IShares Global Correlations

WOOD Etf

USD 76.97 0.73 0.96%

The current 90-days correlation between iShares Global Timber and First Trust Exchange Traded is 0.59 (i.e., Very 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 Timber and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Global Timber and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in iShares Global Timber. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with IShares Etf

0.81	EV	Mast Global Battery	Pair Corr
0.82	XLB	Materials Select Sector	Pair Corr
0.76	VAW	Vanguard Materials Index	Pair Corr
0.64	PHO	Invesco Water Resources	Pair Corr
0.96	MOO	VanEck Agribusiness ETF	Pair Corr
0.83	FXZ	First Trust Materials	Pair Corr
0.65	FIW	First Trust Water	Pair Corr
0.61	URNM	Sprott Uranium Miners	Pair Corr
0.81	IYM	iShares Basic Materials	Pair Corr
0.87	HART	IQ Healthy Hearts	Pair Corr
0.78	SNPD	DBX ETF Trust	Pair Corr
0.85	GREI	Goldman Sachs Future	Pair Corr
0.72	BITI	ProShares Trust	Pair Corr
0.71	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.92	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.76	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.77	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.75	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.75	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr

Moving against IShares Etf

0.73	EOS	Eaton Vance Enhanced	Pair Corr
0.35	VBK	Vanguard Small Cap	Pair Corr
0.7	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.58	DIS	Walt Disney Sell-off Trend	Pair Corr
0.55	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.5	BAC	Bank of America Aggressive Push	Pair Corr
0.39	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	MDEV	MDST	MEDX	MEDI	MGNR	MISL	DRIP	DRLL	MLPX
MDEV		-0.55	0.92	0.96	0.2	0.7	-0.23	0.44	-0.56	MDEV
MDST	-0.55		-0.75	-0.59	0.57	-0.22	-0.48	0.22	0.97	MDST
MEDX	0.92	-0.75		0.95	-0.02	0.68	-0.03	0.28	-0.73	MEDX
MEDI	0.96	-0.59	0.95		0.15	0.7	-0.18	0.39	-0.58	MEDI
MGNR	0.2	0.57	-0.02	0.15		0.39	-0.81	0.77	0.62	MGNR
MISL	0.7	-0.22	0.68	0.7	0.39		-0.45	0.59	-0.16	MISL
DRIP	-0.23	-0.48	-0.03	-0.18	-0.81	-0.45		-0.94	-0.52	DRIP
DRLL	0.44	0.22	0.28	0.39	0.77	0.59	-0.94		0.28	DRLL
MLPX	-0.56	0.97	-0.73	-0.58	0.62	-0.16	-0.52	0.28		MLPX
	MDEV	MDST	MEDX	MEDI	MGNR	MISL	DRIP	DRLL	MLPX

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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

MLPX	+ 0.97	MDST
MEDI	+ 0.96	MDEV
MEDI	+ 0.95	MEDX
MEDX	+ 0.92	MDEV
DRLL	+ 0.77	MGNR
MISL	+ 0.7	MDEV

High negative correlations

DRLL	- 0.94	DRIP
DRIP	- 0.81	MGNR
MEDX	- 0.75	MDST
MLPX	- 0.73	MEDX
MEDI	- 0.59	MDST
MLPX	- 0.58	MEDI

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
MDEV	0.56	(0.11)	0.00	(1.96)	0.00	0.00	1.14	(1.08)	4.22
MDST	0.75	0.12	0.11	0.76	0.81	(0.82)	1.84	(1.39)	5.14
MEDX	0.74	(0.20)	0.00	(1.22)	0.00	0.00	1.16	(1.86)	4.39
MEDI	0.82	(0.13)	0.00	(0.66)	0.00	0.00	1.52	(1.76)	4.57
MGNR	0.94	(0.01)	0.00	(0.04)	0.00	0.00	2.05	(1.85)	7.34
MISL	0.88	(0.06)	0.00	(0.16)	0.00	0.00	1.55	(1.68)	8.22
DRIP	2.38	(0.04)	0.00	0.10	0.00	0.00	5.54	(3.93)	18.33
DRLL	0.87	(0.05)	0.00	(0.44)	0.00	0.00	1.38	(2.66)	6.66
MLPX	0.86	0.19	0.15	0.72	0.97	(0.88)	1.93	(2.10)	6.07

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