IShares Global Correlations

IOO Etf

USD 98.46 0.14 0.14%

The current 90-days correlation between iShares Global 100 and iShares Europe ETF is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Global 100 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Global Correlation With Market

Poor diversification

The correlation between iShares Global 100 and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Global 100 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 Global 100. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with IShares Etf

0.72	VT	Vanguard Total World	Pair Corr
0.73	ACWI	iShares MSCI ACWI	Pair Corr
0.76	URTH	iShares MSCI World	Pair Corr
0.74	CRBN	iShares MSCI ACWI	Pair Corr
0.75	KOKU	Xtrackers MSCI Kokusai	Pair Corr
0.74	SPGM	SPDR Portfolio MSCI	Pair Corr
0.84	HPQ	HP Inc	Pair Corr
0.74	WMT	Walmart	Pair Corr
0.82	AXP	American Express	Pair Corr
0.71	JPM	JPMorgan Chase	Pair Corr
0.75	DIS	Walt Disney	Pair Corr

Moving against IShares Etf

0.32	XPP	ProShares Ultra FTSE	Pair Corr
0.55	TRV	The Travelers Companies	Pair Corr
0.42	VZ	Verizon Communications	Pair Corr

Related Correlations Analysis

	IEV	IXG	IXJ	IXP	OEF
IEV		0.79	0.89	0.43	-0.43	IEV
IXG	0.79		0.88	0.8	0.05	IXG
IXJ	0.89	0.88		0.64	-0.19	IXJ
IXP	0.43	0.8	0.64		0.43	IXP
OEF	-0.43	0.05	-0.19	0.43		OEF
	IEV	IXG	IXJ	IXP	OEF

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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

IXJ	+ 0.89	IEV
IXJ	+ 0.88	IXG
IXP	+ 0.8	IXG
IXG	+ 0.79	IEV
IXP	+ 0.64	IXJ
IXP	+ 0.43	IEV

High negative correlations

OEF	- 0.43	IEV
OEF	- 0.19	IXJ

IShares Global Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Global 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 Global'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
IEV	0.74	0.21	0.29	3.32	0.69	(0.86)	1.41	(1.18)	5.23
IXG	0.68	0.11	0.17	1.70	0.90	(0.73)	1.45	(1.29)	4.91
IXJ	0.62	0.09	0.22	10.08	0.54	(0.69)	1.37	(1.01)	3.61
IXP	0.76	0.01	0.08	(0.44)	0.93	(0.76)	1.32	(1.20)	4.90
OEF	0.87	(0.05)	0.00	(0.13)	0.00	0.00	1.34	(1.93)	5.11

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