IShares Global Correlations

IXJ Etf

USD 92.45 0.34 0.37%

The current 90-days correlation between iShares Global Healthcare and iShares Healthcare ETF is 0.96 (i.e., Almost no 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 Healthcare moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Global Correlation With Market

Very weak diversification

The correlation between iShares Global Healthcare and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Global Healthcare 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 Healthcare. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with IShares Etf

0.99	XLV	Health Care Select	Pair Corr
0.98	VHT	Vanguard Health Care	Pair Corr
0.74	IBB	iShares Biotechnology ETF Sell-off Trend	Pair Corr
0.99	IYH	iShares Healthcare ETF	Pair Corr
0.98	FHLC	Fidelity MSCI Health	Pair Corr
0.84	IHF	iShares Healthcare	Pair Corr
0.9	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.95	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.95	KO	Coca Cola Aggressive Push	Pair Corr

Moving against IShares Etf

0.91	DSJA	DSJA	Pair Corr
0.9	RSPY	Tuttle Capital Management	Pair Corr
0.89	MEME	Roundhill Investments	Pair Corr
0.81	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.6	IHI	iShares Medical Devices	Pair Corr
0.47	ITDD	iShares Trust	Pair Corr
0.89	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.87	BAC	Bank of America Aggressive Push	Pair Corr
0.86	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.85	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.83	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.73	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.64	HPQ	HP Inc	Pair Corr
0.61	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.61	HD	Home Depot	Pair Corr
0.51	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr

Related Correlations Analysis

	IXG	IXN	IXP	IYH	IXC
IXG		0.7	0.81	-0.81	0.6	IXG
IXN	0.7		0.8	-0.46	0.57	IXN
IXP	0.81	0.8		-0.72	0.66	IXP
IYH	-0.81	-0.46	-0.72		-0.51	IYH
IXC	0.6	0.57	0.66	-0.51		IXC
	IXG	IXN	IXP	IYH	IXC

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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

IXP	+ 0.81	IXG
IXP	+ 0.8	IXN
IXN	+ 0.7	IXG
IXC	+ 0.66	IXP
IXC	+ 0.6	IXG
IXC	+ 0.57	IXN

High negative correlations

IYH	- 0.81	IXG
IYH	- 0.72	IXP
IXC	- 0.51	IYH
IYH	- 0.46	IXN

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
IXG	0.62	0.14	0.00	(1.63)	0.45	(0.71)	1.40	(1.08)	4.05
IXN	0.91	0.01	(0.07)	1.59	1.42	(0.84)	1.81	(2.08)	6.18
IXP	0.61	0.06	0.00	0.24	0.69	(0.63)	1.24	(1.33)	3.19
IYH	0.56	(0.16)	0.00	(0.16)	0.00	0.00	0.87	(1.23)	2.99
IXC	0.83	(0.05)	(0.09)	0.03	1.27	(0.77)	1.47	(1.98)	5.30

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