IShares Edge Correlations

INTF Etf

USD 34.36 0.23 0.67%

The current 90-days correlation between iShares Edge MSCI and FlexShares International Quality is 0.88 (i.e., Very poor diversification). The correlation of IShares Edge 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.

IShares Edge Correlation With Market

Very weak diversification

The correlation between iShares Edge MSCI and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Edge MSCI and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IShares Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iShares Edge MSCI. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with IShares Etf

1.0	VEA	Vanguard FTSE Developed	Pair Corr
1.0	IEFA	iShares Core MSCI	Pair Corr
0.99	VEU	Vanguard FTSE All	Pair Corr
0.98	EFA	iShares MSCI EAFE	Pair Corr
0.98	IXUS	iShares Core MSCI	Pair Corr
1.0	SPDW	SPDR SP World	Pair Corr
0.98	IDEV	iShares Core MSCI	Pair Corr
1.0	ESGD	iShares ESG Aware	Pair Corr
0.97	JIRE	JP Morgan Exchange	Pair Corr
0.98	DFAX	Dimensional World	Pair Corr
0.97	ITDD	iShares Trust	Pair Corr
0.91	CAT	Caterpillar	Pair Corr
0.73	CVX	Chevron Corp	Pair Corr
0.94	DIS	Walt Disney	Pair Corr
0.82	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.65	INTC	Intel Earnings Call Tomorrow	Pair Corr
0.96	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.9	IBM	International Business Earnings Call Today	Pair Corr
0.86	PFE	Pfizer Inc	Pair Corr

Moving against IShares Etf

0.34	PG	Procter Gamble Earnings Call This Week	Pair Corr
0.6	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	IQDY	MFDX	QLV	QLVE	AVSC	JEPI	EDIV	GMAR	BASV	PCRB
IQDY		0.98	0.98	0.98	0.96	0.97	0.98	0.98	-0.27	0.63	IQDY
MFDX	0.98		0.97	0.93	0.91	0.94	0.95	0.95	-0.24	0.63	MFDX
QLV	0.98	0.97		0.96	0.96	0.98	0.97	0.97	-0.23	0.63	QLV
QLVE	0.98	0.93	0.96		0.96	0.97	0.98	0.96	-0.3	0.65	QLVE
AVSC	0.96	0.91	0.96	0.96		0.97	0.96	0.95	-0.19	0.62	AVSC
JEPI	0.97	0.94	0.98	0.97	0.97		0.97	0.96	-0.24	0.67	JEPI
EDIV	0.98	0.95	0.97	0.98	0.96	0.97		0.97	-0.22	0.57	EDIV
GMAR	0.98	0.95	0.97	0.96	0.95	0.96	0.97		-0.28	0.61	GMAR
BASV	-0.27	-0.24	-0.23	-0.3	-0.19	-0.24	-0.22	-0.28		-0.36	BASV
PCRB	0.63	0.63	0.63	0.65	0.62	0.67	0.57	0.61	-0.36		PCRB
	IQDY	MFDX	QLV	QLVE	AVSC	JEPI	EDIV	GMAR	BASV	PCRB

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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

MFDX	+ 0.98	IQDY
QLV	+ 0.98	IQDY
QLVE	+ 0.98	IQDY
EDIV	+ 0.98	IQDY
GMAR	+ 0.98	IQDY
JEPI	+ 0.98	QLV

High negative correlations

PCRB	- 0.36	BASV
BASV	- 0.3	QLVE
BASV	- 0.28	GMAR
BASV	- 0.27	IQDY
BASV	- 0.24	JEPI
BASV	- 0.24	MFDX

IShares Edge Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Edge 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 Edge'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
IQDY	0.52	0.18	0.12	0.59	0.19	(0.62)	1.33	(1.08)	3.57
MFDX	0.52	0.12	0.02	0.53	0.31	(0.59)	1.21	(0.97)	3.00
QLV	0.52	0.04	(0.04)	0.23	0.40	(0.63)	1.32	(0.74)	3.08
QLVE	0.46	0.13	0.03	0.55	0.23	(0.52)	1.30	(0.89)	2.89
AVSC	1.01	0.12	0.13	0.27	0.82	(1.17)	2.72	(1.82)	6.77
JEPI	0.39	0.04	(0.07)	0.23	0.29	(0.43)	0.99	(0.68)	2.82
EDIV	0.48	0.11	0.00	0.47	0.25	(0.58)	1.19	(1.00)	3.31
GMAR	0.31	0.11	(0.12)	(1.98)	0.25	(0.35)	0.89	(0.47)	2.22
BASV	0.45	0.11	(0.05)	1.01	0.38	(0.48)	1.24	(0.79)	2.57
PCRB	0.25	0.00	(0.48)	0.15	0.25	(0.26)	0.50	(0.50)	1.34

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