IShares SP Correlations

Etfs . USA . 
Etf . iShares SP Small Cap
IJT Etf  USD 124.67  0.73  0.58%   
The current 90-days correlation between iShares SP Small and iShares SP Mid Cap is 0.95 (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

Good diversification

The correlation between iShares SP Small Cap and DJI is -0.06 (i.e., Good 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

  0.78VBK Vanguard Small CapPairCorr
  0.99IWO iShares Russell 2000PairCorr
  1.0SLYG SPDR SP 600PairCorr
  0.77PBW Invesco WilderHill CleanPairCorr
  0.75JKK iShares MorningstarPairCorr
  0.99VTWG Vanguard Russell 2000PairCorr
  0.99VRTGX Vanguard Russell 2000PairCorr
  1.0VIOG Vanguard SP SmallPairCorr
  1.0ISCG iShares MorningstarPairCorr
  0.91GBTC Grayscale Bitcoin TrustPairCorr
  0.76USD ProShares Ultra SemiPairCorr
  0.64TECL Direxion Daily TechnologyPairCorr
  0.91ROM ProShares Ultra TechPairCorr
  0.69QLD ProShares Ultra QQQPairCorr
  0.86SMH VanEck Semiconductor ETFPairCorr
  0.96SPXL Direxion Daily SP500PairCorr
  0.87SOXX iShares Semiconductor ETFPairCorr
  0.74UPRO ProShares UltraPro SP500PairCorr
  0.69JPM JPMorgan ChasePairCorr
  0.87AXP American ExpressPairCorr
  0.74HD Home DepotPairCorr
  0.65BA BoeingPairCorr

Moving against IShares Etf

  0.49GDXU MicroSectors Gold MinersPairCorr
  0.68VZ Verizon CommunicationsPairCorr
  0.61TRV The Travelers CompaniesPairCorr
  0.55MCD McDonaldsPairCorr
  0.51PG Procter GamblePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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