IShares European Correlations

IPRP Etf

EUR 29.32 0.32 1.08%

The current 90-days correlation between iShares European Property and iShares III Public is 0.51 (i.e., Very weak diversification). The correlation of IShares European 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 European Correlation With Market

Significant diversification

The correlation between iShares European Property and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares European Property and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares European could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IShares European when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back IShares European - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling iShares European Property to buy it.

Moving together with IShares Etf

0.77	CNYB	iShares China CNY	Pair Corr
0.69	IMEU	iShares Core MSCI	Pair Corr

Moving against IShares Etf

0.82	SXLF	SSgA SPDR ETFs	Pair Corr
0.8	VUSA	Vanguard SP 500	Pair Corr
0.8	DIA	SPDR Dow Jones	Pair Corr
0.8	IUSA	iShares SP 500	Pair Corr
0.8	CSPX	iShares Core SP	Pair Corr
0.76	IWRD	iShares MSCI World	Pair Corr
0.76	SWRD	SSGA SPDR ETFS	Pair Corr
0.74	VWRL	Vanguard FTSE All	Pair Corr
0.7	WITS	iShares MSCI World	Pair Corr
0.56	CYBU	iShares China CNY	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.42	-0.28	-0.21	0.51	0.28	0.65	0.43	-0.4	0.02	META
MSFT	0.42		-0.49	-0.08	0.36	0.16	0.29	0.17	0.1	-0.72	MSFT
UBER	-0.28	-0.49		0.09	-0.7	0.11	-0.59	-0.46	0.4	0.47	UBER
F	-0.21	-0.08	0.09		0.18	-0.47	0.26	0.51	-0.32	0.33	F
T	0.51	0.36	-0.7	0.18		-0.29	0.88	0.85	-0.72	-0.17	T
A	0.28	0.16	0.11	-0.47	-0.29		-0.26	-0.46	0.57	-0.08	A
CRM	0.65	0.29	-0.59	0.26	0.88	-0.26		0.92	-0.83	0.03	CRM
JPM	0.43	0.17	-0.46	0.51	0.85	-0.46	0.92		-0.87	0.11	JPM
MRK	-0.4	0.1	0.4	-0.32	-0.72	0.57	-0.83	-0.87		-0.25	MRK
XOM	0.02	-0.72	0.47	0.33	-0.17	-0.08	0.03	0.11	-0.25		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

JPM	+ 0.92	CRM
CRM	+ 0.88	T
JPM	+ 0.85	T
CRM	+ 0.65	META
MRK	+ 0.57	A
T	+ 0.51	META

High negative correlations

MRK	- 0.87	JPM
MRK	- 0.83	CRM
MRK	- 0.72	T
XOM	- 0.72	MSFT
T	- 0.7	UBER
CRM	- 0.59	UBER

IShares European Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares European 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 European'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
META	1.15	0.21	0.11	0.55	1.25	(1.33)	3.22	(1.87)	8.02
MSFT	0.84	0.02	(0.01)	0.12	1.45	(0.79)	1.83	(1.57)	8.14
UBER	1.83	(0.28)	0.00	(0.13)	0.00	0.00	2.69	(5.35)	20.41
F	1.36	(0.13)	(0.04)	0.00	2.10	(1.41)	2.53	(2.79)	11.21
T	0.97	0.15	0.06	2.52	1.02	(1.08)	2.36	(1.99)	6.74
A	1.22	0.00	(0.04)	0.09	1.46	(1.30)	2.71	(2.41)	9.02
CRM	1.47	0.40	0.29	0.38	1.04	(1.72)	3.59	(1.93)	13.87
JPM	1.01	0.08	0.13	0.13	0.94	(1.19)	1.73	(1.42)	15.87
MRK	0.96	(0.20)	0.00	(0.82)	0.00	0.00	2.00	(2.17)	5.18
XOM	0.89	(0.02)	(0.07)	0.02	1.18	(0.97)	1.83	(1.96)	6.06

Be your own money manager

Our tools can tell you how much better you can do entering a position in IShares European without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Insider Screener Now

Insider Screener

Find insiders across different sectors to evaluate their impact on performance

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC