.04)	(0.02)	0.05	1.60	(0.93)	1.99	(2.76)	5.74
EWY	1.59	0.32	0.18	0.35	1.64	(1.72)	3.58	(2.41)	8.88
CGGO	0.71	(0.02)	(0.02)	0.06	0.98	(0.66)	1.31	(1.68)	3.72
IGM	1.02	(0.08)	(0.04)	0.02	1.66	(0.89)	1.88	(2.73)	6.36

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