SPDR MSCI Correlations

CWI Etf

USD 39.13 0.13 0.33%

The current 90-days correlation between SPDR MSCI ACWI and Invesco Water Resources is 0.04 (i.e., Significant 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 0.91 (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.

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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 signals in private.

Moving together with SPDR Etf

1.0	VEA	Vanguard FTSE Developed	Pair Corr
1.0	IEFA	iShares Core MSCI	Pair Corr
1.0	VEU	Vanguard FTSE All	Pair Corr
1.0	EFA	iShares MSCI EAFE	Pair Corr
1.0	IXUS	iShares Core MSCI	Pair Corr
0.98	SPDW	SPDR SP World	Pair Corr
1.0	IDEV	iShares Core MSCI	Pair Corr
1.0	ESGD	iShares ESG Aware	Pair Corr
1.0	JIRE	JP Morgan Exchange	Pair Corr
1.0	DFAX	Dimensional World	Pair Corr
0.93	MUU	Direxion Daily MU Trending	Pair Corr
0.91	MULL	GraniteShares 2x Long Trending	Pair Corr
0.94	KORU	Direxion Daily South	Pair Corr
0.79	GDXU	MicroSectors Gold Miners	Pair Corr
0.85	JNUG	Direxion Daily Junior	Pair Corr
0.8	FNGD	MicroSectors FANG Index	Pair Corr
0.87	NUGT	Direxion Daily Gold	Pair Corr
0.83	BWET	ETF Managers Group	Pair Corr
0.85	SHNY	Microsectors Gold	Pair Corr
0.78	DBA	Invesco DB Agriculture	Pair Corr
0.78	FXC	Invesco CurrencyShares	Pair Corr
0.86	WDNA	WisdomTree BioRevolution Low Volatility	Pair Corr
0.9	TLCI	Touchstone ETF Trust	Pair Corr
0.93	DFSD	Dimensional ETF Trust	Pair Corr
0.89	GDXY	YieldMax Gold Miners	Pair Corr
0.92	PFFA	Virtus InfraCap Preferred	Pair Corr
0.89	XYLD	Global X SP	Pair Corr
0.96	IQSZ	Invesco Actively Managed	Pair Corr
0.64	WEBS	Direxion Daily Dow	Pair Corr
0.9	XFIX	Fm Investments Symbol Change	Pair Corr
0.98	CHPS	Xtrackers Semiconductor	Pair Corr
0.98	FIDU	Fidelity MSCI Industrials	Pair Corr
0.84	PSFD	Pacer Swan SOS	Pair Corr
0.87	SIXJ	AIM ETF Products	Pair Corr
0.98	IRTR	iShares Trust	Pair Corr
0.87	XAUG	FT Cboe Vest	Pair Corr

Related Correlations Analysis

	PXF	XSOE	TNA	EWG	IEV	EWW	GUSA	MDYV	VSTCX	PHO
PXF		0.97	0.83	0.9	0.98	0.98	0.69	0.94	0.87	0.66	PXF
XSOE	0.97		0.82	0.87	0.96	0.95	0.69	0.88	0.84	0.7	XSOE
TNA	0.83	0.82		0.89	0.87	0.83	0.87	0.93	0.9	0.74	TNA
EWG	0.9	0.87	0.89		0.96	0.86	0.88	0.92	0.94	0.66	EWG
IEV	0.98	0.96	0.87	0.96		0.95	0.79	0.94	0.93	0.68	IEV
EWW	0.98	0.95	0.83	0.86	0.95		0.66	0.92	0.85	0.69	EWW
GUSA	0.69	0.69	0.87	0.88	0.79	0.66		0.79	0.82	0.62	GUSA
MDYV	0.94	0.88	0.93	0.92	0.94	0.92	0.79		0.92	0.67	MDYV
VSTCX	0.87	0.84	0.9	0.94	0.93	0.85	0.82	0.92		0.62	VSTCX
PHO	0.66	0.7	0.74	0.66	0.68	0.69	0.62	0.67	0.62		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	0.63	0.20	0.25	0.32	0.50	(0.76)	1.64	(1.16)	3.36
XSOE	0.67	0.13	0.14	0.23	0.62	(0.75)	1.50	(1.22)	4.40
TNA	2.77	0.21	0.09	0.09	3.26	(2.80)	5.88	(5.62)	16.60
EWG	0.65	0.05	0.05	0.11	0.82	(0.64)	1.31	(1.30)	3.67
IEV	0.66	0.10	0.12	0.17	0.66	(0.71)	1.48	(1.32)	3.28
EWW	0.94	0.25	0.20	0.43	0.89	(1.10)	1.96	(1.45)	7.17
GUSA	0.60	(0.02)	(0.03)	0.01	0.83	(0.55)	0.99	(1.61)	3.81
MDYV	0.75	0.11	0.15	0.14	0.61	(0.96)	2.18	(1.33)	4.29
VSTCX	0.89	0.18	0.19	0.21	0.69	(1.10)	2.25	(1.62)	7.93
PHO	0.78	(0.01)	(0.04)	(3.09)	0.94	(0.81)	1.84	(1.51)	4.66

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SPDR MSCI Correlations

SPDR MSCI Correlation With Market

Almost no diversification

Moving together with SPDR Etf

Related Correlations Analysis

SPDR MSCI Constituents Risk-Adjusted Indicators

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