IShares Trust Correlations

IBDV Etf  USD 21.85  0.03  0.14%   
The current 90-days correlation between iShares Trust and iShares Trust is 0.97 (i.e., Almost no diversification). The correlation of IShares Trust 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.

IShares Trust Correlation With Market

Modest diversification

The correlation between iShares Trust and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Trust and DJI in the same portfolio, assuming nothing else is changed.
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iShares Trust . Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.
For more information on how to buy IShares Etf please use our How to Invest in IShares Trust guide.

Moving together with IShares Etf

  0.92BSCP Invesco BulletShares 2025PairCorr
  0.92IBDQ iShares iBonds DecPairCorr
  0.96BSCQ Invesco BulletShares 2026PairCorr
  0.96IBDR iShares iBonds DecPairCorr
  0.99IBDS iShares iBonds DecPairCorr
  0.9PMBS PIMCO Mortgage BackedPairCorr
  0.89SIXD AIM ETF ProductsPairCorr
  0.85PFFL ETRACS 2xMonthly PayPairCorr
  0.9CEFD ETRACS Monthly PayPairCorr
  0.93EUSB iShares TrustPairCorr
  0.97VABS Virtus Newfleet ABSMBSPairCorr
  0.88BUFD FT Cboe VestPairCorr
  0.81CVX Chevron CorpPairCorr
  0.73MMM 3M CompanyPairCorr
  0.82GE GE Aerospace Earnings Call This WeekPairCorr
  0.63XOM Exxon Mobil CorpPairCorr
  0.91JPM JPMorgan ChasePairCorr
  0.88BAC Bank of AmericaPairCorr
  0.74AA Alcoa CorpPairCorr
  0.89CSCO Cisco SystemsPairCorr
  0.88CAT CaterpillarPairCorr
  0.84AXP American ExpressPairCorr
  0.89PFE Pfizer IncPairCorr
  0.77DD Dupont De NemoursPairCorr

Moving against IShares Etf

  0.82VXX iPath Series BPairCorr
  0.82VIXY ProShares VIX ShortPairCorr
  0.6YCL ProShares Ultra YenPairCorr
  0.47VZ Verizon Communications Earnings Call TomorrowPairCorr
  0.45KO Coca Cola Earnings Call This WeekPairCorr

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   
MSFTMETA
JPMMSFT
JPMMETA
AMETA
JPMF
FUBER
  
High negative correlations   
MRKCRM
XOMCRM

IShares Trust Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Trust 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 Trust'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.51  0.26  0.21  0.32  1.10 
 3.99 
 10.48 
MSFT  0.90  0.30  0.27  0.47  0.54 
 2.33 
 8.85 
UBER  1.64  0.20  0.13  0.33  1.40 
 4.19 
 10.87 
F  1.32  0.14  0.06  0.32  1.47 
 2.69 
 7.46 
T  1.02 (0.05)(0.10) 0.00  1.35 
 2.35 
 5.71 
A  1.46 (0.07) 0.00  0.09  1.81 
 2.54 
 14.01 
CRM  1.33 (0.13)(0.04) 0.04  1.74 
 2.95 
 9.31 
JPM  0.90  0.22  0.18  0.38  0.67 
 2.25 
 6.03 
MRK  1.39 (0.09)(0.05) 0.04  1.96 
 2.88 
 10.58 
XOM  1.13  0.05 (0.04) 0.41  1.36 
 2.40 
 5.84