IShares Global Correlations

CYH Etf  CAD 23.03  0.04  0.17%   
The current 90-days correlation between iShares Global Monthly and iShares Global Infrastructure is 0.61 (i.e., 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 Monthly 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 Monthly and DJI is 0.53 (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 Monthly and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to IShares Global 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 Global 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 Global - 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 Global Monthly to buy it.

Moving together with IShares Etf

  0.83HAZ Global X ActivePairCorr
  0.73ZWG BMO Global HighPairCorr
  0.95XDG iShares Core MSCIPairCorr
  0.93BDIV Brompton Global DividendPairCorr
  0.95XDGH iShares Core MSCIPairCorr
  0.97TQGD TD Q GlobalPairCorr
  0.66FHE First Trust IndxxPairCorr

Moving against IShares Etf

  0.69HQD BetaPro NASDAQ 100PairCorr
  0.69HIU BetaPro SP 500PairCorr
  0.65HXD BetaPro SPTSX 60PairCorr
  0.61HED BetaPro SPTSX CappedPairCorr

Related Correlations Analysis

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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   
CEWCIF
CEWCUD
CUDCIF
CGRCIF
CEWCGR
CUDCGR
  
High negative correlations   
CLFCUD

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.

Be your own money manager

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