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.
IShares |
Moving together with IShares Etf
0.79 | XLU | Utilities Select Sector | PairCorr |
0.85 | VPU | Vanguard Utilities Index | PairCorr |
0.85 | FUTY | Fidelity MSCI Utilities | PairCorr |
0.87 | IDU | iShares Utilities ETF | PairCorr |
0.98 | FXU | First Trust Utilities | PairCorr |
0.86 | GDXU | MicroSectors Gold Miners | PairCorr |
0.62 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
Moving against IShares Etf
0.62 | NAIL | Direxion Daily Homeb | PairCorr |
0.56 | USD | ProShares Ultra Semi | PairCorr |
0.56 | GBTC | Grayscale Bitcoin Trust | PairCorr |
0.55 | TECL | Direxion Daily Technology | PairCorr |
0.5 | FNGO | MicroSectors FANG Index | PairCorr |
0.41 | FNGU | MicroSectors FANG Index Symbol Change | PairCorr |
0.4 | SPXL | Direxion Daily SP500 | PairCorr |
0.34 | UPRO | ProShares UltraPro SP500 | PairCorr |
0.45 | DIS | Walt Disney | PairCorr |
0.43 | MSFT | Microsoft Aggressive Push | PairCorr |
0.42 | CAT | Caterpillar | PairCorr |
0.4 | BAC | Bank of America Aggressive Push | PairCorr |
0.4 | MRK | Merck Company | PairCorr |
0.39 | HPQ | HP Inc | PairCorr |
0.31 | AA | Alcoa Corp | PairCorr |
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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
KXI | 0.60 | 0.04 | 0.11 | 1.53 | 0.65 | 1.28 | 3.98 | |||
EXI | 0.75 | 0.06 | 0.11 | (2.39) | 0.86 | 1.30 | 4.91 | |||
RXI | 0.89 | (0.06) | 0.00 | 0.46 | 0.00 | 1.79 | 5.31 | |||
MXI | 0.72 | 0.09 | 0.16 | (0.61) | 0.68 | 1.61 | 5.62 | |||
IXP | 0.77 | 0.01 | 0.05 | (0.48) | 0.93 | 1.32 | 4.90 |