IShares Short Correlations

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The current 90-days correlation between iShares Short Term and SPDR Nuveen Bloomberg is 0.77 (i.e., Poor diversification). The correlation of IShares Short 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 Short Correlation With Market

Average diversification

The correlation between iShares Short Term National and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Short Term National and DJI in the same portfolio, assuming nothing else is changed.

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Check out World Market Map to better understand how to build diversified portfolios, which includes a position in iShares Short Term National. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with IShares Etf

1.0	SHM	SPDR Nuveen Bloomberg	Pair Corr
0.99	JMST	JPMorgan Ultra Short	Pair Corr
1.0	MEAR	iShares Short Maturity	Pair Corr
0.99	FSMB	First Trust Short	Pair Corr
0.98	SMB	VanEck Short Muni	Pair Corr
0.99	FUMB	First Trust Ultra	Pair Corr
0.63	PVI	Invesco VRDO Tax	Pair Corr
0.99	TAFI	Ab Tax Aware	Pair Corr
0.7	AMPD	Tidal ETF Services	Pair Corr
0.75	PMBS	PIMCO Mortgage Backed	Pair Corr
0.96	ITDD	iShares Trust	Pair Corr
0.96	BUFD	FT Cboe Vest	Pair Corr
0.98	CVSB	Morgan Stanley Etf	Pair Corr
0.98	CPSD	Calamos ETF Trust	Pair Corr
0.78	EUSB	iShares Trust	Pair Corr
0.93	DFAS	Dimensional Small Cap	Pair Corr
0.97	DFEV	Dimensional ETF Trust	Pair Corr
0.96	SUPP	TCW Transform Supply	Pair Corr
0.94	VYMI	Vanguard International	Pair Corr
0.96	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.93	DCPE	DoubleLine Shiller CAPE	Pair Corr
0.95	SSUS	Day HaganNed Davis	Pair Corr
0.97	VABS	Virtus Newfleet ABSMBS	Pair Corr
0.77	CERY	SPDR Series Trust	Pair Corr
0.98	ULST	SPDR SSgA Ultra	Pair Corr
0.69	SITC	Site Centers Corp Earnings Call This Week	Pair Corr
0.81	VBF	Invesco Van Kampen	Pair Corr
0.98	IBIB	iShares Trust	Pair Corr
0.67	IBIC	iShares Trust	Pair Corr
0.96	DECW	AIM ETF Products	Pair Corr
0.94	VWO	Vanguard FTSE Emerging Sell-off Trend	Pair Corr
0.84	BBBL	BondBloxx ETF Trust	Pair Corr
0.94	QTOC	Innovator ETFs Trust	Pair Corr
0.87	PFUT	Putnam Sustainable Future	Pair Corr
0.72	KGRN	KraneShares MSCI China	Pair Corr
0.97	SRLN	SPDR Blackstone Senior	Pair Corr
0.93	VFVA	Vanguard Value Factor	Pair Corr
0.96	SEEM	SEI Select Emerging	Pair Corr
0.95	SAUG	First Trust Exchange	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.82	0.55	0.93	0.29	0.94	0.23	0.56	META
MSFT	0.98		0.87	0.85	0.52	0.89	0.29	0.96	0.24	0.55	MSFT
UBER	0.84	0.87		0.9	0.42	0.81	0.54	0.88	0.21	0.5	UBER
F	0.82	0.85	0.9		0.4	0.84	0.28	0.91	0.43	0.72	F
T	0.55	0.52	0.42	0.4		0.57	0.17	0.5	0.27	0.22	T
A	0.93	0.89	0.81	0.84	0.57		0.24	0.89	0.37	0.67	A
CRM	0.29	0.29	0.54	0.28	0.17	0.24		0.23	-0.26	-0.11	CRM
JPM	0.94	0.96	0.88	0.91	0.5	0.89	0.23		0.32	0.64	JPM
MRK	0.23	0.24	0.21	0.43	0.27	0.37	-0.26	0.32		0.55	MRK
XOM	0.56	0.55	0.5	0.72	0.22	0.67	-0.11	0.64	0.55		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

MSFT	+ 0.98	META
JPM	+ 0.96	MSFT
JPM	+ 0.94	META
A	+ 0.93	META
JPM	+ 0.91	F
F	+ 0.9	UBER

High negative correlations

MRK	- 0.26	CRM
XOM	- 0.11	CRM

IShares Short Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Short 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 Short'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
META	1.51	0.26	0.21	0.32	1.10	(1.82)	3.99	(2.35)	10.48
MSFT	0.90	0.30	0.27	0.47	0.54	(1.09)	2.33	(1.08)	8.85
UBER	1.64	0.20	0.13	0.33	1.40	(2.08)	4.19	(2.54)	10.87
F	1.32	0.14	0.06	0.32	1.47	(1.42)	2.69	(2.61)	7.46
T	1.02	(0.05)	(0.10)	0.00	1.35	(1.06)	2.35	(2.35)	5.71
A	1.46	(0.07)	0.00	0.09	1.81	(1.51)	2.54	(2.89)	14.01
CRM	1.33	(0.13)	(0.04)	0.04	1.74	(1.28)	2.95	(3.19)	9.31
JPM	0.90	0.22	0.18	0.38	0.67	(1.02)	2.25	(1.36)	6.03
MRK	1.39	(0.09)	(0.05)	0.04	1.96	(1.32)	2.88	(3.31)	10.58
XOM	1.13	0.05	(0.04)	0.41	1.36	(1.15)	2.40	(2.58)	5.84

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