IShares Core Correlations

IXUS Etf

USD 83.20 1.06 1.26%

The current 90-days correlation between iShares Core MSCI and Schwab International Equity is 0.98 (i.e., Almost no diversification). The correlation of IShares Core 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 Core Correlation With Market

Good diversification

The correlation between iShares Core MSCI and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Core 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 Core 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 housing.

Moving together with IShares Etf

0.9	VEA	Vanguard FTSE Developed	Pair Corr
0.96	IEFA	iShares Core MSCI	Pair Corr
0.86	VEU	Vanguard FTSE All	Pair Corr
0.96	EFA	iShares MSCI EAFE	Pair Corr
0.99	SPDW	SPDR SP World	Pair Corr
0.98	IDEV	iShares Core MSCI	Pair Corr
0.98	ESGD	iShares ESG Aware	Pair Corr
0.95	JIRE	JP Morgan Exchange	Pair Corr
0.85	DFAX	Dimensional World	Pair Corr
0.88	TOAK	Manager Directed Por	Pair Corr
0.87	VTI	Vanguard Total Stock	Pair Corr
0.87	SPY	SPDR SP 500	Pair Corr
0.87	IVV	iShares Core SP	Pair Corr
0.93	IWF	iShares Russell 1000	Pair Corr
0.88	YFYA	Listed Funds Trust	Pair Corr
0.71	AXP	American Express	Pair Corr
0.82	INTC	Intel	Pair Corr
0.67	BAC	Bank of America	Pair Corr
0.71	WMT	Walmart Earnings Call This Week	Pair Corr
0.86	IBM	International Business	Pair Corr
0.86	GE	GE Aerospace	Pair Corr

Moving against IShares Etf

0.68	NFLX	Netflix	Pair Corr
0.74	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.69	BA	Boeing	Pair Corr
0.69	PG	Procter Gamble	Pair Corr
0.57	HD	Home Depot Earnings Call Today	Pair Corr
0.53	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	SCHF	IWB	IWR	EFA	QUAL	IVE	XLF	ACWI	VWUAX	TLT
SCHF		0.71	-0.07	0.81	0.69	0.76	-0.48	0.88	0.8	0.59	SCHF
IWB	0.71		0.4	0.88	0.97	0.93	-0.15	0.89	0.85	0.79	IWB
IWR	-0.07	0.4		0.34	0.48	0.31	0.66	0.13	0.18	0.32	IWR
EFA	0.81	0.88	0.34		0.88	0.91	-0.25	0.83	0.68	0.74	EFA
QUAL	0.69	0.97	0.48	0.88		0.94	-0.1	0.87	0.8	0.76	QUAL
IVE	0.76	0.93	0.31	0.91	0.94		-0.2	0.87	0.73	0.68	IVE
XLF	-0.48	-0.15	0.66	-0.25	-0.1	-0.2		-0.34	-0.23	-0.32	XLF
ACWI	0.88	0.89	0.13	0.83	0.87	0.87	-0.34		0.92	0.73	ACWI
VWUAX	0.8	0.85	0.18	0.68	0.8	0.73	-0.23	0.92		0.68	VWUAX
TLT	0.59	0.79	0.32	0.74	0.76	0.68	-0.32	0.73	0.68		TLT
	SCHF	IWB	IWR	EFA	QUAL	IVE	XLF	ACWI	VWUAX	TLT

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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

QUAL	+ 0.97	IWB
IVE	+ 0.94	QUAL
IVE	+ 0.93	IWB
VWUAX	+ 0.92	ACWI
IVE	+ 0.91	EFA
ACWI	+ 0.89	IWB

High negative correlations

XLF	- 0.48	SCHF
ACWI	- 0.34	XLF
TLT	- 0.32	XLF
XLF	- 0.25	EFA
VWUAX	- 0.23	XLF
XLF	- 0.2	IVE

IShares Core Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Core 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 Core'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
SCHF	0.57	0.05	0.00	(0.64)	0.70	(0.57)	1.00	(1.26)	3.46
IWB	0.52	0.06	0.01	(0.61)	0.76	(0.51)	1.17	(1.08)	4.28
IWR	0.61	(0.02)	0.00	0.17	0.00	0.00	1.15	(1.20)	4.81
EFA	0.55	0.03	(0.03)	(0.40)	0.68	(0.56)	1.00	(1.07)	3.34
QUAL	0.51	0.04	(0.02)	(0.73)	0.67	(0.52)	1.11	(1.03)	3.94
IVE	0.45	0.04	(0.01)	(1.73)	0.56	(0.46)	0.88	(0.92)	3.63
XLF	0.63	(0.03)	0.00	0.44	0.00	0.00	1.10	(1.82)	4.42
ACWI	0.52	0.02	0.02	0.07	0.75	(0.49)	1.05	(1.07)	4.26
VWUAX	0.76	(0.01)	0.00	0.04	1.07	(0.77)	1.65	(1.84)	5.14
TLT	0.47	0.05	0.01	1.66	0.43	(0.55)	1.09	(0.82)	2.70

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