SPDR MSCI Correlations

CWI Etf

USD 29.79 0.33 1.10%

The current 90-days correlation between SPDR MSCI ACWI and SPDR SP International is 0.93 (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 0.62 (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.

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 housing.

Moving together with SPDR Etf

0.99	VEA	Vanguard FTSE Developed	Pair Corr
0.99	IEFA	iShares Core MSCI	Pair Corr
1.0	VEU	Vanguard FTSE All	Pair Corr
0.99	EFA	iShares MSCI EAFE	Pair Corr
1.0	IXUS	iShares Core MSCI	Pair Corr
1.0	SPDW	SPDR SP World	Pair Corr
0.99	IDEV	iShares Core MSCI	Pair Corr
0.99	ESGD	iShares ESG Aware	Pair Corr
0.99	JIRE	JP Morgan Exchange	Pair Corr
0.99	DFAX	Dimensional World	Pair Corr
0.9	GDXU	MicroSectors Gold Miners	Pair Corr
0.91	JNJ	Johnson Johnson	Pair Corr
0.82	MCD	McDonalds	Pair Corr
0.69	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.75	TRV	The Travelers Companies Sell-off Trend	Pair Corr
0.87	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.83	GE	GE Aerospace	Pair Corr
0.72	INTC	Intel	Pair Corr
0.64	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr

Moving against SPDR Etf

0.45	UPRO	ProShares UltraPro SP500	Pair Corr
0.35	QTOC	Innovator ETFs Trust	Pair Corr
0.33	QTJA	Innovator ETFs Trust	Pair Corr
0.67	MRK	Merck Company	Pair Corr
0.6	CAT	Caterpillar	Pair Corr
0.55	DIS	Walt Disney	Pair Corr
0.54	AXP	American Express	Pair Corr
0.54	HPQ	HP Inc	Pair Corr
0.49	HD	Home Depot	Pair Corr
0.46	BAC	Bank of America	Pair Corr

Related Correlations Analysis

	GWX	GMF	DGT	GII	EWX
GWX		0.79	0.95	0.67	0.45	GWX
GMF	0.79		0.66	0.46	0.86	GMF
DGT	0.95	0.66		0.66	0.3	DGT
GII	0.67	0.46	0.66		0.13	GII
EWX	0.45	0.86	0.3	0.13		EWX
	GWX	GMF	DGT	GII	EWX

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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
GWX	0.66	0.10	0.14	0.10	0.70	(0.71)	1.45	(1.16)	4.46
GMF	0.81	0.01	0.00	(0.03)	0.00	0.00	1.38	(1.98)	5.51
DGT	0.63	0.13	0.17	0.11	0.70	(0.65)	1.37	(1.00)	4.26
GII	0.60	0.09	0.16	0.14	0.66	(0.76)	1.29	(1.47)	3.57
EWX	0.64	(0.05)	0.00	(0.18)	0.00	0.00	1.33	(1.81)	3.90

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