IShares Core Correlations

AGG Etf

USD 98.81 0.27 0.27%

The current 90-days correlation between iShares Core Aggregate and iShares Agency Bond is 0.83 (i.e., Very poor 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.

IShares Core Correlation With Market

Good diversification

The correlation between iShares Core Aggregate and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Core Aggregate and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in iShares Core Aggregate. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with IShares Etf

1.0	BND	Vanguard Total Bond	Pair Corr
0.99	BIV	Vanguard Intermediate	Pair Corr
1.0	SPAB	SPDR Portfolio Aggregate	Pair Corr
1.0	EAGG	iShares ESG Aggregate	Pair Corr
1.0	FLCB	Franklin Templeton ETF	Pair Corr
1.0	UITB	VictoryShares USAA Core	Pair Corr
1.0	DFCF	Dimensional ETF Trust	Pair Corr
0.96	JAGG	JPMorgan BetaBuilders	Pair Corr
1.0	AGGY	WisdomTree Yield Enhanced	Pair Corr
0.72	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Moving against IShares Etf

0.87	NVDL	GraniteShares 15x Long	Pair Corr
0.87	NVDX	T Rex 2X	Pair Corr
0.87	NVDU	Direxion Daily NVDA	Pair Corr
0.8	CRPT	First Trust SkyBridge	Pair Corr
0.8	WGMI	Valkyrie Bitcoin Miners Upward Rally	Pair Corr
0.76	USD	ProShares Ultra Semi	Pair Corr
0.73	DPST	Direxion Daily Regional	Pair Corr
0.73	ITOT	iShares Core SP	Pair Corr
0.71	CONL	GraniteShares ETF Trust Upward Rally	Pair Corr
0.7	BITX	Volatility Shares Trust Upward Rally	Pair Corr
0.59	DRVN	Driven Brands Holdings	Pair Corr
0.84	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.82	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.8	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.74	IGV	iShares Expanded Tech	Pair Corr
0.73	HPQ	HP Inc	Pair Corr
0.64	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.64	DIS	Walt Disney Aggressive Push	Pair Corr
0.63	WMT	Walmart Aggressive Push	Pair Corr
0.61	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.6	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.55	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.5	T	ATT Inc Aggressive Push	Pair Corr
0.42	HD	Home Depot Sell-off Trend	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.28	0.56	0.02	0.58	0.03	0.65	0.28	-0.54	0.71	META
MSFT	0.28		0.23	0.14	0.19	-0.02	0.03	-0.13	0.11	-0.19	MSFT
UBER	0.56	0.23		-0.04	-0.02	0.27	0.01	-0.13	0.06	0.35	UBER
F	0.02	0.14	-0.04		0.14	-0.4	0.44	0.67	-0.31	0.32	F
T	0.58	0.19	-0.02	0.14		-0.51	0.77	0.56	-0.78	0.37	T
A	0.03	-0.02	0.27	-0.4	-0.51		-0.48	-0.64	0.64	-0.01	A
CRM	0.65	0.03	0.01	0.44	0.77	-0.48		0.85	-0.92	0.66	CRM
JPM	0.28	-0.13	-0.13	0.67	0.56	-0.64	0.85		-0.83	0.49	JPM
MRK	-0.54	0.11	0.06	-0.31	-0.78	0.64	-0.92	-0.83		-0.56	MRK
XOM	0.71	-0.19	0.35	0.32	0.37	-0.01	0.66	0.49	-0.56		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

JPM	+ 0.85	CRM
CRM	+ 0.77	T
XOM	+ 0.71	META
JPM	+ 0.67	F
XOM	+ 0.66	CRM
CRM	+ 0.65	META

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.78	T
JPM	- 0.64	A
XOM	- 0.56	MRK
MRK	- 0.54	META

IShares Core Competition 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
META	1.06	0.06	0.02	0.21	1.39	(1.15)	2.62	(3.15)	8.02
MSFT	0.90	(0.03)	(0.04)	0.07	1.49	(0.86)	2.09	(1.85)	8.19
UBER	1.62	(0.13)	(0.05)	0.00	2.26	(1.79)	2.69	(2.53)	20.10
F	1.43	(0.15)	(0.04)	0.02	2.24	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.12	(9.48)	0.86	(1.06)	2.56	(1.72)	6.47
A	1.14	(0.13)	0.00	(0.12)	0.00	0.00	2.29	(2.42)	9.02
CRM	1.29	0.26	0.22	0.36	0.91	(1.53)	3.18	(1.91)	9.09
JPM	1.12	(0.01)	0.06	0.12	1.42	(1.19)	2.05	(2.00)	15.87
MRK	0.89	(0.23)	0.00	(0.76)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.02	(0.06)	(0.09)	0.00	1.34	(1.07)	2.10	(2.09)	5.74

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