IShares Currency Correlations

Etfs . USA . 
Etf . iShares Currency Hedged
HEEM Etf  USD 28.67  0.20  0.70%   
The current 90-days correlation between iShares Currency Hedged and iShares Currency Hedged is 0.59 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Currency moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Currency Hedged moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Currency Correlation With Market

Weak diversification

The correlation between iShares Currency Hedged and DJI is 0.32 (i.e., Weak 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 income.

Moving together with IShares Etf

  0.87VWO Vanguard FTSE Emerging Sell-off TrendPairCorr
  0.99IEMG iShares Core MSCI Sell-off TrendPairCorr
  0.75EMC Global X FundsPairCorr
  0.91EEM iShares MSCI EmergingPairCorr
  0.97SPEM SPDR Portfolio Emerging Sell-off TrendPairCorr
  0.98FNDE Schwab FundamentalPairCorr
  0.92ESGE iShares ESG AwarePairCorr
  0.87SFGRX Seafarer OverseasPairCorr
  0.71DGS WisdomTree EmergingPairCorr
  0.74XSOE WisdomTree EmergingPairCorr
  0.83FXY Invesco CurrencySharesPairCorr
  0.79PMBS PIMCO Mortgage BackedPairCorr
  0.65AMPD Tidal Trust IIPairCorr
  0.89GDXU MicroSectors Gold MinersPairCorr
  0.83KO Coca Cola Sell-off TrendPairCorr
  0.86T ATT Inc Aggressive PushPairCorr
  0.77MCD McDonaldsPairCorr
  0.67CSCO Cisco SystemsPairCorr
  0.61CVX Chevron CorpPairCorr
  0.62TRV The Travelers CompaniesPairCorr
  0.79VZ Verizon Communications Sell-off TrendPairCorr
  0.64XOM Exxon Mobil Corp Earnings Call This WeekPairCorr
  0.67MMM 3M CompanyPairCorr
  0.77INTC Intel Sell-off TrendPairCorr

Moving against IShares Etf

  0.62WGMI Valkyrie Bitcoin MinersPairCorr
  0.36HPQ HP IncPairCorr
  0.66MSFT Microsoft Aggressive PushPairCorr
  0.58CAT CaterpillarPairCorr
  0.49DIS Walt DisneyPairCorr
  0.43AXP American ExpressPairCorr

Related Correlations Analysis

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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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