IShares Correlations

HEWG Etf

USD 33.01 0.11 0.33%

The current 90-days correlation between IShares and iShares MSCI Frontier is 0.14 (i.e., Average diversification). The correlation of IShares 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 Correlation With Market

Good diversification

The correlation between IShares and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IShares 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. 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 against IShares Etf

0.63	CPST	Calamos ETF Trust	Pair Corr
0.59	PULS	PGIM Ultra Short	Pair Corr
0.43	KSA	iShares MSCI Saudi	Pair Corr
0.31	EWG	iShares MSCI Germany	Pair Corr
0.79	JPM	JPMorgan Chase	Pair Corr
0.59	BAC	Bank of America	Pair Corr
0.49	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.49	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.46	HD	Home Depot	Pair Corr
0.36	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.32	IBM	International Business Earnings Call This Week	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.55	-0.5	-0.54	-0.04	0.69	0.44	0.05	0.37	-0.31	META
MSFT	0.55		-0.5	-0.2	0.52	0.25	0.65	0.32	-0.07	-0.39	MSFT
UBER	-0.5	-0.5		0.63	-0.31	-0.15	-0.62	-0.18	0.18	0.76	UBER
F	-0.54	-0.2	0.63		0.26	-0.28	0.0	0.13	-0.11	0.81	F
T	-0.04	0.52	-0.31	0.26		-0.17	0.63	0.46	-0.26	-0.08	T
A	0.69	0.25	-0.15	-0.28	-0.17		0.15	0.15	0.34	-0.06	A
CRM	0.44	0.65	-0.62	0.0	0.63	0.15		0.34	-0.08	-0.17	CRM
JPM	0.05	0.32	-0.18	0.13	0.46	0.15	0.34		-0.63	-0.23	JPM
MRK	0.37	-0.07	0.18	-0.11	-0.26	0.34	-0.08	-0.63		0.25	MRK
XOM	-0.31	-0.39	0.76	0.81	-0.08	-0.06	-0.17	-0.23	0.25		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

XOM	+ 0.81	F
XOM	+ 0.76	UBER
A	+ 0.69	META
CRM	+ 0.65	MSFT
F	+ 0.63	UBER
CRM	+ 0.63	T

High negative correlations

MRK	- 0.63	JPM
CRM	- 0.62	UBER
F	- 0.54	META
UBER	- 0.5	MSFT
UBER	- 0.5	META
XOM	- 0.39	MSFT

IShares Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares 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' 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	1.44	0.18	0.09	0.71	1.46	(1.74)	3.51	(2.31)	7.43
MSFT	0.97	0.09	0.03	1.36	1.53	(0.97)	2.12	(1.73)	8.14
UBER	1.64	(0.19)	0.00	(4.00)	0.00	0.00	2.67	(5.35)	12.29
F	1.43	(0.19)	0.00	(0.25)	0.00	0.00	2.38	(2.90)	9.39
T	0.99	0.06	0.03	0.21	1.12	(1.07)	1.91	(1.84)	7.96
A	1.19	0.22	0.15	0.50	1.06	(1.42)	2.81	(2.11)	8.06
CRM	1.46	0.22	0.11	0.90	1.49	(1.69)	3.16	(2.88)	14.80
JPM	1.07	0.25	0.17	0.95	1.07	(1.26)	1.92	(1.42)	15.87
MRK	1.01	(0.19)	0.00	(1.02)	0.00	0.00	1.74	(2.17)	5.24
XOM	0.75	(0.15)	0.00	(0.28)	0.00	0.00	1.71	(1.67)	6.06

IShares Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with IShares etf to make a market-neutral strategy. Peer analysis of IShares could also be used in its relative valuation, which is a method of valuing IShares by comparing valuation metrics with similar companies.

iShares MSCI Frontier IShares SPTSX Canadian IShares Global Agriculture IShares Public Limited IShares IShares SPTSX Capped IShares III Public IShares Canadian Real IShares Canadian HYBrid American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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