IShares SP Correlations

IJK Etf

USD 91.09 0.64 0.71%

The current 90-days correlation between iShares SP Mid and First Trust NYSE is 0.61 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares SP moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares SP Mid Cap moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares SP Correlation With Market

Poor diversification

The correlation between iShares SP Mid Cap and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares SP Mid Cap 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 SP Mid Cap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with IShares Etf

0.84	VOT	Vanguard Mid Cap	Pair Corr
0.8	IWP	iShares Russell Mid	Pair Corr
0.77	ARKK	ARK Innovation ETF	Pair Corr
0.77	JKH	iShares Morningstar Mid	Pair Corr
0.96	KOMP	SPDR Kensho New	Pair Corr
1.0	MDYG	SPDR SP 400	Pair Corr
0.87	IMCG	iShares Morningstar Mid	Pair Corr
0.76	FPX	First Trust Equity	Pair Corr
1.0	IVOG	Vanguard SP Mid	Pair Corr
0.66	UPRO	ProShares UltraPro SP500	Pair Corr
0.63	QTOC	Innovator ETFs Trust	Pair Corr
0.69	XTJA	Innovator ETFs Trust	Pair Corr
0.69	XDJA	Innovator ETFs Trust	Pair Corr
0.68	XTAP	Innovator Equity Acc	Pair Corr
0.72	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.68	CSCO	Cisco Systems	Pair Corr
0.65	HPQ	HP Inc Fiscal Year End 19th of November 2024	Pair Corr
0.81	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.7	HD	Home Depot	Pair Corr
0.67	BAC	Bank of America Aggressive Push	Pair Corr

Related Correlations Analysis

	FBT	FVD	444859BR2	AQUI	MSTSX	ABHYX	LBHIX	SCAXF	VIASP
FBT		0.95	0.63	0.0	0.8	0.83	0.95	-0.19	-0.39	FBT
FVD	0.95		0.52	0.0	0.81	0.72	0.91	-0.16	-0.26	FVD
444859BR2	0.63	0.52		0.0	0.33	0.65	0.56	-0.14	-0.48	444859BR2
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	0.8	0.81	0.33	0.0		0.54	0.81	-0.18	-0.29	MSTSX
ABHYX	0.83	0.72	0.65	0.0	0.54		0.89	-0.28	-0.45	ABHYX
LBHIX	0.95	0.91	0.56	0.0	0.81	0.89		-0.24	-0.39	LBHIX
SCAXF	-0.19	-0.16	-0.14	0.0	-0.18	-0.28	-0.24		0.08	SCAXF
VIASP	-0.39	-0.26	-0.48	0.0	-0.29	-0.45	-0.39	0.08		VIASP
	FBT	FVD	444859BR2	AQUI	MSTSX	ABHYX	LBHIX	SCAXF	VIASP

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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

FVD	+ 0.95	FBT
LBHIX	+ 0.95	FBT
LBHIX	+ 0.91	FVD
LBHIX	+ 0.89	ABHYX
ABHYX	+ 0.83	FBT
MSTSX	+ 0.81	FVD

High negative correlations

VIASP	- 0.48	444859BR2
VIASP	- 0.45	ABHYX
VIASP	- 0.39	LBHIX
VIASP	- 0.39	FBT
VIASP	- 0.29	MSTSX
SCAXF	- 0.28	ABHYX

IShares SP Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares SP 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 SP'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
FBT	0.73	0.12	0.10	0.27	0.59	(0.84)	2.15	(1.19)	5.03
FVD	0.49	0.07	0.06	0.21	0.32	(0.61)	1.20	(0.68)	4.23
444859BR2	0.69	0.03	(0.05)	0.60	1.28	(0.70)	1.29	(0.93)	8.07
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.54	0.02	(0.01)	0.14	0.56	(0.62)	1.18	(0.98)	4.07
ABHYX	0.17	0.06	(0.21)	(0.48)	0.00	(0.26)	0.45	(0.34)	1.33
LBHIX	0.17	0.05	(0.17)	3.58	0.00	(0.33)	0.49	(0.24)	1.46
SCAXF	1.03	(0.63)	0.00	(0.61)	0.00	0.00	0.00	0.00	34.67
VIASP	1.64	(0.04)	(0.04)	(0.03)	2.82	(1.60)	3.41	(4.97)	13.57

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