IShares GSCI Correlations
| COMT Etf | USD 26.90 0.02 0.07% |
The correlation of IShares GSCI 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares GSCI moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares GSCI Commodity moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Significant diversification
The correlation between iShares GSCI Commodity and NYA is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares GSCI Commodity and NYA in the same portfolio, assuming nothing else is changed.
IShares |
The ability to find closely correlated positions to IShares GSCI 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 GSCI 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 GSCI - 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 GSCI Commodity to buy it.
Moving together with IShares Etf
| 0.99 | PDBC | Invesco Optimum Yield | PairCorr |
| 0.99 | FTGC | First Trust Global | PairCorr |
| 0.98 | DBC | Invesco DB Commodity | PairCorr |
| 0.99 | GSG | iShares SP GSCI | PairCorr |
| 0.97 | DJP | iPath Bloomberg Commodity | PairCorr |
| 0.97 | BCI | abrdn Bloomberg All | PairCorr |
| 0.96 | CMDY | iShares Bloomberg Roll | PairCorr |
| 0.97 | COMB | GraniteShares Bloomberg | PairCorr |
| 0.97 | GCC | WisdomTree Continuous | PairCorr |
| 0.96 | NRGU | MicroSectors Big Oil | PairCorr |
| 0.97 | DIG | ProShares Ultra Oil | PairCorr |
| 0.95 | PXE | Invesco Dynamic Energy | PairCorr |
| 0.8 | YCS | ProShares UltraShort Yen | PairCorr |
| 0.72 | SGG | Barclays Capital | PairCorr |
| 0.95 | GUSH | Direxion Daily SP | PairCorr |
| 0.97 | IEO | iShares Oil Gas | PairCorr |
| 0.7 | MLPR | ETRACS Quarterly Pay | PairCorr |
Moving against IShares Etf
| 0.91 | MCD | McDonalds Financial Report 25th of July 2024 | PairCorr |
Related Correlations Analysis
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IShares GSCI Constituents Risk-Adjusted Indicators
There is a big difference between IShares Etf performing well and IShares GSCI 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 GSCI'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PDBC | 0.52 | 0.04 | (0.03) | 0.97 | 0.75 | 0.95 | 2.80 | |||
| FTGC | 0.48 | 0.04 | (0.04) | 0.37 | 0.59 | 0.90 | 2.88 | |||
| ESGE | 0.65 | 0.06 | 0.06 | 0.12 | 0.70 | 1.39 | 4.63 | |||
| FALN | 0.24 | (0.02) | (0.16) | 0.01 | 0.35 | 0.46 | 1.37 | |||
| CMDY | 0.42 | 0.05 | (0.01) | 0.37 | 0.43 | 0.86 | 2.87 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in IShares GSCI 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.Did you try this?
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Already Invested in iShares GSCI Commodity?
The danger of trading iShares GSCI Commodity is mainly related to its market volatility and ETF specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of IShares GSCI is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than IShares GSCI. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile iShares GSCI Commodity is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether iShares GSCI Commodity is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if IShares Etf is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Ishares Gsci Commodity Etf. Highlighted below are key reports to facilitate an investment decision about Ishares Gsci Commodity Etf: Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in iShares GSCI Commodity. Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in population. You can also try the Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
The market value of iShares GSCI Commodity is measured differently than its book value, which is the value of IShares that is recorded on the company's balance sheet. Investors also form their own opinion of IShares GSCI's value that differs from its market value or its book value, called intrinsic value, which is IShares GSCI's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because IShares GSCI's market value can be influenced by many factors that don't directly affect IShares GSCI's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between IShares GSCI's value and its price as these two are different measures arrived at by different means. Investors typically determine if IShares GSCI is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, IShares GSCI's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.