SPDR MSCI Correlations

CWI Etf

USD 38.21 0.12 0.31%

The current 90-days correlation between SPDR MSCI ACWI and Invesco Water Resources is 0.5 (i.e., Very weak diversification). The correlation of SPDR 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.

SPDR MSCI Correlation With Market

Almost no diversification

The correlation between SPDR MSCI ACWI and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR MSCI ACWI and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

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

Moving together with SPDR Etf

0.77	VEA	Vanguard FTSE Developed Aggressive Push	Pair Corr
0.78	IEFA	iShares Core MSCI	Pair Corr
0.75	VEU	Vanguard FTSE All	Pair Corr
0.75	EFA	iShares MSCI EAFE	Pair Corr
0.73	IXUS	iShares Core MSCI	Pair Corr
0.77	SPDW	SPDR SP World	Pair Corr
0.78	IDEV	iShares Core MSCI	Pair Corr
0.74	ESGD	iShares ESG Aware	Pair Corr
0.8	JIRE	JP Morgan Exchange	Pair Corr
0.73	DFAX	Dimensional World	Pair Corr
0.75	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.72	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.72	IVV	iShares Core SP	Pair Corr
0.81	VTV	Vanguard Value Index	Pair Corr
0.81	VO	Vanguard Mid Cap	Pair Corr
0.94	VB	Vanguard Small Cap	Pair Corr
0.9	VWO	Vanguard FTSE Emerging	Pair Corr
0.81	BRHY	BlackRock High Yield	Pair Corr
0.92	BA	Boeing	Pair Corr
0.71	JNJ	Johnson Johnson	Pair Corr
0.83	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.73	MRK	Merck Company Earnings Call This Week	Pair Corr
0.74	INTC	Intel Upward Rally	Pair Corr
0.74	WMT	Walmart Common Stock	Pair Corr

Moving against SPDR Etf

0.76	T	ATT Inc Earnings Call This Week	Pair Corr
0.75	HPQ	HP Inc	Pair Corr
0.53	MSFT	Microsoft Aggressive Push	Pair Corr
0.38	MMM	3M Company	Pair Corr

Related Correlations Analysis

	PXF	XSOE	TNA	EWG	IEV	EWW	GUSA	MDYV	VSTCX	PHO
PXF		0.69	0.89	0.79	0.99	0.64	0.82	0.71	0.94	0.66	PXF
XSOE	0.69		0.7	0.78	0.7	0.8	0.62	0.69	0.66	0.65	XSOE
TNA	0.89	0.7		0.8	0.88	0.69	0.87	0.82	0.88	0.79	TNA
EWG	0.79	0.78	0.8		0.84	0.85	0.82	0.91	0.87	0.61	EWG
IEV	0.99	0.7	0.88	0.84		0.66	0.85	0.74	0.95	0.65	IEV
EWW	0.64	0.8	0.69	0.85	0.66		0.56	0.88	0.72	0.63	EWW
GUSA	0.82	0.62	0.87	0.82	0.85	0.56		0.72	0.81	0.66	GUSA
MDYV	0.71	0.69	0.82	0.91	0.74	0.88	0.72		0.83	0.69	MDYV
VSTCX	0.94	0.66	0.88	0.87	0.95	0.72	0.81	0.83		0.61	VSTCX
PHO	0.66	0.65	0.79	0.61	0.65	0.63	0.66	0.69	0.61		PHO
	PXF	XSOE	TNA	EWG	IEV	EWW	GUSA	MDYV	VSTCX	PHO

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SPDR MSCI Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR MSCI 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 SPDR 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
PXF	0.58	0.17	0.20	0.32	0.44	(0.71)	1.31	(1.16)	2.80
XSOE	0.67	0.14	0.11	0.87	0.60	(0.75)	1.50	(1.26)	3.81
TNA	2.68	0.13	0.08	0.10	3.25	(2.67)	5.37	(5.58)	13.93
EWG	0.66	0.03	0.02	0.10	0.89	(0.63)	1.15	(1.39)	3.67
IEV	0.65	0.10	0.11	0.22	0.58	(0.74)	1.30	(1.20)	3.21
EWW	0.85	0.26	0.26	0.56	0.54	(1.01)	1.96	(1.26)	4.37
GUSA	0.55	(0.02)	(0.03)	0.04	0.83	(0.51)	0.99	(1.23)	3.77
MDYV	0.71	0.02	0.02	0.08	0.70	(0.82)	1.83	(1.33)	4.29
VSTCX	0.88	0.17	0.16	0.26	0.75	(1.02)	2.23	(1.62)	7.84
PHO	0.71	(0.04)	(0.05)	0.02	0.90	(0.70)	1.78	(1.39)	4.66

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