IShares Core Correlations

HDV Etf

USD 113.60 2.17 1.95%

The current 90-days correlation between iShares Core High and iShares Core Dividend is 0.88 (i.e., Very poor diversification). The correlation of IShares Core 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 Core Correlation With Market

Poor diversification

The correlation between iShares Core High and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Core High and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IShares Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iShares Core High. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with IShares Etf

0.7	DVY	iShares Select Dividend	Pair Corr
0.73	FVD	First Trust Value	Pair Corr
0.75	NOBL	ProShares SP 500	Pair Corr
0.82	INTL	Main International ETF Low Volatility	Pair Corr
0.66	EMC	Global X Funds	Pair Corr
0.73	CVX	Chevron Corp	Pair Corr
0.67	DD	Dupont De Nemours	Pair Corr
0.64	TRV	The Travelers Companies	Pair Corr
0.67	CSCO	Cisco Systems	Pair Corr
0.66	MMM	3M Company	Pair Corr
0.79	JNJ	Johnson Johnson	Pair Corr

Moving against IShares Etf

0.51	VXX	iPath Series B Low Volatility	Pair Corr
0.49	HUM	Humana Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	DGRO	SPYD	DVY	SDY	VYM
DGRO		0.92	0.97	0.86	0.92	DGRO
SPYD	0.92		0.98	0.97	0.87	SPYD
DVY	0.97	0.98		0.92	0.9	DVY
SDY	0.86	0.97	0.92		0.79	SDY
VYM	0.92	0.87	0.9	0.79		VYM
	DGRO	SPYD	DVY	SDY	VYM

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IShares Core Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Core 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 Core'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
DGRO	0.93	0.03	(0.10)	1.42	(1.73)	9.33
SPYD	0.96	0.04	(0.09)	1.50	(2.17)	8.22
DVY	0.97	0.05	(0.09)	1.71	(2.71)	9.07
SDY	0.95	0.07	(0.04)	1.62	(1.77)	7.22
VYM	0.94	(0.14)	1.33	1.42	(2.04)	9.74

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