IShares 20 Correlations

XTLT Etf

35.30 0.10 0.28%

The current 90-days correlation between iShares 20 Year and iShares Convertible Bond is 0.1 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares 20 moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares 20 Year moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares 20 Correlation With Market

Good diversification

The correlation between iShares 20 Year and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares 20 Year and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares 20 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 20 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 20 - 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 20 Year to buy it.

Moving together with IShares Etf

0.93	FLGA	Franklin Global Core	Pair Corr
0.96	FGO	CI Enhanced Government	Pair Corr
0.78	PMNT	PIMCO Global Short	Pair Corr
0.94	HTB	Global X 7	Pair Corr
0.89	MGAB	Mackenzie Global Fixed	Pair Corr
0.99	TULB	TD Long Term	Pair Corr
0.83	FHE	First Trust Indxx	Pair Corr
0.73	HBLK	Blockchain Technologies	Pair Corr

Moving against IShares Etf

0.89	HXD	BetaPro SPTSX 60	Pair Corr
0.85	HIU	BetaPro SP 500	Pair Corr
0.84	HQD	BetaPro NASDAQ 100	Pair Corr
0.78	HED	BetaPro SPTSX Capped	Pair Corr
0.53	ZID	BMO MSCI India	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.43	0.14	0.05	0.58	0.03	-0.69	0.22	-0.2	-0.18	META
MSFT	0.43		-0.32	-0.29	-0.19	-0.23	-0.52	0.04	-0.16	-0.5	MSFT
UBER	0.14	-0.32		0.79	0.46	0.55	-0.26	0.54	0.25	0.61	UBER
F	0.05	-0.29	0.79		0.4	0.75	-0.33	0.54	0.58	0.59	F
T	0.58	-0.19	0.46	0.4		0.4	-0.39	0.41	0.22	0.29	T
A	0.03	-0.23	0.55	0.75	0.4		-0.23	0.62	0.54	0.6	A
CRM	-0.69	-0.52	-0.26	-0.33	-0.39	-0.23		-0.4	-0.13	0.09	CRM
JPM	0.22	0.04	0.54	0.54	0.41	0.62	-0.4		0.1	0.6	JPM
MRK	-0.2	-0.16	0.25	0.58	0.22	0.54	-0.13	0.1		0.16	MRK
XOM	-0.18	-0.5	0.61	0.59	0.29	0.6	0.09	0.6	0.16		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

F	+ 0.79	UBER
A	+ 0.75	F
JPM	+ 0.62	A
XOM	+ 0.61	UBER
XOM	+ 0.6	A
XOM	+ 0.6	JPM

High negative correlations

CRM	- 0.69	META
CRM	- 0.52	MSFT
XOM	- 0.5	MSFT
JPM	- 0.4	CRM
CRM	- 0.39	T
CRM	- 0.33	F

IShares 20 Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares 20 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 20'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	1.23	(0.04)	(0.05)	0.00	1.35	(1.41)	2.12	(2.27)	14.28
MSFT	0.73	0.10	0.00	(0.17)	0.79	(0.78)	1.77	(1.47)	6.50
UBER	1.35	0.06	0.01	0.29	1.71	(1.40)	3.26	(2.30)	8.86
F	1.10	0.05	0.05	0.10	1.21	(1.17)	2.98	(1.83)	5.33
T	0.80	(0.09)	0.00	1.97	0.00	0.00	1.75	(2.28)	4.52
A	1.51	0.25	0.09	(0.90)	1.59	(1.60)	3.82	(2.59)	8.31
CRM	1.33	(0.23)	0.00	(0.16)	0.00	0.00	2.32	(3.30)	8.74
JPM	0.80	0.02	0.02	0.08	1.08	(0.82)	1.69	(1.51)	5.01
MRK	1.30	0.07	0.05	0.14	1.37	(1.40)	2.91	(2.57)	8.08
XOM	0.95	0.02	(0.02)	0.12	1.32	(0.89)	1.77	(2.42)	6.25

Be your own money manager

Our tools can tell you how much better you can do entering a position in IShares 20 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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