IShares MSCI Correlations

Etfs . USA . 
Etf . iShares MSCI India
SMIN Etf  USD 80.46  0.90  1.13%   
The current 90-days correlation between iShares MSCI India and Invesco India ETF is 0.71 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares MSCI moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares MSCI India moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares MSCI Correlation With Market

Modest diversification

The correlation between iShares MSCI India and DJI is 0.29 (i.e., Modest 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 World Market Map 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 gross domestic product.

Moving together with IShares Etf

  0.93INDA iShares MSCI IndiaPairCorr
  0.93EPI WisdomTree India EarningsPairCorr
  0.9INDSX Financial Investors TrustPairCorr
  0.93PIN Invesco India ETFPairCorr
  0.94FLIN Franklin FTSE IndiaPairCorr
  0.95GLIN VanEck India GrowthPairCorr
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Moving against IShares Etf

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  0.57AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.54HPQ HP IncPairCorr
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  0.44XOM Exxon Mobil Corp Sell-off TrendPairCorr

Related Correlations Analysis

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