FlexShares IBoxx Correlations

TDTT Etf

USD 24.21 0.06 0.25%

The current 90-days correlation between FlexShares iBoxx 3 and FlexShares iBoxx 5 Year is 0.91 (i.e., Almost no diversification). The correlation of FlexShares IBoxx 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.

FlexShares IBoxx Correlation With Market

Very good diversification

The correlation between FlexShares iBoxx 3 Year and DJI is -0.28 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FlexShares iBoxx 3 Year and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with FlexShares Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in FlexShares iBoxx 3 Year. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with FlexShares Etf

1.0	STIP	iShares 0 5	Pair Corr
0.99	TIPX	SPDR Bloomberg 1	Pair Corr
1.0	STPZ	PIMCO 1 5	Pair Corr
0.99	PBTP	Invesco PureBeta 0	Pair Corr
0.66	USD	ProShares Ultra Semi	Pair Corr
0.64	DFEN	Direxion Daily Aerospace	Pair Corr
0.61	UPRO	ProShares UltraPro SP500	Pair Corr
0.64	TECL	Direxion Daily Technology	Pair Corr
0.61	IEMG	iShares Core MSCI	Pair Corr
0.76	LQD	iShares iBoxx Investment Sell-off Trend	Pair Corr
0.63	DISV	Dimensional ETF Trust Low Volatility	Pair Corr
0.61	SUPP	TCW Transform Supply	Pair Corr
0.61	SITC	Site Centers Corp Earnings Call This Week	Pair Corr
0.76	UFO	Procure Space ETF	Pair Corr
0.63	FXO	First Trust Financials	Pair Corr
0.74	DIAL	Columbia Diversified	Pair Corr
0.66	SPYD	SPDR Portfolio SP	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.97	0.82	0.79	0.56	0.92	0.17	0.93	0.21	0.51	META
MSFT	0.97		0.84	0.83	0.51	0.86	0.17	0.95	0.23	0.5	MSFT
UBER	0.82	0.84		0.88	0.41	0.78	0.46	0.85	0.18	0.44	UBER
F	0.79	0.83	0.88		0.42	0.8	0.16	0.89	0.43	0.68	F
T	0.56	0.51	0.41	0.42		0.63	0.11	0.46	0.35	0.27	T
A	0.92	0.86	0.78	0.8	0.63		0.15	0.86	0.36	0.63	A
CRM	0.17	0.17	0.46	0.16	0.11	0.15		0.09	-0.33	-0.21	CRM
JPM	0.93	0.95	0.85	0.89	0.46	0.86	0.09		0.32	0.59	JPM
MRK	0.21	0.23	0.18	0.43	0.35	0.36	-0.33	0.32		0.54	MRK
XOM	0.51	0.5	0.44	0.68	0.27	0.63	-0.21	0.59	0.54		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

MSFT	+ 0.97	META
JPM	+ 0.95	MSFT
JPM	+ 0.93	META
A	+ 0.92	META
JPM	+ 0.89	F
F	+ 0.88	UBER

High negative correlations

MRK	- 0.33	CRM
XOM	- 0.21	CRM

FlexShares IBoxx Competition Risk-Adjusted Indicators

There is a big difference between FlexShares Etf performing well and FlexShares IBoxx 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 FlexShares IBoxx'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
META	1.47	0.27	0.25	0.41	0.82	(1.79)	3.99	(2.00)	10.48
MSFT	0.84	0.33	0.36	0.63	0.00	(1.04)	2.33	(1.03)	8.85
UBER	1.60	0.05	0.05	0.25	1.44	(1.99)	4.19	(2.54)	10.87
F	1.29	0.10	0.04	0.33	1.40	(1.40)	2.69	(2.33)	7.46
T	1.00	(0.02)	(0.12)	0.14	1.30	(1.05)	2.35	(2.35)	5.71
A	1.53	(0.10)	0.02	0.14	1.77	(1.61)	2.82	(2.89)	14.01
CRM	1.30	(0.17)	(0.04)	0.09	1.64	(1.29)	2.95	(3.19)	9.31
JPM	0.88	0.19	0.16	0.40	0.54	(1.01)	2.25	(1.31)	6.03
MRK	1.40	(0.08)	(0.04)	0.13	1.82	(1.38)	2.90	(3.31)	10.58
XOM	1.10	(0.01)	(0.10)	0.16	1.39	(1.07)	2.18	(2.58)	6.28

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