IShares Edge Correlations

IVLU Etf

USD 28.84 0.13 0.45%

The current 90-days correlation between iShares Edge MSCI and Xtrackers MSCI EAFE is 0.88 (i.e., Very poor diversification). The correlation of IShares Edge 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 Edge Correlation With Market

Poor diversification

The correlation between iShares Edge MSCI and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Edge MSCI and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with IShares Etf

0.98	EFV	iShares MSCI EAFE	Pair Corr
0.99	FNDF	Schwab Fundamental	Pair Corr
0.96	VYMI	Vanguard International	Pair Corr
0.93	IDV	iShares International	Pair Corr
0.99	DFIV	Dimensional International	Pair Corr
0.91	RODM	Hartford Multifactor	Pair Corr
0.99	PXF	Invesco FTSE RAFI	Pair Corr
0.9	HDEF	Xtrackers MSCI EAFE	Pair Corr
0.84	PID	Invesco International	Pair Corr
0.72	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.87	SIXD	AIM ETF Products	Pair Corr
0.85	CEFD	ETRACS Monthly Pay	Pair Corr
0.63	TSJA	TSJA	Pair Corr
0.64	DSJA	DSJA	Pair Corr
0.86	FXA	Invesco CurrencyShares	Pair Corr
0.85	DON	WisdomTree MidCap	Pair Corr
0.63	MCD	McDonalds Sell-off Trend	Pair Corr
0.66	VZ	Verizon Communications Earnings Call This Week	Pair Corr
0.65	IBM	International Business Earnings Call This Week	Pair Corr
0.62	DIS	Walt Disney Aggressive Push	Pair Corr
0.7	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.78	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.64	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.81	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.81	WMT	Walmart Aggressive Push	Pair Corr
0.7	TRV	The Travelers Companies Earnings Call Today	Pair Corr
0.65	GE	GE Aerospace Earnings Call This Week	Pair Corr

Moving against IShares Etf

0.65

VIIX

Pair Corr

Related Correlations Analysis

	HDEF	AAVXF	SCRYY	444859BR2	AQUI	VIASP	855244AW9	GBEI	92857WBX7
HDEF		-0.46	0.15	-0.01	0.0	0.81	0.08	-0.72	0.35	HDEF
AAVXF	-0.46		0.53	-0.24	0.0	-0.66	-0.22	0.4	-0.33	AAVXF
SCRYY	0.15	0.53		-0.49	0.0	-0.12	-0.45	-0.23	-0.35	SCRYY
444859BR2	-0.01	-0.24	-0.49		0.0	0.17	0.71	0.21	0.68	444859BR2
AQUI	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	AQUI
VIASP	0.81	-0.66	-0.12	0.17	0.0		0.19	-0.59	0.45	VIASP
855244AW9	0.08	-0.22	-0.45	0.71	0.0	0.19		0.15	0.72	855244AW9
GBEI	-0.72	0.4	-0.23	0.21	0.0	-0.59	0.15		-0.07	GBEI
92857WBX7	0.35	-0.33	-0.35	0.68	0.0	0.45	0.72	-0.07		92857WBX7
	HDEF	AAVXF	SCRYY	444859BR2	AQUI	VIASP	855244AW9	GBEI	92857WBX7

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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

VIASP	+ 0.81	HDEF
92857WBX7	+ 0.72	855244AW9
855244AW9	+ 0.71	444859BR2
92857WBX7	+ 0.68	444859BR2
SCRYY	+ 0.53	AAVXF
92857WBX7	+ 0.45	VIASP

High negative correlations

GBEI	- 0.72	HDEF
VIASP	- 0.66	AAVXF
GBEI	- 0.59	VIASP
444859BR2	- 0.49	SCRYY
AAVXF	- 0.46	HDEF
855244AW9	- 0.45	SCRYY

IShares Edge Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Edge 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 Edge'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
HDEF	0.62	0.01	(0.01)	0.08	0.77	(0.62)	1.14	(1.21)	3.56
AAVXF	0.81	(0.41)	0.00	4.01	0.00	0.00	0.00	0.00	27.06
SCRYY	2.45	(0.22)	0.00	1.77	0.00	0.00	4.41	(5.68)	21.79
444859BR2	0.79	0.01	(0.04)	0.01	1.70	(0.69)	1.50	(1.78)	10.44
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VIASP	0.97	0.11	0.04	0.70	1.24	(1.10)	2.44	(2.54)	7.43
855244AW9	0.58	0.05	(0.01)	0.43	1.07	(0.63)	0.77	(1.26)	6.79
GBEI	0.49	(0.29)	0.00	(0.62)	0.00	0.00	0.00	0.00	16.50
92857WBX7	1.66	(0.04)	0.00	0.27	0.00	0.00	3.57	(4.29)	18.67

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