IShares Trust Correlations

IRTR Etf

30.82 0.04 0.13%

The current 90-days correlation between iShares Trust and Series Portfolios Trust is 0.69 (i.e., Poor diversification). The correlation of IShares Trust 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 Trust Correlation With Market

Poor diversification

The correlation between iShares Trust and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Trust 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 Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

To learn how to invest in IShares Etf, please use our How to Invest in IShares Trust guide.

Moving together with IShares Etf

0.78	KORU	Direxion Daily South	Pair Corr
0.83	MULL	GraniteShares 2x Long	Pair Corr
0.75	SHNY	Microsectors Gold	Pair Corr
0.75	HYZD	WisdomTree Interest Rate	Pair Corr
0.91	GXUS	Goldman Sachs ETF	Pair Corr
0.85	VEA	Vanguard FTSE Developed	Pair Corr
0.66	CLOA	BlackRock AAA CLO	Pair Corr
0.93	HTUS	Capitol Series Trust	Pair Corr
0.63	VTP	Vanguard Malvern Funds	Pair Corr
0.88	PMAY	Innovator SP 500	Pair Corr
0.76	GSY	Invesco Ultra Short	Pair Corr
0.94	FFEB	FT Cboe Vest	Pair Corr
0.94	FJUN	FT Cboe Vest	Pair Corr
0.73	XHYC	BondBloxx ETF Trust	Pair Corr
0.78	QBUF	Innovator Nasdaq 100	Pair Corr
0.89	DECW	AIM ETF Products	Pair Corr
0.87	TDSB	Cabana Target Drawdown	Pair Corr
0.92	TILT	FlexShares Morningstar	Pair Corr
0.66	PSQA	Palmer Square Funds	Pair Corr
0.7	ECOW	Pacer Emerging Markets	Pair Corr
0.86	QYLD	Global X NASDAQ	Pair Corr
0.95	SCHF	Schwab International	Pair Corr
0.94	JUNT	AIM ETF Products	Pair Corr
0.93	UOCT	Innovator SP 500	Pair Corr
0.88	MMIN	IQ MacKay Municipal	Pair Corr
0.8	BSJX	Invesco BulletShares 2033	Pair Corr
0.74	FLOT	iShares Floating Rate Sell-off Trend	Pair Corr
0.82	IWMI	NEOS Russell 2000	Pair Corr
0.62	HRTS	Tema Cardiovascular and	Pair Corr
0.88	VOOV	Vanguard SP 500	Pair Corr
0.69	COMB	GraniteShares Bloomberg	Pair Corr

Related Correlations Analysis

	MDAA	MDIV	MFUL	DUKQ	DUKX	MPRO	MRSK	MSMR	MVFD
MDAA		0.0	0.79	0.65	0.39	0.07	0.42	0.18	0.26	MDAA
MDIV	0.0		-0.3	-0.14	-0.32	-0.22	-0.27	-0.49	0.22	MDIV
MFUL	0.79	-0.3		0.86	0.68	0.47	0.67	0.55	0.22	MFUL
DUKQ	0.65	-0.14	0.86		0.86	0.57	0.9	0.78	0.56	DUKQ
DUKX	0.39	-0.32	0.68	0.86		0.62	0.89	0.88	0.49	DUKX
MPRO	0.07	-0.22	0.47	0.57	0.62		0.64	0.67	0.39	MPRO
MRSK	0.42	-0.27	0.67	0.9	0.89	0.64		0.91	0.69	MRSK
MSMR	0.18	-0.49	0.55	0.78	0.88	0.67	0.91		0.54	MSMR
MVFD	0.26	0.22	0.22	0.56	0.49	0.39	0.69	0.54		MVFD
	MDAA	MDIV	MFUL	DUKQ	DUKX	MPRO	MRSK	MSMR	MVFD

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

MSMR	+ 0.91	MRSK
MRSK	+ 0.9	DUKQ
MRSK	+ 0.89	DUKX
MSMR	+ 0.88	DUKX
DUKQ	+ 0.86	MFUL
DUKX	+ 0.86	DUKQ

High negative correlations

MSMR	- 0.49	MDIV
DUKX	- 0.32	MDIV
MFUL	- 0.3	MDIV
MRSK	- 0.27	MDIV
MPRO	- 0.22	MDIV
DUKQ	- 0.14	MDIV

IShares Trust Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Trust 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 Trust'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
MDAA	0.80	(0.07)	0.00	(0.04)	0.00	0.00	2.03	(1.94)	4.38
MDIV	0.35	(0.04)	0.00	(0.07)	0.00	0.00	0.57	(0.71)	1.72
MFUL	0.17	(0.01)	(0.20)	0.01	0.22	(0.17)	0.36	(0.41)	1.22
DUKQ	0.59	(0.01)	(0.01)	0.05	0.90	(0.56)	1.35	(1.24)	3.75
DUKX	0.55	0.03	0.02	0.09	0.73	(0.57)	1.10	(1.23)	3.81
MPRO	0.31	0.01	(0.07)	0.08	0.33	(0.33)	0.71	(0.59)	2.09
MRSK	0.47	0.03	0.02	0.10	0.67	(0.46)	0.84	(0.99)	3.11
MSMR	0.60	0.06	0.06	0.13	0.70	(0.64)	1.18	(1.43)	3.96
MVFD	0.79	(0.02)	(0.01)	0.04	1.13	(0.77)	1.62	(1.50)	5.57

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