IShares Trust Correlations

EUSB Etf

USD 43.28 0.05 0.12%

The current 90-days correlation between iShares Trust and iShares ESG Aggregate is 0.09 (i.e., Significant 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.

IShares Trust Correlation With Market

Average diversification

The correlation between iShares Trust and DJI is 0.14 (i.e., Average 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 state.

For information on how to trade IShares Etf refer to our How to Trade IShares Etf guide.

Moving together with IShares Etf

0.96	IUSB	iShares Core Total Sell-off Trend	Pair Corr
0.95	FIXD	First Trust TCW	Pair Corr
1.0	FBND	Fidelity Total Bond Sell-off Trend	Pair Corr
0.99	TOTL	SPDR DoubleLine Total	Pair Corr
1.0	HTRB	Hartford Total Return	Pair Corr
0.95	GTO	Invesco Total Return	Pair Corr
0.97	JCPB	JPMorgan Core Plus	Pair Corr
0.94	VBND	Vident Core Bond	Pair Corr
0.96	CGCP	Capital Group Core	Pair Corr
0.66	MLPR	ETRACS Quarterly Pay	Pair Corr
0.62	GE	GE Aerospace	Pair Corr
0.92	T	ATT Inc Earnings Call This Week	Pair Corr
0.74	IBM	International Business	Pair Corr
0.86	TRV	The Travelers Companies	Pair Corr
0.92	VZ	Verizon Communications	Pair Corr
0.88	KO	Coca Cola	Pair Corr
0.76	PG	Procter Gamble	Pair Corr

Moving against IShares Etf

0.78	USD	ProShares Ultra Semi	Pair Corr
0.68	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.65	CAT	Caterpillar	Pair Corr
0.62	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.61	FNGO	MicroSectors FANG Index	Pair Corr
0.58	HPQ	HP Inc	Pair Corr
0.74	MSFT	Microsoft	Pair Corr
0.73	AA	Alcoa Corp	Pair Corr
0.56	AXP	American Express Sell-off Trend	Pair Corr
0.48	MRK	Merck Company	Pair Corr
0.45	HD	Home Depot	Pair Corr
0.38	BA	Boeing	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.07	0.61	-0.52	0.35	0.4	0.23	0.9	-0.75	0.03	META
MSFT	-0.07		-0.63	0.16	-0.79	0.68	0.89	0.07	0.46	-0.47	MSFT
UBER	0.61	-0.63		-0.4	0.8	-0.24	-0.54	0.55	-0.85	0.5	UBER
F	-0.52	0.16	-0.4		-0.1	0.01	-0.01	-0.39	0.58	0.29	F
T	0.35	-0.79	0.8	-0.1		-0.56	-0.7	0.2	-0.66	0.55	T
A	0.4	0.68	-0.24	0.01	-0.56		0.77	0.61	0.11	-0.25	A
CRM	0.23	0.89	-0.54	-0.01	-0.7	0.77		0.3	0.26	-0.52	CRM
JPM	0.9	0.07	0.55	-0.39	0.2	0.61	0.3		-0.64	0.09	JPM
MRK	-0.75	0.46	-0.85	0.58	-0.66	0.11	0.26	-0.64		-0.3	MRK
XOM	0.03	-0.47	0.5	0.29	0.55	-0.25	-0.52	0.09	-0.3		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	+ 0.8	UBER
CRM	+ 0.77	A
A	+ 0.68	MSFT
UBER	+ 0.61	META

High negative correlations

MRK	- 0.85	UBER
T	- 0.79	MSFT
MRK	- 0.75	META
CRM	- 0.7	T
MRK	- 0.66	T
MRK	- 0.64	JPM

IShares Trust Competition 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
META	1.59	(0.03)	0.00	(0.10)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.10	(0.17)	0.00	(0.32)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.89	0.35	0.16	0.60	2.15	(2.04)	4.72	(3.13)	12.75
F	1.47	0.08	0.03	0.00	2.22	(1.39)	2.71	(2.89)	10.14
T	1.05	0.27	0.17	0.42	1.61	(1.12)	1.90	(1.75)	11.66
A	1.16	(0.17)	0.00	(0.26)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.29)	0.00	(0.33)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.07	0.04	(0.01)	1.72	(1.04)	1.99	(3.35)	6.85
MRK	1.15	(0.08)	0.00	1.02	0.00	0.00	2.07	(1.80)	11.58
XOM	1.07	0.10	0.10	0.15	1.40	(1.08)	2.55	(2.36)	5.89

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