IShares MSCI Correlations

EWA Etf

USD 25.47 0.19 0.74%

The current 90-days correlation between iShares MSCI Australia and iShares MSCI Canada is 0.75 (i.e., Poor diversification). The correlation of IShares 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.

IShares MSCI Correlation With Market

Weak diversification

The correlation between iShares MSCI Australia and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares MSCI Australia and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in iShares MSCI Australia. 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 IShares Etf

0.93	BBCA	JPMorgan BetaBuilders	Pair Corr
0.93	EWC	iShares MSCI Canada	Pair Corr
0.74	EWY	iShares MSCI South	Pair Corr
0.82	TRV	The Travelers Companies	Pair Corr
0.81	JNJ	Johnson Johnson	Pair Corr
0.76	HD	Home Depot	Pair Corr
0.72	AA	Alcoa Corp	Pair Corr
0.72	HPQ	HP Inc	Pair Corr
0.76	CVX	Chevron Corp	Pair Corr
0.77	XOM	Exxon Mobil Corp	Pair Corr
0.83	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.85	DD	Dupont De Nemours	Pair Corr

Moving against IShares Etf

0.66	WTID	UBS ETRACS	Pair Corr
0.62	TSLL	Direxion Shares ETF Sell-off Trend	Pair Corr
0.62	TSLR	GraniteShares 175x Long Sell-off Trend	Pair Corr
0.56	BA	Boeing	Pair Corr

Related Correlations Analysis

	EWC	EWS	EWM	EWG	EWH
EWC		0.57	0.4	0.31	0.46	EWC
EWS	0.57		0.22	0.86	-0.01	EWS
EWM	0.4	0.22		0.04	0.56	EWM
EWG	0.31	0.86	0.04		-0.18	EWG
EWH	0.46	-0.01	0.56	-0.18		EWH
	EWC	EWS	EWM	EWG	EWH

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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

EWG	+ 0.86	EWS
EWS	+ 0.57	EWC
EWH	+ 0.56	EWM
EWH	+ 0.46	EWC
EWM	+ 0.4	EWC
EWG	+ 0.31	EWC

High negative correlations

EWH	- 0.18	EWG
EWH	- 0.01	EWS

IShares MSCI Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares 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 IShares 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
EWC	0.66	0.03	0.03	0.06	0.84	(0.70)	1.33	(1.42)	4.53
EWS	0.51	0.12	0.12	0.41	0.74	(0.56)	1.14	(0.77)	4.08
EWM	0.63	(0.01)	(0.01)	(0.03)	0.81	(0.65)	1.26	(1.29)	3.79
EWG	0.73	0.19	0.19	0.37	0.71	(0.78)	1.77	(1.34)	4.50
EWH	0.95	(0.06)	0.00	(0.16)	0.00	0.00	1.68	(1.72)	8.24

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