Deka MSCI Correlations

Etfs . Germany . 
Etf . Deka MSCI World
ELFW Etf  EUR 38.92  0.23  0.59%   
The current 90-days correlation between Deka MSCI World and UBS Fund Solutions is 0.3 (i.e., Weak diversification). The correlation of Deka 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.

Deka MSCI Correlation With Market

Poor diversification

The correlation between Deka MSCI World and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Deka MSCI World and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Deka 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 Deka 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 Deka 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 Deka MSCI World to buy it.

Moving together with Deka Etf

  0.87VGWL Vanguard FTSE AllPairCorr
  0.91VWCE Vanguard FTSE AllPairCorr
  0.86SC0J Invesco MSCI WorldPairCorr
  0.87IS3Q iShares Edge MSCIPairCorr
  0.87SPYY SSgA SPDR ETFsPairCorr
  0.85UIMM UBS Fund SolutionsPairCorr
  0.85SEAC UBS Fund SolutionsPairCorr
  0.94UIM7 UBS ETFPairCorr
  0.88IUSQ iShares MSCI ACWIPairCorr
  0.74EXI2 iShares Dow JonesPairCorr
  0.66VALD BNP Paribas EasyPairCorr
  0.92GQWD Goldman Sachs AlphaPairCorr
  0.82XDEW Xtrackers PublicPairCorr
  0.74EMNE iShares MSCI EMUPairCorr
  0.78VUSA Vanguard Funds PublicPairCorr
  0.75DX2X Xtrackers StoxxPairCorr
  0.77ETSZ Easy ETFPairCorr
  0.62ETLX LG Gold MiningPairCorr
  0.79C006 Lyxor FAZ 100PairCorr
  0.76VMID Vanguard FTSE 250PairCorr
  0.62IUS2 iShares SP BanksPairCorr
  0.68LASI Multi Units LuxembourgPairCorr
  0.61T3MP JPMorgan ETFs ICAVPairCorr
  0.62C099 Lyxor Bloomberg EqualPairCorr
  0.62DBX8 Xtrackers MSCIPairCorr
  0.68PRAM Amundi Prime EmergingPairCorr
  0.61LM9E BNP Paribas EasyPairCorr

Moving against Deka Etf

  0.84DBPD Xtrackers ShortDAXPairCorr

Related Correlations Analysis

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Be your own money manager

Our tools can tell you how much better you can do entering a position in Deka 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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