IShares SP Correlations

XSMH Etf

CAD 29.00 0.30 1.05%

The current 90-days correlation between iShares SP Small and iShares SP Small Cap is 0.98 (i.e., Almost no 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 Small Cap moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares SP Correlation With Market

Significant diversification

The correlation between iShares SP Small Cap and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares SP Small Cap and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares SP could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IShares SP when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back IShares SP - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling iShares SP Small Cap to buy it.

Moving together with IShares Etf

0.88	XSU	iShares Small Cap	Pair Corr
0.94	XMC	iShares SP Mid	Pair Corr
0.95	XMH	iShares SP Mid	Pair Corr
0.82	MUMC	Manulife Multifactor Mid	Pair Corr
0.63	DXZ	Dynamic Active Mid	Pair Corr
0.69	BNC	Purpose Canadian Fin	Pair Corr
0.64	ZGQ	BMO MSCI All	Pair Corr
0.62	XMU	iShares MSCI Min	Pair Corr
0.69	XHU	iShares High Dividend	Pair Corr
0.76	ZDJ	BMO Dow Jones	Pair Corr

Moving against IShares Etf

0.47

HQD

BetaPro NASDAQ 100

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.1	-0.04	-0.64	0.75	-0.69	-0.28	-0.44	-0.41	-0.41	META
MSFT	0.1		0.17	0.3	-0.45	0.32	0.03	0.04	0.24	0.03	MSFT
UBER	-0.04	0.17		0.18	-0.04	0.12	0.12	0.61	0.02	0.49	UBER
F	-0.64	0.3	0.18		-0.73	0.79	0.49	0.47	0.54	0.64	F
T	0.75	-0.45	-0.04	-0.73		-0.87	-0.31	-0.32	-0.55	-0.41	T
A	-0.69	0.32	0.12	0.79	-0.87		0.42	0.47	0.69	0.61	A
CRM	-0.28	0.03	0.12	0.49	-0.31	0.42		0.06	0.28	0.43	CRM
JPM	-0.44	0.04	0.61	0.47	-0.32	0.47	0.06		0.05	0.76	JPM
MRK	-0.41	0.24	0.02	0.54	-0.55	0.69	0.28	0.05		0.28	MRK
XOM	-0.41	0.03	0.49	0.64	-0.41	0.61	0.43	0.76	0.28		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

A	+ 0.79	F
XOM	+ 0.76	JPM
T	+ 0.75	META
MRK	+ 0.69	A
XOM	+ 0.64	F
JPM	+ 0.61	UBER

High negative correlations

A	- 0.87	T
T	- 0.73	F
A	- 0.69	META
F	- 0.64	META
MRK	- 0.55	T
T	- 0.45	MSFT

IShares SP Competition 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
META	1.28	(0.41)	0.00	(0.24)	0.00	0.00	2.12	(2.67)	14.49
MSFT	0.75	(0.13)	0.00	(0.11)	0.00	0.00	1.77	(1.98)	5.08
UBER	1.47	(0.08)	(0.05)	0.00	1.96	(1.48)	3.34	(3.30)	9.09
F	1.36	0.14	0.11	0.18	1.45	(1.60)	3.66	(1.73)	16.30
T	0.96	(0.19)	0.00	(0.80)	0.00	0.00	1.82	(2.32)	6.25
A	1.31	0.27	0.22	0.29	0.94	(1.48)	3.82	(2.04)	10.46
CRM	1.59	(0.09)	(0.04)	0.01	2.18	(1.56)	3.59	(3.61)	9.91
JPM	0.79	0.06	0.04	0.16	0.99	(0.78)	1.67	(1.74)	4.74
MRK	1.16	0.06	0.03	0.17	1.16	(1.36)	1.80	(2.36)	11.45
XOM	0.86	0.12	0.06	0.36	1.02	(0.85)	1.77	(1.93)	4.70

Be your own money manager

Our tools can tell you how much better you can do entering a position in IShares SP without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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