IShares SP Correlations

Etfs . USA . 
Etf . iShares SP Small Cap
IJS Etf  USD 98.54  0.87  0.88%   
The current 90-days correlation between iShares SP Small and iShares SP Small Cap is 0.92 (i.e., Almost no diversification). The correlation of IShares SP 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 SP Correlation With Market

Poor diversification

The correlation between iShares SP Small Cap and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares SP Small Cap 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 SP Small Cap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with IShares Etf

  0.96VBR Vanguard Small CapPairCorr
  0.98IWN iShares Russell 2000PairCorr
  0.91IJJ iShares SP MidPairCorr
  0.98DFAT Dimensional TargetedPairCorr
  1.0SLYV SPDR SP 600PairCorr
  0.99AVUV Avantis Small CapPairCorr
  0.98DES WisdomTree SmallCapPairCorr
  0.91MDYV SPDR SP 400PairCorr
  0.95CALF Pacer Small Cap Low VolatilityPairCorr
  0.91VTI Vanguard Total StockPairCorr
  0.88SPY SPDR SP 500PairCorr
  0.88IVV iShares Core SP Sell-off TrendPairCorr
  0.93VUG Vanguard Growth IndexPairCorr
  0.82VO Vanguard Mid CapPairCorr
  0.88MSFT MicrosoftPairCorr
  0.65BA BoeingPairCorr
  0.84BAC Bank of America Sell-off TrendPairCorr
  0.81CAT CaterpillarPairCorr
  0.77AA Alcoa CorpPairCorr
  0.89HD Home DepotPairCorr

Moving against IShares Etf

  0.71BND Vanguard Total Bond Sell-off TrendPairCorr
  0.61VEA Vanguard FTSE DevelopedPairCorr
  0.59GDXU MicroSectors Gold MinersPairCorr
  0.76JNJ Johnson JohnsonPairCorr
  0.76VZ Verizon CommunicationsPairCorr
  0.73KO Coca ColaPairCorr
  0.72TRV The Travelers CompaniesPairCorr
  0.6MCD McDonaldsPairCorr
  0.43XOM Exxon Mobil Corp Aggressive PushPairCorr
  0.39IBM International BusinessPairCorr

Related Correlations Analysis

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IShares SP Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares SP 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 SP'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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