IShares Global Correlations

Etfs . USA . 
Etf . iShares Global Comm
IXP Etf  USD 120.72  0.73  0.60%   
The current 90-days correlation between iShares Global Comm and iShares MSCI South is 0.33 (i.e., Weak diversification). The correlation of IShares Global 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 Global Correlation With Market

Good diversification

The correlation between iShares Global Comm and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Global Comm 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 Global Comm. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in consumer price index.

Moving together with IShares Etf

  0.88XLC Communication ServicesPairCorr
  0.89VOX Vanguard CommunicationPairCorr
  0.88FCOM Fidelity MSCI Commun Potential GrowthPairCorr
  0.66IYZ IShares TelecommunicatioPairCorr
  0.77SOCL Global X SocialPairCorr
  0.71GAMR Amplify Video GamePairCorr
  0.65BND Vanguard Total BondPairCorr
  0.61VTV Vanguard Value Index Sell-off TrendPairCorr
  0.66VO Vanguard Mid CapPairCorr
  0.72VB Vanguard Small CapPairCorr
  0.75KCSH KraneShares TrustPairCorr
  0.64MAVF EA Series TrustPairCorr
  0.83GBLD Invesco MSCI GreenPairCorr
  0.68AXSAX Axonic Strategic IncomePairCorr
  0.68PMMF BlackRock ETF TrustPairCorr
  0.64XJUN First Trust ExchangePairCorr
  0.68WEEK WEEKPairCorr
  0.89GAEM Simplify Exchange TradedPairCorr
  0.65UNOV Innovator SP 500PairCorr
  0.78JNK SPDR Bloomberg HighPairCorr
  0.68EMLC VanEck JP MorganPairCorr
  0.62ETHO Amplify Etho ClimatePairCorr
  0.75HFMF Unlimited HFMF ManagedPairCorr

Related Correlations Analysis


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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DNL  0.65  0.08  0.00 (3.88) 0.77 
(0.65)
 1.34 
(1.13)
 4.13 
CXSE  1.25  0.22  0.05 (0.63) 1.73 
(1.23)
 2.90 
(2.13)
 9.99 
ISCF  0.51 (0.07)(0.12)(0.01) 0.72 
(0.50)
 1.01 
(0.98)
 4.02 
EZA  1.28  0.20  0.08  4.18  1.40 
(1.45)
 3.10 
(2.67)
 8.69 
JKL  0.78  0.10  0.00 (0.58) 0.80 
(1.01)
 2.13 
(1.13)
 7.08 
ROUS  0.46  0.11  0.02 (0.75) 0.43 
(0.51)
 1.19 
(0.70)
 3.57 
EQL  0.40 (0.03)(0.08) 0.05  0.47 
(0.41)
 1.02 
(0.66)
 3.28 
FLCA  0.57  0.09  0.01 (1.17) 0.62 
(0.58)
 1.21 
(1.31)
 3.70 
DTH  0.47 (0.01)(0.08) 0.06  0.53 
(0.50)
 0.86 
(0.86)
 2.86 
IDHQ  0.62  0.10  0.02 (2.45) 0.61 
(0.66)
 1.12 
(1.16)
 2.63 

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