IShares Europe Correlations

IEV Etf

USD 58.37 0.81 1.41%

The current 90-days correlation between iShares Europe ETF and iShares MSCI Pacific is -0.04 (i.e., Good diversification). The correlation of IShares Europe 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 Europe Correlation With Market

Good diversification

The correlation between iShares Europe ETF and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Europe ETF 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 Europe ETF. 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

1.0	VGK	Vanguard FTSE Europe	Pair Corr
0.98	EZU	iShares MSCI Eurozone	Pair Corr
0.63	BBEU	JPMorgan BetaBuilders	Pair Corr
1.0	IEUR	iShares Core MSCI	Pair Corr
0.97	FEZ	SPDR EURO STOXX	Pair Corr
0.99	FEP	First Trust Europe	Pair Corr
0.71	INTC	Intel Downward Rally	Pair Corr
0.65	GE	GE Aerospace	Pair Corr
0.65	T	ATT Inc Aggressive Push	Pair Corr
0.81	JNJ	Johnson Johnson	Pair Corr

Moving against IShares Etf

0.6	MRK	Merck Company Aggressive Push	Pair Corr
0.48	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	EZU	EPP	ILF	EWQ	EWU
EZU		0.52	0.89	0.62	0.91	EZU
EPP	0.52		0.74	0.36	0.78	EPP
ILF	0.89	0.74		0.68	0.96	ILF
EWQ	0.62	0.36	0.68		0.58	EWQ
EWU	0.91	0.78	0.96	0.58		EWU
	EZU	EPP	ILF	EWQ	EWU

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IShares Europe Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Europe 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 Europe'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
EZU	0.68	0.20	0.21	0.45	0.68	(0.74)	1.47	(1.59)	4.03
EPP	0.62	(0.04)	0.00	(0.08)	0.00	0.00	1.33	(1.61)	4.94
ILF	0.98	0.04	0.03	0.15	1.41	(0.93)	2.29	(1.93)	6.16
EWQ	0.72	0.14	0.15	(2.40)	0.73	(0.77)	1.74	(1.16)	4.28
EWU	0.57	0.08	0.10	0.16	0.55	(0.63)	1.47	(1.05)	3.25

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