IShares MSCI Correlations

INDA Etf

USD 53.19 0.44 0.82%

The current 90-days correlation between iShares MSCI India and iShares India 50 is 0.96 (i.e., Almost no 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

Very weak diversification

The correlation between iShares MSCI India and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares MSCI India and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iShares MSCI India. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with IShares Etf

0.99	EPI	WisdomTree India Earnings	Pair Corr
0.94	INDSX	Financial Investors Trust	Pair Corr
0.92	SMIN	iShares MSCI India Low Volatility	Pair Corr
1.0	PIN	Invesco India ETF	Pair Corr
1.0	FLIN	Franklin FTSE India	Pair Corr
0.96	GLIN	VanEck India Growth	Pair Corr
0.99	NFTY	First Trust India	Pair Corr
0.9	INDF	Exchange Traded Concepts	Pair Corr
0.85	YCL	ProShares Ultra Yen	Pair Corr
0.77	VIIX	VIIX	Pair Corr
0.88	ULE	ProShares Ultra Euro	Pair Corr
0.87	FXY	Invesco CurrencyShares	Pair Corr
0.79	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.93	KO	Coca Cola Aggressive Push	Pair Corr
0.72	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Moving against IShares Etf

0.79	IXSE	IXSE	Pair Corr
0.78	TSJA	TSJA	Pair Corr
0.75	DSJA	DSJA	Pair Corr
0.66	SIXD	AIM ETF Products	Pair Corr
0.6	SPY	SPDR SP 500	Pair Corr
0.84	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.7	DIS	Walt Disney Aggressive Push	Pair Corr
0.66	WMT	Walmart Aggressive Push	Pair Corr
0.64	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.61	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.58	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.55	PPA	Invesco Aerospace Defense	Pair Corr
0.52	HPQ	HP Inc	Pair Corr
0.51	T	ATT Inc Aggressive Push	Pair Corr
0.47	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.33	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	INDY	MCHI	VNM	EPI	SMIN
INDY		-0.18	0.91	0.97	0.9	INDY
MCHI	-0.18		-0.18	-0.27	-0.22	MCHI
VNM	0.91	-0.18		0.94	0.84	VNM
EPI	0.97	-0.27	0.94		0.92	EPI
SMIN	0.9	-0.22	0.84	0.92		SMIN
	INDY	MCHI	VNM	EPI	SMIN

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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

EPI	+ 0.97	INDY
EPI	+ 0.94	VNM
SMIN	+ 0.92	EPI
VNM	+ 0.91	INDY
SMIN	+ 0.9	INDY
SMIN	+ 0.84	VNM

High negative correlations

EPI	- 0.27	MCHI
SMIN	- 0.22	MCHI
VNM	- 0.18	MCHI
MCHI	- 0.18	INDY

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
INDY	0.55	(0.11)	0.00	(0.15)	0.00	0.00	1.10	(1.26)	2.91
MCHI	1.92	0.21	0.05	0.73	2.58	(2.09)	5.40	(3.25)	19.77
VNM	0.67	(0.18)	0.00	(0.22)	0.00	0.00	1.20	(1.42)	4.35
EPI	0.62	(0.15)	0.00	(0.19)	0.00	0.00	1.01	(1.50)	3.53
SMIN	0.77	(0.08)	0.00	(0.12)	0.00	0.00	1.35	(2.05)	5.02

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