IShares Core Correlations

IEUR Etf

USD 61.52 0.53 0.85%

The current 90-days correlation between iShares Core MSCI and iShares Core MSCI is 0.79 (i.e., Poor diversification). The correlation of IShares Core 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 Core Correlation With Market

Significant diversification

The correlation between iShares Core MSCI and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Core MSCI 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 Core MSCI. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with IShares Etf

1.0	VGK	Vanguard FTSE Europe	Pair Corr
0.78	EZU	iShares MSCI Eurozone	Pair Corr
0.81	BBEU	JPMorgan BetaBuilders	Pair Corr
0.99	FEZ	SPDR EURO STOXX	Pair Corr
1.0	IEV	iShares Europe ETF	Pair Corr
0.96	HEDJ	WisdomTree Europe Hedged	Pair Corr
0.95	DBEU	Xtrackers MSCI Europe	Pair Corr
0.97	HEZU	iShares Currency Hedged	Pair Corr
0.98	FEP	First Trust Europe	Pair Corr
0.96	IGA	Voya Global Advantage	Pair Corr
0.89	GDXU	MicroSectors Gold Miners	Pair Corr
0.8	VZ	Verizon Communications	Pair Corr
0.76	JNJ	Johnson Johnson	Pair Corr
0.77	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.64	IBM	International Business	Pair Corr
0.66	PG	Procter Gamble	Pair Corr
0.76	KO	Coca Cola	Pair Corr

Moving against IShares Etf

0.69	SEMI	Columbia Seligman	Pair Corr
0.62	MAGS	Roundhill Magnificent	Pair Corr
0.4	PXMV	Invesco SP MidCap	Pair Corr
0.5	CAT	Caterpillar	Pair Corr
0.49	HPQ	HP Inc	Pair Corr
0.44	MRK	Merck Company	Pair Corr
0.31	BA	Boeing	Pair Corr

Related Correlations Analysis

	IPAC	IXUS	IEUS	HEZU	IUSV
IPAC		0.96	0.94	0.88	0.18	IPAC
IXUS	0.96		0.98	0.96	0.11	IXUS
IEUS	0.94	0.98		0.93	0.03	IEUS
HEZU	0.88	0.96	0.93		0.19	HEZU
IUSV	0.18	0.11	0.03	0.19		IUSV
	IPAC	IXUS	IEUS	HEZU	IUSV

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IShares Core Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Core 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 Core'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
IPAC	0.65	0.07	0.18	(1.67)	0.65	(0.74)	1.46	(0.88)	4.15
IXUS	0.64	0.11	0.21	(5.65)	0.69	(0.71)	1.33	(1.04)	4.82
IEUS	0.83	0.15	0.21	2.30	0.85	(0.92)	2.09	(1.44)	6.18
HEZU	0.61	0.18	0.27	4.53	0.65	(0.66)	1.05	(1.07)	4.34
IUSV	0.62	(0.01)	0.00	(0.09)	0.00	0.00	1.17	(1.52)	2.83

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