IShares Digital Correlations

IDGT Etf

89.14 1.55 1.77%

The current 90-days correlation between iShares Digital Infr and Innovator Equity 5 is 0.73 (i.e., Poor diversification). The correlation of IShares Digital 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 Digital Correlation With Market

Significant diversification

The correlation between iShares Digital Infrastructure and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Digital Infrastructure 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 Digital Infrastructure. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with IShares Etf

0.81	VGT	Vanguard Information	Pair Corr
0.75	XLK	Technology Select Sector Aggressive Push	Pair Corr
0.74	IYW	iShares Technology ETF	Pair Corr
0.77	FTEC	Fidelity MSCI Information	Pair Corr
0.67	IGM	iShares Expanded Tech	Pair Corr
0.63	HD	Home Depot	Pair Corr

Moving against IShares Etf

0.46	JNJ	Johnson Johnson	Pair Corr
0.6	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.32	MCD	McDonalds	Pair Corr
0.31	WMT	Walmart Common Stock	Pair Corr

Related Correlations Analysis

	WCBR	VEGN	AGRW	BAMG	TSMX	CHGX	HTUS	XHE	PJFG	EALT
WCBR		-0.29	0.52	-0.2	-0.48	-0.34	-0.42	-0.59	0.64	-0.36	WCBR
VEGN	-0.29		0.57	0.67	0.72	0.88	0.87	0.46	0.39	0.92	VEGN
AGRW	0.52	0.57		0.36	0.2	0.41	0.34	-0.1	0.96	0.43	AGRW
BAMG	-0.2	0.67	0.36		0.22	0.61	0.84	0.66	0.32	0.81	BAMG
TSMX	-0.48	0.72	0.2	0.22		0.79	0.48	0.15	0.03	0.56	TSMX
CHGX	-0.34	0.88	0.41	0.61	0.79		0.72	0.31	0.21	0.78	CHGX
HTUS	-0.42	0.87	0.34	0.84	0.48	0.72		0.76	0.23	0.98	HTUS
XHE	-0.59	0.46	-0.1	0.66	0.15	0.31	0.76		-0.18	0.67	XHE
PJFG	0.64	0.39	0.96	0.32	0.03	0.21	0.23	-0.18		0.3	PJFG
EALT	-0.36	0.92	0.43	0.81	0.56	0.78	0.98	0.67	0.3		EALT
	WCBR	VEGN	AGRW	BAMG	TSMX	CHGX	HTUS	XHE	PJFG	EALT

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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

EALT	+ 0.98	HTUS
PJFG	+ 0.96	AGRW
EALT	+ 0.92	VEGN
CHGX	+ 0.88	VEGN
HTUS	+ 0.87	VEGN
HTUS	+ 0.84	BAMG

High negative correlations

XHE	- 0.59	WCBR
TSMX	- 0.48	WCBR
HTUS	- 0.42	WCBR
EALT	- 0.36	WCBR
CHGX	- 0.34	WCBR
VEGN	- 0.29	WCBR

IShares Digital Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Digital 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 Digital'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
WCBR	1.11	(0.22)	0.00	(0.20)	0.00	0.00	2.03	(2.75)	5.71
VEGN	0.74	(0.03)	(0.03)	0.04	0.97	(0.75)	1.48	(1.86)	4.04
AGRW	0.71	(0.11)	0.00	(0.08)	0.00	0.00	1.13	(1.78)	4.60
BAMG	0.66	0.04	(0.02)	0.45	0.88	(0.70)	1.46	(1.63)	4.30
TSMX	3.04	0.17	0.07	0.14	3.49	(3.31)	5.96	(6.89)	18.95
CHGX	0.68	(0.02)	(0.06)	0.03	0.88	(0.69)	1.36	(1.49)	3.54
HTUS	0.46	0.03	0.00	0.11	0.52	(0.50)	0.89	(0.99)	3.54
XHE	0.95	0.03	0.03	0.10	0.83	(1.23)	2.53	(1.39)	7.06
PJFG	0.77	(0.13)	0.00	(0.11)	0.00	0.00	1.09	(1.92)	5.33
EALT	0.42	0.00	(0.04)	0.07	0.54	(0.42)	0.79	(1.04)	2.49

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