IShares Russell Correlations

IWO Etf

USD 262.96 1.30 0.49%

The current 90-days correlation between iShares Russell 2000 and iShares Russell 2000 is 0.9 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Russell moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Russell 2000 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Russell Correlation With Market

Poor diversification

The correlation between iShares Russell 2000 and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Russell 2000 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 Russell 2000. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with IShares Etf

0.99	VBK	Vanguard Small Cap	Pair Corr
0.76	IJT	iShares SP Small	Pair Corr
0.76	SLYG	SPDR SP 600	Pair Corr
0.65	PBW	Invesco WilderHill Clean	Pair Corr
1.0	VTWG	Vanguard Russell 2000	Pair Corr
0.78	VRTGX	Vanguard Russell 2000	Pair Corr
0.76	VIOG	Vanguard SP Small	Pair Corr
0.77	ISCG	iShares Morningstar	Pair Corr
0.91	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.82	USD	ProShares Ultra Semi	Pair Corr
0.93	TECL	Direxion Daily Technology	Pair Corr
0.93	ROM	ProShares Ultra Tech	Pair Corr
0.94	QLD	ProShares Ultra QQQ	Pair Corr
0.7	SMH	VanEck Semiconductor ETF	Pair Corr
0.94	SPXL	Direxion Daily SP500	Pair Corr
0.69	SOXX	iShares Semiconductor ETF	Pair Corr
0.94	UPRO	ProShares UltraPro SP500	Pair Corr
0.77	DIS	Walt Disney	Pair Corr
0.92	AXP	American Express	Pair Corr
0.87	HD	Home Depot	Pair Corr
0.83	HPQ	HP Inc	Pair Corr
0.83	MSFT	Microsoft	Pair Corr
0.71	BA	Boeing	Pair Corr

Moving against IShares Etf

0.37	GDXU	MicroSectors Gold Miners	Pair Corr
0.78	VZ	Verizon Communications	Pair Corr
0.75	TRV	The Travelers Companies	Pair Corr
0.61	MCD	McDonalds	Pair Corr
0.46	PG	Procter Gamble	Pair Corr
0.41	XOM	Exxon Mobil Corp	Pair Corr
0.37	CVX	Chevron Corp	Pair Corr
0.33	IBM	International Business	Pair Corr

Related Correlations Analysis

	IWN	IWP	IWD	IWF	IWS
IWN		0.73	0.51	0.95	0.93	IWN
IWP	0.73		0.64	0.75	0.78	IWP
IWD	0.51	0.64		0.45	0.76	IWD
IWF	0.95	0.75	0.45		0.87	IWF
IWS	0.93	0.78	0.76	0.87		IWS
	IWN	IWP	IWD	IWF	IWS

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IShares Russell Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Russell 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 Russell'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
IWN	0.86	(0.12)	(0.20)	1.47	(2.22)	4.61
IWP	1.16	(0.12)	1.05	1.85	(2.44)	5.86
IWD	0.66	0.02	(0.04)	1.26	(1.43)	3.29
IWF	1.09	(0.10)	(0.17)	1.81	(2.78)	6.38
IWS	0.72	(0.05)	(0.13)	1.19	(1.72)	3.26

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