IShares Core Correlations

AGG Etf

USD 98.74 0.12 0.12%

The current 90-days correlation between iShares Core Aggregate and iShares MSCI EAFE is 0.12 (i.e., Average diversification). The correlation of IShares Core 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.

IShares Core Correlation With Market

Average diversification

The correlation between iShares Core Aggregate and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Core Aggregate and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in iShares Core Aggregate. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with IShares Etf

0.87	BND	Vanguard Total Bond	Pair Corr
1.0	BIV	Vanguard Intermediate	Pair Corr
1.0	SPAB	SPDR Portfolio Aggregate	Pair Corr
1.0	EAGG	iShares ESG Aggregate	Pair Corr
1.0	FLCB	Franklin Templeton ETF	Pair Corr
1.0	UITB	VictoryShares USAA Core	Pair Corr
1.0	DFCF	Dimensional ETF Trust	Pair Corr
0.99	JAGG	JPMorgan BetaBuilders	Pair Corr
1.0	AGGY	WisdomTree Yield Enhanced	Pair Corr
0.89	BABX	GraniteShares 175x Long	Pair Corr
0.74	GDXU	MicroSectors Gold Miners	Pair Corr
0.9	XPP	ProShares Ultra FTSE	Pair Corr
0.73	JNUG	Direxion Daily Junior	Pair Corr
0.83	VZ	Verizon Communications	Pair Corr
0.71	MCD	McDonalds	Pair Corr
0.79	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.78	T	ATT Inc Sell-off Trend	Pair Corr
0.75	PG	Procter Gamble	Pair Corr

Moving against IShares Etf

0.58	MSFT	Microsoft Aggressive Push	Pair Corr
0.62	AA	Alcoa Corp	Pair Corr
0.59	CAT	Caterpillar	Pair Corr
0.55	AXP	American Express	Pair Corr
0.38	DIS	Walt Disney	Pair Corr
0.35	MRK	Merck Company	Pair Corr
0.31	BA	Boeing	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.02	0.58	-0.53	0.3	0.43	0.28	0.9	-0.74	-0.03	META
MSFT	-0.02		-0.62	0.02	-0.8	0.7	0.89	0.13	0.43	-0.55	MSFT
UBER	0.58	-0.62		-0.28	0.81	-0.27	-0.53	0.51	-0.84	0.57	UBER
F	-0.53	0.02	-0.28		0.0	-0.09	-0.16	-0.37	0.51	0.36	F
T	0.3	-0.8	0.81	0.0		-0.59	-0.71	0.16	-0.65	0.6	T
A	0.43	0.7	-0.27	-0.09	-0.59		0.8	0.62	0.11	-0.34	A
CRM	0.28	0.89	-0.53	-0.16	-0.71	0.8		0.36	0.23	-0.61	CRM
JPM	0.9	0.13	0.51	-0.37	0.16	0.62	0.36		-0.63	0.06	JPM
MRK	-0.74	0.43	-0.84	0.51	-0.65	0.11	0.23	-0.63		-0.32	MRK
XOM	-0.03	-0.55	0.57	0.36	0.6	-0.34	-0.61	0.06	-0.32		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

JPM	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.81	UBER
CRM	+ 0.8	A
A	+ 0.7	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.84	UBER
T	- 0.8	MSFT
MRK	- 0.74	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

IShares Core Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Core 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 Core'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	1.63	0.04	0.02	0.00	2.27	(1.46)	2.96	(3.73)	8.90
MSFT	1.11	(0.18)	0.00	(0.29)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.40	0.18	0.75	2.03	(2.05)	4.72	(3.13)	12.75
F	1.44	0.14	0.06	0.09	2.12	(1.42)	2.71	(2.88)	10.14
T	0.99	0.29	0.19	0.56	1.43	(1.11)	1.90	(1.55)	11.66
A	1.16	(0.14)	0.00	(0.20)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.40	(0.29)	0.00	(0.29)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.14	0.10	0.05	0.05	1.76	(1.09)	2.16	(3.35)	6.85
MRK	1.16	(0.11)	0.00	1.03	0.00	0.00	2.07	(1.80)	11.58
XOM	1.03	0.13	0.10	0.27	1.28	(1.06)	2.55	(2.36)	5.89

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