IShares Trust Correlations

ITDI Etf

32.89 0.23 0.70%

The current 90-days correlation between iShares Trust and SPDR BOFA MERRILL is 0.57 (i.e., Very weak diversification). The correlation of IShares Trust 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 Trust Correlation With Market

Very poor diversification

The correlation between iShares Trust and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iShares Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

For more detail on how to invest in IShares Etf please use our How to Invest in IShares Trust guide.

Moving together with IShares Etf

0.76	DSJA	DSJA	Pair Corr
0.69	RSPY	Tuttle Capital Management	Pair Corr
0.64	MEME	Roundhill Investments	Pair Corr
0.97	ITDD	iShares Trust	Pair Corr
0.76	AAA	Listed Funds Trust	Pair Corr
0.94	VGT	Vanguard Information	Pair Corr
0.61	GLD	SPDR Gold Shares	Pair Corr
0.93	METV	Roundhill Ball Metaverse	Pair Corr
0.92	JEPI	JPMorgan Equity Premium	Pair Corr
0.88	VOT	Vanguard Mid Cap	Pair Corr
0.9	FLOW	Global X Funds	Pair Corr
0.95	SPLG	SPDR Portfolio SP	Pair Corr
0.91	FXR	First Trust Industri	Pair Corr
0.86	FDN	First Trust Dow	Pair Corr
0.75	VDE	Vanguard Energy Index	Pair Corr
0.67	CONY	YieldMax N Option	Pair Corr
0.9	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.67	BCD	abrdn Bloomberg All	Pair Corr
0.95	XLK	Technology Select Sector	Pair Corr
0.67	BTC	Grayscale Bitcoin Mini	Pair Corr
0.94	QQQM	Invesco NASDAQ 100	Pair Corr
0.79	CSB	VictoryShares Small Cap	Pair Corr
0.87	FPX	First Trust Equity	Pair Corr
0.95	DGRO	iShares Core Dividend	Pair Corr
0.93	USXF	iShares ESG Advanced	Pair Corr
0.95	ROBO	Robo Global Robotics	Pair Corr
0.97	FFLC	Fidelity Fundamental Symbol Change	Pair Corr
0.8	HYG	iShares iBoxx High	Pair Corr
0.94	QQQ	Invesco QQQ Trust	Pair Corr
0.87	GDE	WisdomTree Efficient Gold	Pair Corr
0.68	MAXI	Simplify Bitcoin Strategy	Pair Corr
0.93	ESGV	Vanguard ESG Stock	Pair Corr

Moving against IShares Etf

0.4

TSLQ

AXS TSLA Bear Trending

Pair Corr

Related Correlations Analysis

	XOVR	AAIAX	FDV	TRSY	BCHP	SQY
XOVR		-0.52	0.87	-0.27	0.94	0.91	XOVR
AAIAX	-0.52		-0.33	0.45	-0.38	-0.59	AAIAX
FDV	0.87	-0.33		-0.35	0.85	0.76	FDV
TRSY	-0.27	0.45	-0.35		-0.19	-0.12	TRSY
BCHP	0.94	-0.38	0.85	-0.19		0.87	BCHP
SQY	0.91	-0.59	0.76	-0.12	0.87		SQY
	XOVR	AAIAX	FDV	TRSY	BCHP	SQY

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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

BCHP	+ 0.94	XOVR
SQY	+ 0.91	XOVR
FDV	+ 0.87	XOVR
SQY	+ 0.87	BCHP
BCHP	+ 0.85	FDV
SQY	+ 0.76	FDV

High negative correlations

SQY	- 0.59	AAIAX
AAIAX	- 0.52	XOVR
BCHP	- 0.38	AAIAX
TRSY	- 0.35	FDV
FDV	- 0.33	AAIAX
TRSY	- 0.27	XOVR

IShares Trust Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Trust 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 Trust'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
XOVR	1.06	0.16	0.07	0.29	1.43	(1.11)	2.84	(2.35)	6.53
AAIAX	0.01	0.00	(1.88)	0.00	0.00	(0.06)	0.05	(0.05)	0.15
FDV	0.47	0.01	(0.10)	0.14	0.43	(0.53)	0.88	(0.90)	2.44
TRSY	0.02	0.01	0.00	(3.85)	0.00	0.00	0.07	0.00	0.07
BCHP	0.61	0.01	(0.01)	0.14	0.72	(0.69)	1.15	(1.54)	5.26
SQY	1.40	0.24	0.15	0.33	1.33	(1.54)	3.03	(2.25)	12.09

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