HSBC Developed Correlations

HSWD Etf

29.98 0.00 0.00%

The correlation of HSBC Developed 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 Developed Correlation With Market

Average diversification

The correlation between HSBC Developed World and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HSBC Developed World and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to HSBC Developed 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 Developed 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 Developed - 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 Developed World to buy it.

Moving together with HSBC Etf

0.72	JPNJPA	UBSFund Solutions MSCI	Pair Corr
0.78	XDUD	Xtrackers DAX ESG	Pair Corr
0.76	HPAU	HSBC MSCI USA	Pair Corr
0.84	DMFC	iShares Edge MSCI	Pair Corr
0.87	IWDE	iShares MSCI World	Pair Corr
0.85	IUKD	iShares UK Dividend	Pair Corr
0.81	BATT	LG Battery Value	Pair Corr
0.77	SRECHA	UBS ETF SXI	Pair Corr
0.85	ESDD	BNP Paribas Easy	Pair Corr
0.61	CSINDU	iShares VII PLC	Pair Corr
0.81	JPSA	JPM USD Ultra	Pair Corr
0.82	STZX	SPDR MSCI Europe	Pair Corr
0.87	ISF	iShares Core FTSE	Pair Corr
0.78	GSCU	BNP Paribas Easy	Pair Corr
0.69	VAPX	Vanguard FTSE Developed	Pair Corr
0.91	SPESGE	UBS ETF plc	Pair Corr
0.74	VWRL	Vanguard FTSE All	Pair Corr
0.69	EQAC	Invesco EQQQ NASDAQ	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	0.53	-0.61	0.51	-0.55	0.22	-0.16	-0.53	-0.6	META
MSFT	0.66		0.83	-0.52	0.37	-0.19	0.05	-0.34	-0.77	-0.61	MSFT
UBER	0.53	0.83		-0.61	0.56	-0.23	-0.18	-0.32	-0.85	-0.6	UBER
F	-0.61	-0.52	-0.61		-0.69	0.49	0.32	0.44	0.68	0.75	F
T	0.51	0.37	0.56	-0.69		-0.45	-0.53	-0.26	-0.51	-0.48	T
A	-0.55	-0.19	-0.23	0.49	-0.45		-0.2	-0.27	0.4	0.19	A
CRM	0.22	0.05	-0.18	0.32	-0.53	-0.2		0.41	0.11	0.2	CRM
JPM	-0.16	-0.34	-0.32	0.44	-0.26	-0.27	0.41		0.38	0.44	JPM
MRK	-0.53	-0.77	-0.85	0.68	-0.51	0.4	0.11	0.38		0.66	MRK
XOM	-0.6	-0.61	-0.6	0.75	-0.48	0.19	0.2	0.44	0.66		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.83	MSFT
XOM	+ 0.75	F
MRK	+ 0.68	F
MSFT	+ 0.66	META
XOM	+ 0.66	MRK
T	+ 0.56	UBER

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.77	MSFT
T	- 0.69	F
F	- 0.61	UBER
XOM	- 0.61	MSFT
F	- 0.61	META

HSBC Developed Competition Risk-Adjusted Indicators

There is a big difference between HSBC Etf performing well and HSBC Developed 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 Developed'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
META	1.38	(0.27)	0.00	(0.20)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.90	(0.11)	0.00	(0.11)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.46	(0.35)	0.00	(0.25)	0.00	0.00	2.60	(3.82)	10.51
F	1.51	0.13	0.08	0.16	1.68	(1.65)	3.38	(2.63)	16.30
T	0.95	(0.22)	0.00	(0.71)	0.00	0.00	1.61	(2.18)	5.75
A	1.23	0.08	0.06	0.15	1.26	(1.33)	2.34	(2.21)	11.03
CRM	1.54	0.05	0.03	0.13	1.98	(1.51)	3.66	(2.92)	9.91
JPM	1.05	(0.02)	0.00	0.06	1.39	(1.07)	2.00	(1.91)	7.02
MRK	1.44	0.40	0.28	0.54	1.07	(1.80)	4.85	(2.06)	11.45
XOM	0.94	0.05	(0.01)	0.28	0.98	(1.01)	1.96	(1.51)	4.99

HSBC Developed Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with HSBC Developed etf to make a market-neutral strategy. Peer analysis of HSBC Developed could also be used in its relative valuation, which is a method of valuing HSBC Developed by comparing valuation metrics with similar companies.

HSBC USA Screened HSBC FTSE EPRA HSBC MSCI Europe HSBC Emerging Market HSBC MSCI Japan HSBC MSCI Taiwan HSBC MSCI USA HSBC MSCI USA American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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