IShares Core Correlations

XEQT Etf

CAD 39.93 0.29 0.72%

The current 90-days correlation between iShares Core Equity and iShares Core SP is 0.94 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Core moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Core Equity moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Core Correlation With Market

Very weak diversification

The correlation between iShares Core Equity and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Core Equity and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares Core could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IShares Core when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back IShares Core - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling iShares Core Equity to buy it.

Moving together with IShares Etf

0.96	XAW	iShares Core MSCI	Pair Corr
0.84	DXG	Dynamic Active Global	Pair Corr
0.96	VXC	Vanguard FTSE Global	Pair Corr
0.97	XWD	iShares MSCI World	Pair Corr
1.0	VEQT	Vanguard All Equity	Pair Corr
0.7	CGRA	CI Global Real	Pair Corr
0.7	HZU	BetaPro Silver 2x	Pair Corr
0.65	GLDX	Global X Gold	Pair Corr
0.66	ZGD	BMO Equal Weight	Pair Corr
0.68	HGGG	Harvest Global Gold	Pair Corr
0.75	HBU	BetaPro Gold Bullion	Pair Corr
0.63	DXAU	Dynamic Active Global	Pair Corr

Related Correlations Analysis

	XUS	VCN	VEQT	BNC	VGRO	ZEA	XBB	XSP	VIU	VUN
XUS		0.7	0.95	0.69	0.96	0.88	0.5	0.9	0.92	0.99	XUS
VCN	0.7		0.87	0.9	0.85	0.67	-0.01	0.73	0.71	0.71	VCN
VEQT	0.95	0.87		0.8	1.0	0.9	0.35	0.9	0.93	0.95	VEQT
BNC	0.69	0.9	0.8		0.79	0.61	0.01	0.68	0.71	0.66	BNC
VGRO	0.96	0.85	1.0	0.79		0.91	0.41	0.89	0.94	0.96	VGRO
ZEA	0.88	0.67	0.9	0.61	0.91		0.49	0.8	0.98	0.88	ZEA
XBB	0.5	-0.01	0.35	0.01	0.41	0.49		0.24	0.46	0.49	XBB
XSP	0.9	0.73	0.9	0.68	0.89	0.8	0.24		0.84	0.91	XSP
VIU	0.92	0.71	0.93	0.71	0.94	0.98	0.46	0.84		0.9	VIU
VUN	0.99	0.71	0.95	0.66	0.96	0.88	0.49	0.91	0.9		VUN
	XUS	VCN	VEQT	BNC	VGRO	ZEA	XBB	XSP	VIU	VUN

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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

VGRO	+ 1.0	VEQT
VUN	+ 0.99	XUS
VIU	+ 0.98	ZEA
VGRO	+ 0.96	XUS
VUN	+ 0.96	VGRO
VEQT	+ 0.95	XUS

High negative correlations

XBB

- 0.01

VCN

IShares Core Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Core 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 Core'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
XUS	0.54	0.02	(0.03)	0.11	0.76	(0.51)	1.24	(1.24)	3.55
VCN	0.61	0.08	0.04	0.29	0.73	(0.60)	1.27	(1.33)	3.49
VEQT	0.54	0.03	(0.01)	0.13	0.68	(0.58)	1.14	(1.09)	3.25
BNC	0.40	0.15	0.27	0.66	0.00	(0.51)	0.99	(0.53)	2.28
VGRO	0.45	0.02	(0.04)	0.12	0.54	(0.46)	0.97	(0.88)	2.57
ZEA	0.53	0.00	(0.05)	0.07	0.67	(0.55)	0.98	(1.10)	3.30
XBB	0.17	(0.02)	0.00	(0.20)	0.00	0.00	0.28	(0.32)	1.38
XSP	0.54	0.01	(0.02)	0.09	0.85	(0.50)	1.19	(1.15)	3.24
VIU	0.53	0.02	(0.03)	0.11	0.70	(0.50)	1.02	(1.10)	3.41
VUN	0.61	0.01	(0.03)	0.10	0.78	(0.64)	1.29	(1.19)	4.15

Be your own money manager

Our tools can tell you how much better you can do entering a position in IShares Core without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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