IShares Global Correlations

Etfs . USA . 
Etf . iShares Global Tech
IXN Etf  USD 78.49  0.10  0.13%   
The current 90-days correlation between iShares Global Tech and iShares Global Financials is 0.54 (i.e., Very weak 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 Tech 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 Tech and DJI is 0.54 (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 Tech 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 Tech. 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

  0.99VGT Vanguard InformationPairCorr
  1.0XLK Technology Select SectorPairCorr
  0.99IYW iShares Technology ETFPairCorr
  0.93SMH VanEck Semiconductor ETFPairCorr
  0.94SOXX iShares Semiconductor ETFPairCorr
  0.99FTEC Fidelity MSCI InformationPairCorr
  0.91IGV iShares Expanded TechPairCorr
  0.82FDN First Trust DowPairCorr
  0.96IGM iShares Expanded TechPairCorr
  0.9VTI Vanguard Total StockPairCorr
  0.77GBTC Grayscale Bitcoin TrustPairCorr
  0.89VBK Vanguard Small CapPairCorr
  0.8AXP American ExpressPairCorr
  0.73BAC Bank of AmericaPairCorr
  0.75BA BoeingPairCorr
  0.91HPQ HP IncPairCorr

Moving against IShares Etf

  0.92FNGD MicroSectors FANG IndexPairCorr
  0.71JPST JPMorgan Ultra ShortPairCorr
  0.51GDXU MicroSectors Gold MinersPairCorr
  0.31EEM iShares MSCI EmergingPairCorr
  0.78TRV The Travelers CompaniesPairCorr
  0.67VZ Verizon CommunicationsPairCorr
  0.66JNJ Johnson JohnsonPairCorr
  0.56T ATT Inc Earnings Call TomorrowPairCorr
  0.42XOM Exxon Mobil CorpPairCorr
  0.42MCD McDonaldsPairCorr
  0.41CVX Chevron CorpPairCorr
  0.4MMM 3M CompanyPairCorr
  0.39PG Procter GamblePairCorr

Related Correlations Analysis

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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   
IYW
+ 0.98
IGM
IXJ
+ 0.9
IXG
IXP
+ 0.81
IXG
IXJ
+ 0.67
IXP
IGM
+ 0.39
IXP
IYW
+ 0.24
IXP
  
High negative correlations   
IYW
- 0.48
IXJ
IGM
- 0.34
IXJ
IYW
- 0.19
IXG
IGM
- 0.05
IXG

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.

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