IShares Trust Correlations

MADE Etf

26.72 0.05 0.19%

The current 90-days correlation between iShares Trust and First Trust Exchange Traded is -0.05 (i.e., Good 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

Average diversification

The correlation between iShares Trust and DJI is 0.13 (i.e., Average 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 Correlation 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 information on how to trade IShares Etf refer to our How to Trade IShares Etf guide.

Moving together with IShares Etf

0.81	XLI	Industrial Select Sector	Pair Corr
0.66	DRVN	Driven Brands Holdings	Pair Corr
0.86	ITA	iShares Aerospace Defense	Pair Corr
0.88	JETS	US Global Jets	Pair Corr
0.99	FXR	First Trust Industri	Pair Corr
0.95	PPA	Invesco Aerospace Defense	Pair Corr
0.8	IYJ	iShares Industrials ETF Low Volatility	Pair Corr
0.99	FIDU	Fidelity MSCI Industrials	Pair Corr
0.82	UPRO	ProShares UltraPro SP500	Pair Corr
0.8	QTJA	Innovator ETFs Trust	Pair Corr
0.73	QTOC	Innovator ETFs Trust	Pair Corr
0.71	XTOC	Innovator ETFs Trust	Pair Corr
0.82	QTAP	Innovator Growth 100	Pair Corr
0.78	XTJA	Innovator ETFs Trust	Pair Corr
0.8	XDJA	Innovator ETFs Trust	Pair Corr
0.82	XTAP	Innovator Equity Acc	Pair Corr
0.8	HD	Home Depot Sell-off Trend	Pair Corr
0.76	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.8	HPQ	HP Inc	Pair Corr
0.92	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.87	BAC	Bank of America Aggressive Push	Pair Corr
0.83	DIS	Walt Disney Aggressive Push	Pair Corr
0.84	WMT	Walmart Aggressive Push	Pair Corr

Moving against IShares Etf

0.8	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.78	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.74	KO	Coca Cola Sell-off Trend	Pair Corr
0.71	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.67	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	MDEV	MDST	MEDX	MEDI	MGNR	MISL	DPST	DRIP	DRLL
MDEV		-0.51	0.69	0.86	-0.09	0.2	-0.57	0.28	-0.27	MDEV
MDST	-0.51		-0.89	-0.65	0.81	0.53	0.92	-0.88	0.87	MDST
MEDX	0.69	-0.89		0.84	-0.68	-0.27	-0.8	0.7	-0.72	MEDX
MEDI	0.86	-0.65	0.84		-0.28	-0.02	-0.6	0.4	-0.43	MEDI
MGNR	-0.09	0.81	-0.68	-0.28		0.69	0.68	-0.79	0.8	MGNR
MISL	0.2	0.53	-0.27	-0.02	0.69		0.51	-0.57	0.58	MISL
DPST	-0.57	0.92	-0.8	-0.6	0.68	0.51		-0.77	0.74	DPST
DRIP	0.28	-0.88	0.7	0.4	-0.79	-0.57	-0.77		-0.99	DRIP
DRLL	-0.27	0.87	-0.72	-0.43	0.8	0.58	0.74	-0.99		DRLL
	MDEV	MDST	MEDX	MEDI	MGNR	MISL	DPST	DRIP	DRLL

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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

DPST	+ 0.92	MDST
DRLL	+ 0.87	MDST
MEDI	+ 0.86	MDEV
MEDI	+ 0.84	MEDX
MGNR	+ 0.81	MDST
DRLL	+ 0.8	MGNR

High negative correlations

DRLL	- 0.99	DRIP
MEDX	- 0.89	MDST
DRIP	- 0.88	MDST
DPST	- 0.8	MEDX
DRIP	- 0.79	MGNR
DRIP	- 0.77	DPST

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
MDEV	0.58	(0.08)	0.00	(0.04)	0.00	0.00	1.32	(1.04)	2.88
MDST	0.66	0.07	0.02	0.26	0.56	(0.74)	1.15	(0.91)	3.22
MEDX	0.68	(0.26)	0.00	(0.34)	0.00	0.00	1.16	(1.65)	4.42
MEDI	0.85	(0.12)	0.00	(0.07)	0.00	0.00	1.55	(1.69)	5.09
MGNR	1.01	0.07	0.03	0.21	1.20	(1.15)	2.34	(1.79)	5.08
MISL	0.85	(0.10)	(0.06)	0.02	1.40	(0.84)	1.70	(1.89)	8.21
DPST	4.26	0.06	0.16	0.12	3.93	(5.26)	8.64	(5.98)	51.17
DRIP	2.43	0.08	0.00	0.07	0.00	0.00	5.12	(4.18)	18.28
DRLL	0.95	(0.02)	(0.04)	0.08	1.36	(0.90)	1.86	(2.04)	5.72

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