SPDR MSCI Correlations

CWI Etf

USD 36.51 0.59 1.64%

The current 90-days correlation between SPDR MSCI ACWI and Invesco FTSE RAFI is 0.95 (i.e., Almost no 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

Poor diversification

The correlation between SPDR MSCI ACWI and DJI is 0.76 (i.e., Poor 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 signals in producer price index.

Moving together with SPDR Etf

0.98	VEA	Vanguard FTSE Developed	Pair Corr
0.98	IEFA	iShares Core MSCI	Pair Corr
1.0	VEU	Vanguard FTSE All	Pair Corr
0.98	EFA	iShares MSCI EAFE	Pair Corr
0.99	IXUS	iShares Core MSCI	Pair Corr
0.99	SPDW	SPDR SP World	Pair Corr
0.97	IDEV	iShares Core MSCI	Pair Corr
0.98	ESGD	iShares ESG Aware	Pair Corr
0.98	JIRE	JP Morgan Exchange	Pair Corr
0.98	DFAX	Dimensional World	Pair Corr
0.83	MUU	Direxion Daily MU Upward Rally	Pair Corr
0.63	JNUG	Direxion Daily Junior	Pair Corr
0.83	MULL	GraniteShares 2x Long Upward Rally	Pair Corr
0.61	NUGT	Direxion Daily Gold	Pair Corr
0.78	AGQ	ProShares Ultra Silver	Pair Corr
0.69	KORU	Direxion Daily South Trending	Pair Corr
0.66	GDMN	WisdomTree Efficient Gold	Pair Corr
0.84	PJFM	PGIM ETF Trust	Pair Corr
0.86	CPSL	Calamos Laddered	Pair Corr
0.86	DDFO	Innovator Equity Dual	Pair Corr
0.7	CALI	iShares Short Term	Pair Corr

Related Correlations Analysis

	PXF	XSOE	TNA	EWG	IEV	EWW	GUSA	MDYV	VSTCX	PHO
PXF		0.43	0.45	0.47	0.94	0.93	0.78	0.81	0.9	-0.29	PXF
XSOE	0.43		0.38	0.36	0.48	0.32	0.71	0.26	0.36	0.17	XSOE
TNA	0.45	0.38		0.76	0.58	0.41	0.69	0.8	0.57	0.46	TNA
EWG	0.47	0.36	0.76		0.7	0.43	0.51	0.72	0.61	0.38	EWG
IEV	0.94	0.48	0.58	0.7		0.87	0.77	0.86	0.92	-0.06	IEV
EWW	0.93	0.32	0.41	0.43	0.87		0.71	0.77	0.87	-0.35	EWW
GUSA	0.78	0.71	0.69	0.51	0.77	0.71		0.75	0.72	0.07	GUSA
MDYV	0.81	0.26	0.8	0.72	0.86	0.77	0.75		0.86	0.11	MDYV
VSTCX	0.9	0.36	0.57	0.61	0.92	0.87	0.72	0.86		-0.16	VSTCX
PHO	-0.29	0.17	0.46	0.38	-0.06	-0.35	0.07	0.11	-0.16		PHO
	PXF	XSOE	TNA	EWG	IEV	EWW	GUSA	MDYV	VSTCX	PHO

Please upgrade your account to get full access to Macroaxis premium features

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

IEV	+ 0.94	PXF
EWW	+ 0.93	PXF
VSTCX	+ 0.92	IEV
VSTCX	+ 0.9	PXF
EWW	+ 0.87	IEV
VSTCX	+ 0.87	EWW

High negative correlations

PHO	- 0.35	EWW
PHO	- 0.29	PXF
PHO	- 0.16	VSTCX
PHO	- 0.06	IEV

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	0.56	0.09	0.09	0.17	0.68	(0.59)	1.27	(1.29)	2.83
XSOE	0.71	0.04	0.03	0.10	0.90	(0.76)	1.51	(1.29)	4.84
TNA	2.98	(0.12)	0.01	0.03	3.84	(2.85)	5.80	(5.96)	16.53
EWG	0.66	(0.02)	(0.03)	0.03	0.82	(0.66)	1.21	(1.35)	3.33
IEV	0.62	0.05	0.06	0.13	0.57	(0.69)	1.29	(1.12)	2.64
EWW	0.92	0.02	0.00	0.09	0.98	(1.02)	1.93	(1.69)	4.37
GUSA	0.59	(0.02)	(0.02)	0.03	0.89	(0.54)	1.18	(1.23)	3.40
MDYV	0.73	(0.02)	(0.01)	0.04	0.94	(0.71)	1.83	(1.33)	3.88
VSTCX	0.94	0.10	0.09	0.14	1.05	(1.01)	2.23	(1.81)	7.02
PHO	0.67	(0.08)	0.00	(0.04)	0.00	0.00	1.33	(1.31)	4.04

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC