IShares Global Correlations

IXN Etf

USD 108.21 3.10 2.79%

The current 90-days correlation between iShares Global Tech and iShares MSCI World is 0.85 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Global Tech moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Global Correlation With Market

Very weak diversification

The correlation between iShares Global Tech and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Global Tech 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 Global Tech. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in consumer price index.

Moving together with IShares Etf

0.99	VGT	Vanguard Information	Pair Corr
1.0	XLK	Technology Select Sector	Pair Corr
0.99	IYW	iShares Technology ETF	Pair Corr
0.99	SMH	VanEck Semiconductor ETF	Pair Corr
0.99	SOXX	iShares Semiconductor ETF	Pair Corr
0.85	CIBR	First Trust NASDAQ	Pair Corr
0.99	FTEC	Fidelity MSCI Information	Pair Corr
0.82	IGV	iShares Expanded Tech	Pair Corr
0.61	FDN	First Trust Dow	Pair Corr
0.98	IGM	iShares Expanded Tech	Pair Corr
0.91	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.86	KCSH	KraneShares Trust	Pair Corr
0.77	HFMF	Unlimited HFMF Managed	Pair Corr
0.84	DWAS	Invesco DWA SmallCap	Pair Corr
0.87	QMOM	Alpha Architect Quan	Pair Corr
0.86	NVDY	YieldMax NVDA Option	Pair Corr
0.84	GLTR	abrdn Physical Precious	Pair Corr
0.82	BME	BlackRock Health Sciences	Pair Corr
0.96	SDTY	YieldMax SP 500	Pair Corr
0.83	VHT	Vanguard Health Care	Pair Corr
0.89	MFEM	PIMCO RAFI Dynamic	Pair Corr
0.94	ITOT	iShares Core SP	Pair Corr
0.91	AHLT	American Beacon Select	Pair Corr
0.81	EMLC	VanEck JP Morgan	Pair Corr
0.83	LFBB	Stone Ridge	Pair Corr
0.97	MKOR	Matthews International	Pair Corr
0.9	DIVO	Amplify CWP Enhanced	Pair Corr
0.9	XJUN	First Trust Exchange	Pair Corr
0.93	NVBT	AIM ETF Products	Pair Corr
0.81	EAGG	iShares ESG Aggregate	Pair Corr
0.76	IXJ	iShares Global Healthcare	Pair Corr
0.93	UDEC	Innovator SP 500	Pair Corr
0.78	RDVI	FT Cboe Vest	Pair Corr
0.77	FLGV	Franklin Liberty Treasury	Pair Corr
0.89	JUNP	PGIM Large Cap	Pair Corr
0.78	GENT	Spinnaker ETF Series	Pair Corr

Moving against IShares Etf

0.6

VIXY

ProShares VIX Short Low Volatility

Pair Corr

Related Correlations Analysis

	IJT	IBB	IJS	URTH	EWY	VOX	IOO	HEFA	HIDE	XLB
IJT		0.58	0.97	0.73	0.46	0.8	0.61	0.61	0.66	0.39	IJT
IBB	0.58		0.7	0.9	0.92	0.6	0.92	0.95	0.91	-0.39	IBB
IJS	0.97	0.7		0.83	0.59	0.85	0.74	0.72	0.77	0.25	IJS
URTH	0.73	0.9	0.83		0.9	0.8	0.98	0.93	0.91	-0.26	URTH
EWY	0.46	0.92	0.59	0.9		0.6	0.95	0.89	0.89	-0.58	EWY
VOX	0.8	0.6	0.85	0.8	0.6		0.72	0.58	0.76	0.07	VOX
IOO	0.61	0.92	0.74	0.98	0.95	0.72		0.93	0.9	-0.42	IOO
HEFA	0.61	0.95	0.72	0.93	0.89	0.58	0.93		0.87	-0.33	HEFA
HIDE	0.66	0.91	0.77	0.91	0.89	0.76	0.9	0.87		-0.31	HIDE
XLB	0.39	-0.39	0.25	-0.26	-0.58	0.07	-0.42	-0.33	-0.31		XLB
	IJT	IBB	IJS	URTH	EWY	VOX	IOO	HEFA	HIDE	XLB

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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

IOO	+ 0.98	URTH
IJS	+ 0.97	IJT
HEFA	+ 0.95	IBB
IOO	+ 0.95	EWY
HEFA	+ 0.93	URTH
HEFA	+ 0.93	IOO

High negative correlations

XLB	- 0.58	EWY
XLB	- 0.42	IOO
XLB	- 0.39	IBB
XLB	- 0.33	HEFA
XLB	- 0.31	HIDE
XLB	- 0.26	URTH

IShares Global Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Global 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 Global'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
IJT	0.77	(0.08)	(0.04)	0.03	0.87	(0.83)	2.06	(1.32)	6.26
IBB	0.83	0.13	0.12	0.22	0.74	(0.89)	1.97	(1.60)	4.30
IJS	0.87	(0.02)	0.04	0.08	0.84	(0.99)	2.31	(1.29)	7.81
URTH	0.46	0.02	0.00	0.11	0.55	(0.49)	1.07	(0.76)	3.94
EWY	1.31	0.34	0.21	0.43	1.27	(1.48)	3.18	(1.90)	6.46
VOX	0.66	(0.03)	(0.03)	0.06	0.82	(0.69)	1.73	(1.10)	4.48
IOO	0.55	0.09	0.10	0.19	0.60	(0.63)	1.08	(0.75)	4.22
HEFA	0.40	0.06	0.04	0.18	0.41	(0.45)	0.89	(0.68)	3.50
HIDE	0.13	0.01	(0.34)	0.28	0.00	(0.15)	0.26	(0.35)	1.11
XLB	0.69	(0.14)	0.00	(0.05)	0.00	0.00	1.59	(1.37)	4.15

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