IShares TecDAX Correlations

Etfs . Switzerland . 
Etf . iShares TecDAX UCITS
TDXPEX Etf  EUR 32.74  0.28  0.85%   
The current 90-days correlation between iShares TecDAX UCITS and iShares Corp Bond is -0.18 (i.e., Good diversification). The correlation of IShares TecDAX 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 TecDAX Correlation With Market

Weak diversification

The correlation between iShares TecDAX UCITS and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares TecDAX UCITS and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to IShares TecDAX could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IShares TecDAX when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back IShares TecDAX - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling iShares TecDAX UCITS to buy it.

Moving together with IShares Etf

  0.75EIMI iShares Core MSCIPairCorr
  0.98MSE Lyxor UCITS StoxxPairCorr
  0.77IEAC iShares Core CorpPairCorr
  0.84IEMB iShares JP MorganPairCorr
  0.84RGRTU Raiffeisen ETF SolidPairCorr
  0.82SAJP iShares MSCI JapanPairCorr
  0.84RGLDOH Raiffeisen ETF SolidPairCorr
  0.65UST1F UBSFund SolutionsPairCorr
  0.84CHSPI iShares Core SPIPairCorr
  0.84CSWCHF Amundi Index SolutionsPairCorr
  0.83SPICHA UBS ETF SPIPairCorr
  0.85ZGLDHG ZKB Gold ETFPairCorr
  0.82ZSILHE ZKB Silver ETFPairCorr
  0.84RGLDSH Raiffeisen ETF SolidPairCorr
  0.85ZGLDHE ZKB Gold ETFPairCorr
  0.84LYHLT Multi Units LuxembourgPairCorr
  0.83XSMI Xtrackers SwitzerlandPairCorr
  0.7XGBU Xtrackers USD CorporatePairCorr
  0.89SMCX SPDR MSCI EuropePairCorr
  0.7DCCHAS UBS Fund SolutionsPairCorr
  0.88100GBA UBSFund Solutions FTSEPairCorr
  0.63CBUS5H UBSFund SolutionsPairCorr
  0.74CBUS5 UBSFund SolutionsPairCorr
  0.82LYLVD MULTI UNITS LUXEMBOURGPairCorr
  0.91JREE JPMorgan ETFs ICAVPairCorr
  0.86IUHC iShares SP 500PairCorr
  0.94STTX SPDR MSCI EuropePairCorr
  0.86SXLV SPDR SP HealthPairCorr
  0.69SGPDU UBSFund Solutions MSCIPairCorr
  0.84ZGLDHC ZKB Gold ETFPairCorr
  0.8SHEME UBSFund SolutionsPairCorr

Moving against IShares Etf

  0.35CSNKY iShares VII PLCPairCorr
  0.55FSMF Fidelity SustainablePairCorr

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   
JPM
+ 0.89
META
CRM
+ 0.88
MSFT
T
+ 0.8
UBER
CRM
+ 0.72
A
UBER
+ 0.69
META
MRK
+ 0.66
F
  
High negative correlations   
MRK
- 0.86
UBER
MRK
- 0.78
META
T
- 0.75
MSFT
MRK
- 0.7
T
MRK
- 0.67
JPM
CRM
- 0.65
T

IShares TecDAX Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares TecDAX 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 TecDAX'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.59  0.08  0.00 (0.03) 0.00 
 0.00 
 2.57 
(3.59)
 8.90 
MSFT  1.10 (0.12) 0.00 (0.30) 0.00 
 0.00 
 2.58 
(2.14)
 10.31 
UBER  1.92  0.20  0.10  0.28  2.38 
(2.01)
 4.72 
(3.30)
 12.75 
F  1.42  0.05  0.00 (0.06) 0.00 
 0.00 
 2.71 
(2.89)
 10.14 
T  1.07  0.24  0.16  0.33  1.64 
(1.12)
 1.90 
(2.12)
 11.66 
A  1.16 (0.12) 0.00 (0.23) 0.00 
 0.00 
 2.92 
(2.59)
 9.03 
CRM  1.45 (0.26) 0.00 (0.35) 0.00 
 0.00 
 2.72 
(3.81)
 8.88 
JPM  1.10  0.04  0.00 (0.08) 0.00 
 0.00 
 1.99 
(3.35)
 6.85 
MRK  1.21 (0.12) 0.00  1.56  0.00 
 0.00 
 2.08 
(2.24)
 11.57 
XOM  1.04  0.04  0.07 (0.02) 1.37 
(1.07)
 2.55 
(2.36)
 5.89 

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Our tools can tell you how much better you can do entering a position in IShares TecDAX without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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