IShares Short Correlations

SUB Etf

USD 105.48 0.07 0.07%

The current 90-days correlation between iShares Short Term and iShares New York is 0.65 (i.e., Poor diversification). The correlation of IShares Short 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 Short Correlation With Market

Average diversification

The correlation between iShares Short Term National and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Short Term National and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in iShares Short Term National. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with IShares Etf

0.86	SHM	SPDR Nuveen Bloomberg	Pair Corr
0.84	JMST	JPMorgan Ultra Short	Pair Corr
0.92	DFNM	Dimensional ETF Trust	Pair Corr
0.9	MEAR	iShares Short Maturity	Pair Corr
0.83	FSMB	First Trust Short	Pair Corr
0.94	SMB	VanEck Short Muni	Pair Corr
0.62	PVI	Invesco VRDO Tax	Pair Corr
0.92	TAFI	Ab Tax Aware	Pair Corr
0.86	FXY	Invesco CurrencyShares	Pair Corr
0.81	PMBS	PIMCO Mortgage Backed	Pair Corr
0.7	GDXU	MicroSectors Gold Miners	Pair Corr
0.77	KO	Coca Cola Aggressive Push	Pair Corr
0.74	VZ	Verizon Communications	Pair Corr
0.75	MCD	McDonalds	Pair Corr
0.85	IBM	International Business	Pair Corr
0.68	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.75	PG	Procter Gamble	Pair Corr
0.83	T	ATT Inc Aggressive Push	Pair Corr
0.68	GE	GE Aerospace	Pair Corr
0.62	MMM	3M Company	Pair Corr

Moving against IShares Etf

0.77	AMPD	Tidal Trust II	Pair Corr
0.62	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.59	CAT	Caterpillar	Pair Corr
0.67	MRK	Merck Company	Pair Corr
0.64	AA	Alcoa Corp	Pair Corr
0.62	MSFT	Microsoft	Pair Corr
0.31	AXP	American Express	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.02	0.56	-0.5	0.23	0.5	0.49	0.9	-0.71	-0.07	META
MSFT	0.02		-0.59	-0.04	-0.83	0.57	0.62	0.21	0.41	-0.57	MSFT
UBER	0.56	-0.59		-0.31	0.78	-0.12	-0.21	0.48	-0.84	0.55	UBER
F	-0.5	-0.04	-0.31		0.06	-0.09	-0.15	-0.35	0.4	0.38	F
T	0.23	-0.83	0.78	0.06		-0.5	-0.53	0.07	-0.63	0.59	T
A	0.5	0.57	-0.12	-0.09	-0.5		0.88	0.68	0.05	-0.26	A
CRM	0.49	0.62	-0.21	-0.15	-0.53	0.88		0.62	0.05	-0.38	CRM
JPM	0.9	0.21	0.48	-0.35	0.07	0.68	0.62		-0.6	0.03	JPM
MRK	-0.71	0.41	-0.84	0.4	-0.63	0.05	0.05	-0.6		-0.36	MRK
XOM	-0.07	-0.57	0.55	0.38	0.59	-0.26	-0.38	0.03	-0.36		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.9	META
CRM	+ 0.88	A
T	+ 0.78	UBER
JPM	+ 0.68	A
CRM	+ 0.62	MSFT
JPM	+ 0.62	CRM

High negative correlations

MRK	- 0.84	UBER
T	- 0.83	MSFT
MRK	- 0.71	META
MRK	- 0.63	T
MRK	- 0.6	JPM
UBER	- 0.59	MSFT

IShares Short Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Short 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 Short'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
META	1.61	0.05	0.02	0.04	2.24	(1.45)	2.96	(3.73)	8.90
MSFT	1.07	(0.17)	0.00	(0.20)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.92	0.31	0.14	0.48	2.11	(2.12)	4.72	(3.13)	12.75
F	1.44	0.11	0.05	(0.36)	2.16	(1.40)	2.71	(2.88)	10.14
T	0.99	0.29	0.17	(24.36)	1.45	(1.12)	1.90	(1.55)	11.66
A	1.17	(0.20)	0.00	(0.20)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.43	(0.31)	0.00	(0.28)	0.00	0.00	2.72	(3.53)	8.88
JPM	1.09	0.14	0.08	0.11	1.55	(1.09)	2.16	(1.98)	6.85
MRK	1.22	(0.15)	0.00	1.32	0.00	0.00	2.07	(2.25)	11.58
XOM	1.02	0.17	0.12	0.40	1.24	(1.06)	2.55	(2.36)	5.89

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