MSCI Correlations

3HM Stock

571.80 1.80 0.31%

The current 90-days correlation between MSCI Inc and Apple Inc is 0.14 (i.e., Average diversification). The correlation of MSCI 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. If the correlation is 0, the equities are not correlated; they are entirely random.

MSCI Correlation With Market

Significant diversification

The correlation between MSCI Inc and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MSCI Inc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to MSCI could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MSCI when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back MSCI - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling MSCI Inc to buy it.

Moving together with MSCI Stock

0.63	APC	Apple Inc	Pair Corr
0.63	APC	Apple Inc	Pair Corr
0.63	APC	Apple Inc	Pair Corr
0.63	APC	Apple Inc	Pair Corr
0.61	APC	Apple Inc	Pair Corr
0.64	APC	Apple Inc	Pair Corr
0.7	DP4B	AP Mller	Pair Corr
0.69	DP4A	AP Mller	Pair Corr

Moving against MSCI Stock

0.83	1Q6	Prosafe SE	Pair Corr
0.61	S0V	Seaboard	Pair Corr
0.44	WWG	Gelsenwasser AG	Pair Corr
0.33	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	APC	APC	APC	APC	APC	MSF	MSF	MSF	MSF
APC		0.99	0.98	0.98	0.99	0.66	0.63	0.64	0.62	APC
APC	0.99		0.98	0.98	0.99	0.66	0.64	0.64	0.62	APC
APC	0.98	0.98		0.98	0.98	0.63	0.6	0.61	0.59	APC
APC	0.98	0.98	0.98		0.97	0.64	0.61	0.61	0.59	APC
APC	0.99	0.99	0.98	0.97		0.66	0.64	0.65	0.61	APC
MSF	0.66	0.66	0.63	0.64	0.66		0.98	0.99	0.96	MSF
MSF	0.63	0.64	0.6	0.61	0.64	0.98		0.98	0.97	MSF
MSF	0.64	0.64	0.61	0.61	0.65	0.99	0.98		0.96	MSF
MSF	0.62	0.62	0.59	0.59	0.61	0.96	0.97	0.96		MSF
	APC	APC	APC	APC	APC	MSF	MSF	MSF	MSF

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Risk-Adjusted Indicators

There is a big difference between MSCI Stock performing well and MSCI Company 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 MSCI'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
APC	1.09	0.07	0.01	0.25	1.31	(1.06)	2.28	(2.21)	6.17
APC	1.10	0.08	0.01	0.27	1.37	(1.16)	2.14	(2.22)	6.90
APC	1.11	0.07	0.02	0.22	1.45	(1.15)	2.24	(2.65)	9.79
APC	1.19	0.06	0.02	0.21	1.23	(1.51)	2.96	(2.05)	8.21
APC	0.95	0.06	0.02	0.22	1.26	(0.99)	2.29	(2.15)	7.12
MSF	1.01	0.06	0.02	0.20	1.21	(1.31)	2.25	(1.40)	8.71
MSF	0.97	0.04	0.02	0.17	1.35	(1.09)	2.27	(1.75)	9.11
MSF	1.07	0.04	0.02	0.17	1.43	(1.34)	2.42	(1.64)	11.42
MSF	0.99	0.02	0.00	0.14	1.32	(1.11)	2.04	(1.53)	9.79

Be your own money manager

Our tools can tell you how much better you can do entering a position in MSCI without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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