IShares Currency Correlations

Etfs . USA . 
Etf . iShares Currency Hedged
HEZU Etf  USD 40.37  0.34  0.85%   
The current 90-days correlation between iShares Currency Hedged and iShares Currency Hedged is -0.17 (i.e., Good 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

Very weak diversification

The correlation between iShares Currency Hedged and DJI is 0.5 (i.e., Very 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 nation.

Moving together with IShares Etf

  0.97VGK Vanguard FTSE EuropePairCorr
  0.96EZU iShares MSCI EurozonePairCorr
  0.94BBEU JPMorgan BetaBuildersPairCorr
  0.96IEUR iShares Core MSCIPairCorr
  0.98FEZ SPDR EURO STOXXPairCorr
  0.96IEV iShares Europe ETFPairCorr
  0.98HEDJ WisdomTree Europe HedgedPairCorr
  0.98DBEU Xtrackers MSCI EuropePairCorr
  0.89FEP First Trust EuropePairCorr
  0.94IGA Voya Global AdvantagePairCorr
  0.89GDXU MicroSectors Gold MinersPairCorr
  0.77CVX Chevron CorpPairCorr
  0.8CSCO Cisco SystemsPairCorr
  0.9GE GE AerospacePairCorr
  0.82VZ Verizon Communications Sell-off TrendPairCorr
  0.88MMM 3M CompanyPairCorr
  0.92JNJ Johnson JohnsonPairCorr
  0.67INTC Intel Sell-off TrendPairCorr
  0.65XOM Exxon Mobil Corp Earnings Call This WeekPairCorr
  0.93T ATT Inc Aggressive PushPairCorr
  0.85IBM International BusinessPairCorr
  0.88KO Coca Cola Sell-off TrendPairCorr

Moving against IShares Etf

  0.67MAGS Roundhill MagnificentPairCorr
  0.53SEMI Columbia SeligmanPairCorr
  0.7MRK Merck CompanyPairCorr
  0.53CAT CaterpillarPairCorr
  0.46HPQ HP IncPairCorr

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   
DBEU
+ 0.97
HEFA
HEEM
+ 0.86
HEFA
HEEM
+ 0.84
DBEU
HEFA
+ 0.18
HEWJ
HEEM
+ 0.16
HEWJ
DBEU
+ 0.13
HEWJ
  
High negative correlations   
HEEM
- 0.0
HEWG
DBEU
- 0.0
HEWG
HEFA
- 0.0
HEWG
HEWG
- 0.0
HEWJ

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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