IShares Currency Correlations

Etfs . USA . 
Etf . iShares Currency Hedged
HAWX Etf  USD 34.21  0.13  0.38%   
The current 90-days correlation between iShares Currency Hedged and iShares Currency Hedged is 0.92 (i.e., Almost no diversification). The correlation of IShares Currency 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 Currency Correlation With Market

Poor diversification

The correlation between iShares Currency Hedged and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Currency Hedged and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iShares Currency Hedged. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with IShares Etf

  0.97VEA Vanguard FTSE DevelopedPairCorr
  0.96IEFA iShares Core MSCI Sell-off TrendPairCorr
  0.97VEU Vanguard FTSE AllPairCorr
  0.96EFA iShares MSCI EAFE Sell-off TrendPairCorr
  0.97IXUS iShares Core MSCIPairCorr
  0.98SPDW SPDR SP WorldPairCorr
  0.97IDEV iShares Core MSCIPairCorr
  0.96ESGD iShares ESG AwarePairCorr
  0.97JIRE JP Morgan ExchangePairCorr
  0.95DFAX Dimensional WorldPairCorr
  0.63XTAP Innovator Equity AccPairCorr
  0.91GDXU MicroSectors Gold MinersPairCorr
  0.87JNJ Johnson Johnson Sell-off TrendPairCorr
  0.75MCD McDonaldsPairCorr
  0.71CVX Chevron CorpPairCorr
  0.65TRV The Travelers CompaniesPairCorr
  0.78VZ Verizon CommunicationsPairCorr
  0.9GE GE AerospacePairCorr
  0.72INTC Intel Sell-off TrendPairCorr
  0.63XOM Exxon Mobil Corp Earnings Call Next WeekPairCorr

Moving against IShares Etf

  0.74MRK Merck CompanyPairCorr
  0.51CAT CaterpillarPairCorr
  0.37HPQ HP IncPairCorr
  0.37DIS Walt DisneyPairCorr

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   
ISCF
+ 0.96
HEEM
HEFA
+ 0.91
ISCF
HEFA
+ 0.89
HSCZ
ISCF
+ 0.86
HSCZ
HEFA
+ 0.85
HEEM
HEEM
+ 0.81
HSCZ
  
High negative correlations   
HEWC
- 0.0
HEFA
HEWC
- 0.0
ISCF
HEWC
- 0.0
HEEM
HEWC
- 0.0
HSCZ

IShares Currency Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Currency 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 Currency'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.

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