IShares Agency Correlations

AGZ Etf  USD 109.23  0.02  0.02%   
The current 90-days correlation between iShares Agency Bond and iShares Intermediate GovernmentCredit is 0.85 (i.e., Very poor diversification). The correlation of IShares Agency 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 Agency Correlation With Market

Significant diversification

The correlation between iShares Agency Bond and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Agency Bond 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 Agency Bond. 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

  0.98SHY iShares 1 3PairCorr
  0.98LMBS First Trust LowPairCorr
  0.97SPTS SPDR Barclays ShortPairCorr
  0.96FTSD Franklin Liberty ShortPairCorr
  0.98UTWO Rbb FundPairCorr
  0.98XTWO Bondbloxx ETF TrustPairCorr
  0.99XTRE Bondbloxx ETF TrustPairCorr
  0.91TRSY Xtrackers 0 1PairCorr
  0.95SLDR Global X ShortPairCorr
  0.94FXY Invesco CurrencySharesPairCorr
  0.98PMBS PIMCO Mortgage BackedPairCorr
  0.67AMPD Tidal Trust IIPairCorr
  0.77GDXU MicroSectors Gold MinersPairCorr
  0.61XOM Exxon Mobil CorpPairCorr
  0.64CVX Chevron CorpPairCorr
  0.71MMM 3M CompanyPairCorr
  0.91VZ Verizon CommunicationsPairCorr
  0.91T ATT Inc Earnings Call TomorrowPairCorr
  0.65PG Procter GamblePairCorr
  0.73MCD McDonaldsPairCorr
  0.95JNJ Johnson JohnsonPairCorr
  0.89TRV The Travelers CompaniesPairCorr

Moving against IShares Etf

  0.88WGMI Valkyrie Bitcoin MinersPairCorr
  0.82MSFT MicrosoftPairCorr
  0.65CAT CaterpillarPairCorr
  0.61AXP American ExpressPairCorr
  0.56DIS Walt DisneyPairCorr
  0.46BA BoeingPairCorr
  0.41MRK Merck CompanyPairCorr

Related Correlations Analysis

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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   
JPMMETA
CRMMSFT
TUBER
CRMA
AMSFT
JPMA
  
High negative correlations   
MRKUBER
TMSFT
MRKMETA
CRMT
MRKT
MRKJPM

IShares Agency Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Agency 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 Agency'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.59  0.02  0.00 (0.05) 0.00 
 2.57 
 8.90 
MSFT  1.12 (0.15) 0.00 (0.28) 0.00 
 2.58 
 10.31 
UBER  1.88  0.41  0.19  0.74  2.06 
 4.72 
 12.75 
F  1.47  0.07  0.03  0.00  2.22 
 2.71 
 10.14 
T  1.04  0.26  0.16  0.40  1.61 
 1.90 
 11.66 
A  1.15 (0.15) 0.00 (0.23) 0.00 
 2.92 
 9.03 
CRM  1.38 (0.27) 0.00 (0.31) 0.00 
 2.72 
 8.88 
JPM  1.10  0.09  0.05  0.02  1.74 
 1.99 
 6.85 
MRK  1.17 (0.11) 0.00  1.52  0.00 
 2.07 
 11.58 
XOM  1.06  0.11  0.10  0.17  1.39 
 2.55 
 5.89