IShares Global Correlations

WOOD Etf  USD 72.27  1.44  1.95%   
The current 90-days correlation between iShares Global Timber and Direxion Daily Gold is 0.37 (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.

IShares Global Correlation With Market

Very weak diversification

The correlation between iShares Global Timber 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 Global Timber and DJI in the same portfolio, assuming nothing else is changed.
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in iShares Global Timber. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with IShares Etf

  0.83XLB Materials Select SectorPairCorr
  0.83VAW Vanguard Materials IndexPairCorr
  0.62XME SPDR SP MetalsPairCorr
  0.84PHO Invesco Water ResourcesPairCorr
  0.79MOO VanEck Agribusiness ETFPairCorr
  0.74FXZ First Trust MaterialsPairCorr
  0.85FIW First Trust WaterPairCorr
  0.74IYM iShares Basic MaterialsPairCorr
  0.79BTCL T Rex 2XPairCorr
  0.79BITU ProShares TrustPairCorr
  0.79BTFX Valkyrie Bitcoin FuturesPairCorr
  0.79BITX Volatility Shares TrustPairCorr
  0.68MSTY YieldMax MSTR Option Downward RallyPairCorr
  0.7DFEN Direxion Daily AerospacePairCorr
  0.73NFLX Netflix Downward RallyPairCorr
  0.76KGRN KraneShares MSCI ChinaPairCorr
  0.68KWEB KraneShares CSI China Aggressive PushPairCorr
  0.79QTOC Innovator ETFs TrustPairCorr
  0.7MYMF SPDR SSGA My2026PairCorr
  0.84PFUT Putnam Sustainable FuturePairCorr
  0.78SRLN SPDR Blackstone SeniorPairCorr
  0.64VBF Invesco Van KampenPairCorr
  0.79BUFD FT Cboe VestPairCorr
  0.78CGGO Capital Group GlobalPairCorr

Moving against IShares Etf

  0.72WTID UBS ETRACSPairCorr

Related Correlations Analysis

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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   
GDXNUGT
NRESNANR
CUTWOOD
FXZFMAT
FXZNANR
FMATNRES
  
High negative correlations   
GDXDUST
NUGTDUST
NANRDUST
NRESDUST
FXZDUST
FMATDUST

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.