IShares Global Correlations

JXI Etf  USD 68.08  0.20  0.29%   
The current 90-days correlation between iShares Global Utilities and iShares Global Consumer is 0.34 (i.e., Weak diversification). The correlation of IShares Global 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.

IShares Global Correlation With Market

Significant diversification

The correlation between iShares Global Utilities and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Global Utilities 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 Utilities. 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

  0.79XLU Utilities Select SectorPairCorr
  0.85VPU Vanguard Utilities IndexPairCorr
  0.85FUTY Fidelity MSCI UtilitiesPairCorr
  0.87IDU iShares Utilities ETFPairCorr
  0.98FXU First Trust UtilitiesPairCorr
  0.86GDXU MicroSectors Gold MinersPairCorr
  0.62JNJ Johnson Johnson Sell-off TrendPairCorr

Moving against IShares Etf

  0.62NAIL Direxion Daily HomebPairCorr
  0.56USD ProShares Ultra SemiPairCorr
  0.56GBTC Grayscale Bitcoin TrustPairCorr
  0.55TECL Direxion Daily TechnologyPairCorr
  0.5FNGO MicroSectors FANG IndexPairCorr
  0.41FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.4SPXL Direxion Daily SP500PairCorr
  0.34UPRO ProShares UltraPro SP500PairCorr
  0.45DIS Walt DisneyPairCorr
  0.43MSFT Microsoft Aggressive PushPairCorr
  0.42CAT CaterpillarPairCorr
  0.4BAC Bank of America Aggressive PushPairCorr
  0.4MRK Merck CompanyPairCorr
  0.39HPQ HP IncPairCorr
  0.31AA Alcoa CorpPairCorr

Related Correlations Analysis

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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.