IShares Trust Correlations

EGUS Etf

40.62 0.20 0.49%

The current 90-days correlation between iShares Trust and FT Vest Equity is 0.89 (i.e., Very poor diversification). The correlation of IShares Trust 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 Trust Correlation With Market

Poor diversification

The correlation between iShares Trust and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Trust and DJI in the same portfolio, assuming nothing else is changed.

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

For more information on how to buy IShares Etf please use our How to Invest in IShares Trust guide.

Moving together with IShares Etf

0.99	VUG	Vanguard Growth Index	Pair Corr
0.94	IWF	iShares Russell 1000	Pair Corr
0.91	IVW	iShares SP 500	Pair Corr
0.91	SPYG	SPDR Portfolio SP	Pair Corr
0.92	IUSG	iShares Core SP	Pair Corr
0.99	VONG	Vanguard Russell 1000	Pair Corr
0.93	MGK	Vanguard Mega Cap	Pair Corr
0.99	VRGWX	Vanguard Russell 1000	Pair Corr
0.9	QQQM	Invesco NASDAQ 100	Pair Corr
0.94	IWY	iShares Russell Top	Pair Corr
0.96	UPRO	ProShares UltraPro SP500	Pair Corr
0.85	QTJA	Innovator ETFs Trust	Pair Corr
0.92	QTOC	Innovator ETFs Trust	Pair Corr
0.87	XTOC	Innovator ETFs Trust	Pair Corr
0.8	XTJA	Innovator ETFs Trust	Pair Corr
0.82	BAC	Bank of America Sell-off Trend	Pair Corr
0.88	AXP	American Express Sell-off Trend	Pair Corr
0.83	DIS	Walt Disney	Pair Corr
0.85	MSFT	Microsoft	Pair Corr
0.83	HD	Home Depot	Pair Corr
0.69	CAT	Caterpillar	Pair Corr

Moving against IShares Etf

0.75	VZ	Verizon Communications	Pair Corr
0.74	JNJ	Johnson Johnson	Pair Corr
0.67	KO	Coca Cola	Pair Corr
0.64	T	ATT Inc Earnings Call This Week	Pair Corr
0.47	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.44	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.41	PG	Procter Gamble	Pair Corr
0.39	MMM	3M Company	Pair Corr
0.35	IBM	International Business	Pair Corr

Related Correlations Analysis

	DHDG	MBCC	DIHP	MCDS	MCHS	DISV	DJAN	MDLV	DJUL
DHDG		0.94	-0.01	0.85	-0.3	-0.23	0.81	0.01	0.88	DHDG
MBCC	0.94		0.18	0.75	-0.13	-0.06	0.78	0.22	0.86	MBCC
DIHP	-0.01	0.18		-0.38	0.89	0.96	-0.28	0.93	-0.17	DIHP
MCDS	0.85	0.75	-0.38		-0.61	-0.57	0.9	-0.29	0.93	MCDS
MCHS	-0.3	-0.13	0.89	-0.61		0.94	-0.54	0.86	-0.43	MCHS
DISV	-0.23	-0.06	0.96	-0.57	0.94		-0.5	0.86	-0.41	DISV
DJAN	0.81	0.78	-0.28	0.9	-0.54	-0.5		-0.2	0.95	DJAN
MDLV	0.01	0.22	0.93	-0.29	0.86	0.86	-0.2		-0.08	MDLV
DJUL	0.88	0.86	-0.17	0.93	-0.43	-0.41	0.95	-0.08		DJUL
	DHDG	MBCC	DIHP	MCDS	MCHS	DISV	DJAN	MDLV	DJUL

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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

DISV	+ 0.96	DIHP
DJUL	+ 0.95	DJAN
MBCC	+ 0.94	DHDG
DISV	+ 0.94	MCHS
MDLV	+ 0.93	DIHP
DJUL	+ 0.93	MCDS

High negative correlations

MCHS	- 0.61	MCDS
DISV	- 0.57	MCDS
DJAN	- 0.54	MCHS
DJAN	- 0.5	DISV
DJUL	- 0.43	MCHS
DJUL	- 0.41	DISV

IShares Trust Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Trust 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 Trust'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
DHDG	0.43	(0.02)	0.00	(0.12)	0.00	0.00	0.87	(0.94)	2.86
MBCC	0.76	(0.03)	0.00	(0.10)	0.00	0.00	1.34	(2.25)	4.26
DIHP	0.59	0.12	0.18	0.16	0.67	(0.63)	1.30	(1.21)	3.71
MCDS	0.79	(0.14)	0.00	1.11	0.00	0.00	1.28	(2.08)	4.01
MCHS	1.14	0.17	0.19	1.25	1.07	(1.27)	2.90	(1.70)	5.93
DISV	0.65	0.18	0.22	0.24	0.68	(0.66)	1.54	(1.20)	5.30
DJAN	0.29	(0.04)	0.00	0.53	0.00	0.00	0.61	(0.77)	2.02
MDLV	0.56	0.04	0.13	(0.70)	0.82	(0.52)	1.08	(1.52)	3.33
DJUL	0.45	(0.07)	0.00	0.57	0.00	0.00	0.80	(1.08)	2.99

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