IShares MSCI Correlations

EZU Etf

USD 60.78 0.70 1.17%

The current 90-days correlation between iShares MSCI Eurozone and iShares Core MSCI is 0.97 (i.e., Almost no diversification). The correlation of IShares MSCI 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. If the correlation is 0, the equities are not correlated; they are entirely random.

IShares MSCI Correlation With Market

Poor diversification

The correlation between iShares MSCI Eurozone and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares MSCI Eurozone and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IShares Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in iShares MSCI Eurozone. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with IShares Etf

0.97	VGK	Vanguard FTSE Europe	Pair Corr
0.98	BBEU	JPMorgan BetaBuilders	Pair Corr
0.98	IEUR	iShares Core MSCI	Pair Corr
0.99	FEZ	SPDR EURO STOXX	Pair Corr
0.98	IEV	iShares Europe ETF	Pair Corr
0.88	HEDJ	WisdomTree Europe Hedged	Pair Corr
0.88	DBEU	Xtrackers MSCI Europe	Pair Corr
0.88	HEZU	iShares Currency Hedged	Pair Corr
0.73	SIXD	AIM ETF Products	Pair Corr
0.82	NVBU	AllianzIM Equity Buffer15	Pair Corr
0.84	ESGE	iShares ESG Aware	Pair Corr
0.65	HYG	iShares iBoxx High	Pair Corr
0.73	TAXT	Northern Trust Tax	Pair Corr
0.78	GOP	Unusual Whales Subversive Symbol Change	Pair Corr
0.88	EQTYX	WisdomTree Siegel Global	Pair Corr
0.7	MUNC	Northern Funds	Pair Corr
0.78	TSLP	Kurv Yield Premium	Pair Corr
0.71	SGDJ	Sprott Junior Gold	Pair Corr
0.84	NMAY	Innovator Growth 100	Pair Corr
0.79	RFDA	RiverFront Dynamic	Pair Corr
0.79	IGM	iShares Expanded Tech	Pair Corr
0.8	IXSRF	IXSRF	Pair Corr
0.84	VGT	Vanguard Information	Pair Corr
0.67	SLV	iShares Silver Trust	Pair Corr
0.81	VOO	Vanguard SP 500	Pair Corr
0.84	IXN	iShares Global Tech	Pair Corr
0.8	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.63	CNXT	VanEck ChiNext ETF	Pair Corr
0.67	CEMB	iShares JP Morgan	Pair Corr
0.66	AGMI	Themes Silver Miners	Pair Corr

Moving against IShares Etf

0.46	VIXY	ProShares VIX Short Downward Rally	Pair Corr
0.33	VXX	iPath Series B Downward Rally	Pair Corr

Related Correlations Analysis

	IEUR	EFG	DFAX	AVDE	ESGD	VTSIX	IJK	VIAAX	INDA	VUIAX
IEUR		0.92	0.9	0.95	0.97	0.49	0.16	0.79	0.49	0.76	IEUR
EFG	0.92		0.86	0.89	0.94	0.66	0.38	0.81	0.39	0.71	EFG
DFAX	0.9	0.86		0.98	0.96	0.43	0.17	0.64	0.58	0.7	DFAX
AVDE	0.95	0.89	0.98		0.98	0.48	0.18	0.72	0.51	0.7	AVDE
ESGD	0.97	0.94	0.96	0.98		0.54	0.23	0.77	0.52	0.71	ESGD
VTSIX	0.49	0.66	0.43	0.48	0.54		0.68	0.7	-0.06	0.12	VTSIX
IJK	0.16	0.38	0.17	0.18	0.23	0.68		0.31	-0.16	-0.08	IJK
VIAAX	0.79	0.81	0.64	0.72	0.77	0.7	0.31		0.29	0.39	VIAAX
INDA	0.49	0.39	0.58	0.51	0.52	-0.06	-0.16	0.29		0.49	INDA
VUIAX	0.76	0.71	0.7	0.7	0.71	0.12	-0.08	0.39	0.49		VUIAX
	IEUR	EFG	DFAX	AVDE	ESGD	VTSIX	IJK	VIAAX	INDA	VUIAX

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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

AVDE	+ 0.98	DFAX
ESGD	+ 0.98	AVDE
ESGD	+ 0.97	IEUR
ESGD	+ 0.96	DFAX
AVDE	+ 0.95	IEUR
ESGD	+ 0.94	EFG

High negative correlations

INDA	- 0.16	IJK
VUIAX	- 0.08	IJK
INDA	- 0.06	VTSIX

IShares MSCI Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares MSCI 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 MSCI'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
IEUR	0.61	(0.03)	(0.06)	0.00	0.73	(0.62)	1.17	(1.19)	2.91
EFG	0.71	(0.05)	(0.05)	(0.01)	0.94	(0.67)	1.18	(1.41)	3.85
DFAX	0.56	0.00	(0.01)	0.04	0.71	(0.57)	1.00	(1.15)	4.00
AVDE	0.57	(0.01)	(0.03)	0.03	0.72	(0.55)	1.12	(1.20)	3.42
ESGD	0.60	(0.03)	(0.04)	0.01	0.78	(0.60)	1.10	(1.33)	3.45
VTSIX	0.89	(0.04)	(0.02)	0.02	1.05	(1.01)	2.09	(1.72)	6.96
IJK	0.76	(0.01)	0.00	0.06	0.00	0.00	1.74	(1.72)	4.57
VIAAX	0.63	(0.04)	(0.05)	0.00	0.88	(0.57)	1.11	(1.35)	3.58
INDA	0.52	0.01	(0.05)	0.17	0.57	(0.55)	0.85	(0.96)	3.11
VUIAX	0.59	0.04	0.01	0.14	0.67	(0.62)	1.38	(1.15)	3.32

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