SPDR MSCI Correlations

STW Etf  EUR 213.50  0.20  0.09%   
The current 90-days correlation between SPDR MSCI Europe and SSgA SPDR ETFs is 0.51 (i.e., Very weak diversification). The correlation of SPDR 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.

SPDR MSCI Correlation With Market

Modest diversification

The correlation between SPDR MSCI Europe and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR MSCI Europe and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to SPDR 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 SPDR 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 SPDR 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 SPDR MSCI Europe to buy it.

Moving together with SPDR Etf

  0.66CAC Amundi CAC 40PairCorr
  0.65CACC Lyxor CAC 40PairCorr
  0.64MEH Lyxor UCITS FTSEPairCorr
  0.64PMEH Amundi PEA ImmobilierPairCorr
  0.64EPRE Amundi Index SolutionsPairCorr
  0.63EEP BNP Paribas EasyPairCorr
  1.0HLT Lyxor Index FundPairCorr

Moving against SPDR Etf

  0.83HHH HSBC SP 500PairCorr
  0.83SPY5 SPDR SP 500PairCorr
  0.75GBS Gold Bullion SecuritiesPairCorr
  0.54JPNH Lyxor UCITS JapanPairCorr
  0.46EMLD SSgA SPDR ETFsPairCorr
  0.41MWO Amundi FTSE EPRANAREITPairCorr

Related Correlations Analysis

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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   
JPMCRM
XOMMETA
CRMMETA
CRMT
XOMCRM
TMETA
  
High negative correlations   
MRKCRM
MRKJPM
MRKT
JPMA
MRKMETA
XOMMRK

SPDR MSCI Competition Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR 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 SPDR 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.07  0.05  0.02  0.16  1.41 
 2.62 
 8.02 
MSFT  0.89 (0.10) 0.00 (0.05) 0.00 
 2.08 
 8.19 
UBER  1.56 (0.15) 0.00 (0.06) 0.00 
 2.53 
 20.10 
F  1.40 (0.09)(0.02) 0.02  2.20 
 2.53 
 11.72 
T  0.91  0.26  0.16 (47.59) 0.84 
 2.56 
 6.47 
A  1.09 (0.16) 0.00 (0.27) 0.00 
 2.11 
 9.02 
CRM  1.25  0.24  0.20  0.30  0.94 
 3.18 
 9.09 
JPM  1.09  0.03  0.06  0.10  1.43 
 2.05 
 15.87 
MRK  0.83 (0.26) 0.00 (1.64) 0.00 
 1.68 
 4.89 
XOM  1.03  0.04  0.00  0.15  1.22 
 2.14 
 5.78 

Be your own money manager

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