IShares Expanded Correlations
| IGM Etf | USD 127.19 4.13 3.36% |
The current 90-days correlation between iShares Expanded Tech and iShares Exponential Technologies is 0.88 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Expanded moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Expanded Tech moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
IShares Expanded Correlation With Market
Very weak diversification
The correlation between iShares Expanded Tech and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Expanded Tech and DJI in the same portfolio, assuming nothing else is changed.
Moving together with IShares Etf
| 0.99 | VGT | Vanguard Information | PairCorr |
| 0.99 | XLK | Technology Select Sector | PairCorr |
| 0.99 | IYW | iShares Technology ETF | PairCorr |
| 0.95 | SMH | VanEck Semiconductor ETF | PairCorr |
| 0.96 | SOXX | iShares Semiconductor ETF | PairCorr |
| 0.73 | CIBR | First Trust NASDAQ | PairCorr |
| 0.99 | FTEC | Fidelity MSCI Information | PairCorr |
| 0.66 | WSML | iShares MSCI World | PairCorr |
| 0.75 | EVUS | iShares ESG Aware | PairCorr |
| 0.88 | TSL | GraniteShares 125x Long | PairCorr |
| 0.9 | CPSL | Calamos Laddered | PairCorr |
| 0.72 | GLDX | USCF Gold Strategy | PairCorr |
| 0.64 | BAC | Bank of America | PairCorr |
| 0.82 | IBM | International Business | PairCorr |
| 0.78 | CAT | Caterpillar | PairCorr |
| 0.84 | INTC | Intel Aggressive Push | PairCorr |
| 0.7 | AXP | American Express | PairCorr |
| 0.75 | AA | Alcoa Corp | PairCorr |
Moving against IShares Etf
| 0.56 | NFLX | Netflix | PairCorr |
| 0.56 | MCD | McDonalds | PairCorr |
| 0.41 | CVX | Chevron Corp Sell-off Trend | PairCorr |
| 0.4 | HD | Home Depot | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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IShares Expanded Constituents Risk-Adjusted Indicators
There is a big difference between IShares Etf performing well and IShares Expanded 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 Expanded'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| XT | 0.81 | 0.07 | 0.07 | 0.09 | 1.02 | 1.58 | 5.14 | |||
| EMQQ | 0.87 | (0.10) | 0.00 | (0.08) | 0.00 | 1.64 | 5.97 | |||
| IGM | 0.98 | 0.11 | 0.07 | 0.11 | 1.37 | 1.88 | 5.66 | |||
| IGN | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| MKC | 1.21 | (0.07) | 0.00 | (0.70) | 0.00 | 1.99 | 6.14 | |||
| PXQ | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| QQC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| RYT | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| GAMR | 0.99 | (0.08) | 0.00 | (0.05) | 0.00 | 1.88 | 6.18 |