HSBC MSCI Correlations

HMAF Etf

USD 76.96 1.19 1.52%

The correlation of HSBC 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. If the correlation is 0, the equities are not correlated; they are entirely random.

HSBC MSCI Correlation With Market

Poor diversification

The correlation between HSBC MSCI AC and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HSBC MSCI AC and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to HSBC 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 HSBC 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 HSBC 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 HSBC MSCI AC to buy it.

Moving together with HSBC Etf

0.95	IFFF	iShares MSCI AC	Pair Corr
0.89	EMAS	SPDR MSCI EM	Pair Corr
0.82	CSEMAS	iShares VII PLC	Pair Corr
0.83	AASU	Amundi Index Solutions	Pair Corr
0.92	AASI	Amundi Index Solutions	Pair Corr
0.99	AJEUAS	UBS Fund Solutions	Pair Corr
0.88	CSNKY	iShares VII PLC	Pair Corr
0.66	CSSPX	iShares Core SP	Pair Corr
0.77	EIMI	iShares Core MSCI	Pair Corr
0.66	IUSA	iShares SP 500	Pair Corr
0.73	DJSXE	iShares Core EURO	Pair Corr
0.83	XMEX	Xtrackers MSCI Mexico	Pair Corr
0.7	XEOU	Xtrackers MSCI Europe	Pair Corr

Related Correlations Analysis

	INAA	CSGOLD	IU0A	IGIL	ISWD	LYHLTW	CSINDU	WSCSRI	WPAB
INAA		0.71	0.7	0.8	0.9	0.58	0.88	0.84	0.0	INAA
CSGOLD	0.71		0.88	0.87	0.86	0.71	0.81	0.92	0.0	CSGOLD
IU0A	0.7	0.88		0.78	0.77	0.84	0.84	0.89	0.0	IU0A
IGIL	0.8	0.87	0.78		0.91	0.61	0.78	0.87	0.0	IGIL
ISWD	0.9	0.86	0.77	0.91		0.58	0.88	0.92	0.0	ISWD
LYHLTW	0.58	0.71	0.84	0.61	0.58		0.77	0.81	0.0	LYHLTW
CSINDU	0.88	0.81	0.84	0.78	0.88	0.77		0.93	0.0	CSINDU
WSCSRI	0.84	0.92	0.89	0.87	0.92	0.81	0.93		0.0	WSCSRI
WPAB	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		WPAB
	INAA	CSGOLD	IU0A	IGIL	ISWD	LYHLTW	CSINDU	WSCSRI	WPAB

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

WSCSRI	+ 0.93	CSINDU
WSCSRI	+ 0.92	CSGOLD
WSCSRI	+ 0.92	ISWD
ISWD	+ 0.91	IGIL
ISWD	+ 0.9	INAA
WSCSRI	+ 0.89	IU0A

High negative correlations

WPAB	- 0.0	WSCSRI
WPAB	- 0.0	CSINDU
WPAB	- 0.0	LYHLTW
WPAB	- 0.0	ISWD
WPAB	- 0.0	IGIL
WPAB	- 0.0	IU0A

HSBC MSCI Constituents Risk-Adjusted Indicators

There is a big difference between HSBC Etf performing well and HSBC 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 HSBC 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
INAA	0.45	0.00	(0.06)	0.10	0.71	(0.51)	0.96	(1.15)	4.33
CSGOLD	1.03	0.34	0.13	(2.41)	1.26	(1.39)	2.63	(1.16)	9.58
IU0A	0.12	0.01	(0.23)	(0.11)	0.06	(0.21)	0.35	(0.18)	0.71
IGIL	0.22	0.00	(0.19)	0.04	0.29	(0.23)	0.49	(0.53)	1.35
ISWD	0.71	0.02	(0.03)	(1.11)	1.21	(0.62)	1.24	(1.90)	5.63
LYHLTW	0.57	0.08	0.06	0.30	0.38	(0.96)	1.45	(1.13)	6.12
CSINDU	0.40	0.05	0.00	(2.59)	0.36	(0.55)	0.95	(0.73)	2.37
WSCSRI	0.62	0.09	0.06	0.31	0.71	(0.67)	1.44	(1.13)	4.51
WPAB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

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