SPDR MSCI Correlations

WTEC Etf

USD 210.80 4.60 2.23%

The current 90-days correlation between SPDR MSCI World and SPDR MSCI Europe is 0.26 (i.e., Modest 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. If the correlation is 0, the equities are not correlated; they are entirely random.

SPDR MSCI Correlation With Market

Very good diversification

The correlation between SPDR MSCI World and DJI is -0.33 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR MSCI World 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 World to buy it.

Moving together with SPDR Etf

0.7	ISPY	LG Cyber Security	Pair Corr
0.86	IUIT	iShares SP 500	Pair Corr
0.84	XLKS	Invesco Technology	Pair Corr
0.73	QBIT	Amundi MSCI Disruptive	Pair Corr
0.75	AIAI	LG Artificial Intell	Pair Corr
0.79	ITEK	HAN GINS Tech	Pair Corr

Moving against SPDR Etf

0.71	XSGI	Xtrackers SP Global	Pair Corr
0.7	IUES	iShares SP 500	Pair Corr
0.69	TPXY	Amundi Index Solutions	Pair Corr
0.65	JPSA	JPM USD Ultra	Pair Corr
0.64	GLUG	LG Clean Water	Pair Corr
0.62	IJPE	iShares MSCI Japan	Pair Corr
0.6	PEF	Invesco FTSE RAFI	Pair Corr
0.6	XSMI	Xtrackers Switzerland	Pair Corr
0.59	PSRW	Invesco FTSE RAFI	Pair Corr
0.58	ZGLDUS	ZKB Gold ETF	Pair Corr
0.58	IDP6	iShares SP SmallCap	Pair Corr
0.56	CHCORP	iShares Core CHF	Pair Corr
0.49	BCCMA	UBS Fund Solutions	Pair Corr
0.4	LYWLD	Lyxor MSCI World	Pair Corr
0.38	ACWIE	UBS MSCI ACWI	Pair Corr
0.76	WCOS	SPDR MSCI World	Pair Corr
0.75	IUSP	iShares Property Yield	Pair Corr
0.73	STSX	SPDR MSCI Europe	Pair Corr
0.73	IWDP	iShares Developed Markets	Pair Corr
0.71	HMJP	HSBC MSCI JAPAN	Pair Corr
0.69	JPHG	Amundi Index Solutions	Pair Corr
0.68	EMLB	PIMCO Emerging Markets	Pair Corr
0.64	IKOR	iShares MSCI Korea	Pair Corr
0.62	CSPXJ	iShares VII PLC	Pair Corr

Related Correlations Analysis

	EVAL	SXLU	STPX	EMAS	GLAC	SXLF	TBIL	STNX	SMCX
EVAL		0.48	0.96	0.9	0.21	-0.33	0.96	0.71	0.86	EVAL
SXLU	0.48		0.54	0.58	0.86	-0.83	0.62	0.86	0.19	SXLU
STPX	0.96	0.54		0.95	0.28	-0.42	0.95	0.74	0.89	STPX
EMAS	0.9	0.58	0.95		0.36	-0.47	0.9	0.74	0.87	EMAS
GLAC	0.21	0.86	0.28	0.36		-0.67	0.31	0.61	0.0	GLAC
SXLF	-0.33	-0.83	-0.42	-0.47	-0.67		-0.47	-0.78	-0.06	SXLF
TBIL	0.96	0.62	0.95	0.9	0.31	-0.47		0.8	0.79	TBIL
STNX	0.71	0.86	0.74	0.74	0.61	-0.78	0.8		0.4	STNX
SMCX	0.86	0.19	0.89	0.87	0.0	-0.06	0.79	0.4		SMCX
	EVAL	SXLU	STPX	EMAS	GLAC	SXLF	TBIL	STNX	SMCX

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

STPX	+ 0.96	EVAL
TBIL	+ 0.96	EVAL
EMAS	+ 0.95	STPX
TBIL	+ 0.95	STPX
EMAS	+ 0.9	EVAL
TBIL	+ 0.9	EMAS

High negative correlations

SXLF	- 0.83	SXLU
STNX	- 0.78	SXLF
SXLF	- 0.67	GLAC
TBIL	- 0.47	SXLF
SXLF	- 0.47	EMAS
SXLF	- 0.42	STPX

SPDR MSCI Constituents 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EVAL	0.49	0.12	0.09	1.11	0.61	(0.55)	1.39	(1.36)	4.17
SXLU	0.75	0.09	0.06	(0.59)	0.82	(0.85)	1.42	(1.58)	5.71
STPX	0.80	0.15	0.06	(5.24)	1.32	(0.85)	1.67	(1.97)	7.40
EMAS	0.76	0.10	0.05	1.85	0.94	(0.76)	1.74	(1.45)	7.62
GLAC	0.12	(0.02)	0.00	0.36	0.00	0.00	0.25	(0.25)	0.62
SXLF	0.74	(0.03)	0.00	(0.13)	0.00	0.00	1.80	(1.73)	5.77
TBIL	0.03	0.00	(0.44)	0.33	0.00	(0.05)	0.09	(0.07)	0.34
STNX	1.02	0.23	0.16	(0.54)	0.95	(1.21)	2.64	(1.91)	6.10
SMCX	0.55	0.05	0.02	0.58	0.90	(0.59)	1.27	(1.01)	5.44

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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