IShares Global Correlations

Etfs . USA . 
Etf . iShares Global Materials
MXI Etf  USD 83.85  0.28  0.34%   
The current 90-days correlation between iShares Global Materials and iShares Global Industrials is 0.85 (i.e., Very poor 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

Very weak diversification

The correlation between iShares Global Materials 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 Materials and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in iShares Global Materials. 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

  0.64XLB Materials Select Sector Sell-off TrendPairCorr
  0.79MOO VanEck Agribusiness ETFPairCorr
  0.84IYM iShares Basic MaterialsPairCorr
  0.74PMBS PIMCO Mortgage BackedPairCorr
  0.75YCL ProShares Ultra YenPairCorr
  0.81FXY Invesco CurrencySharesPairCorr
  0.62ULE ProShares Ultra EuroPairCorr
  0.9GDXU MicroSectors Gold MinersPairCorr
  0.83T ATT Inc Aggressive PushPairCorr
  0.66INTC Intel Sell-off TrendPairCorr
  0.77KO Coca Cola Sell-off TrendPairCorr
  0.73VZ Verizon Communications Sell-off TrendPairCorr
  0.74CSCO Cisco SystemsPairCorr
  0.87GE GE AerospacePairCorr
  0.8IBM International BusinessPairCorr

Moving against IShares Etf

  0.59URNM Sprott Uranium MinersPairCorr
  0.58MSFT Microsoft Aggressive PushPairCorr
  0.47AA Alcoa CorpPairCorr
  0.43DIS Walt DisneyPairCorr
  0.37HPQ HP IncPairCorr

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   
IXG
+ 0.85
EXI
JXI
+ 0.8
EXI
IXG
+ 0.77
JXI
IXG
+ 0.71
KXI
KXI
+ 0.66
JXI
KXI
+ 0.56
EXI
  
High negative correlations   
RXI
- 0.05
JXI
RXI
- 0.0
KXI

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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