IShares MSCI Correlations

Etfs . Canada . 
Etf . iShares MSCI Emerging
XEM Etf  CAD 44.02  2.32  5.01%   
The current 90-days correlation between iShares MSCI Emerging and iShares NASDAQ 100 is 0.61 (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 Emerging moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares MSCI Correlation With Market

Poor diversification

The correlation between iShares MSCI Emerging and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares MSCI Emerging and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to IShares 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 IShares 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 IShares 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 iShares MSCI Emerging to buy it.

Moving together with IShares Etf

  0.98VEE Vanguard FTSE EmergingPairCorr
  1.0ZEM BMO MSCI EmergingPairCorr
  1.0XEC iShares Core MSCIPairCorr
  0.99ZLE BMO Low VolatilityPairCorr
  1.0HXEM Global X EmergingPairCorr
  0.97XMM iShares MSCI MinPairCorr
  0.77HOU BetaPro Crude OilPairCorr
  0.64FHE First Trust IndxxPairCorr
  0.92PINC Purpose Multi AssetPairCorr
  0.82HURA Global X UraniumPairCorr
  0.96XBAL iShares Core BalancedPairCorr
  0.9XSMH iShares SP SmallPairCorr
  0.75XDIV iShares Core MSCIPairCorr
  0.91CYH iShares Global MonthlyPairCorr
  0.86PINV Purpose Global InnovatorsPairCorr
  0.67SBT Silver Bullion TrustPairCorr
  0.92XINC iShares Core IncomePairCorr
  0.85CLF iShares 1 5PairCorr
  0.82DXAU Dynamic Active GlobalPairCorr
  0.93EIT-UN Canoe EIT IncomePairCorr
  0.75OILU SavvyLong Geared CrudePairCorr
  0.83HEU BetaPro SP TSXPairCorr
  0.75CORE PIMCO Canadian CorePairCorr
  0.91VCN Vanguard FTSE CanadaPairCorr
  0.77PFIN PICTON IncomePairCorr
  0.89TGFI TD Active GlobalPairCorr
  0.9VSB Vanguard Canadian ShortPairCorr
  0.95RPDH RBC Quant EuropeanPairCorr
  0.97QDX Mackenzie InternationalPairCorr
  0.93RID RBC Quant EAFEPairCorr
  0.89XDG iShares Core MSCIPairCorr
  0.9HGGG Harvest Global GoldPairCorr
  0.82HXU BetaPro SP TSXPairCorr

Moving against IShares Etf

  0.86HXD BetaPro SPTSX 60PairCorr
  0.86HED BetaPro SPTSX CappedPairCorr
  0.51HBLK Blockchain TechnologiesPairCorr
  0.32HIU BetaPro SP 500PairCorr

Related Correlations Analysis


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

CRM
+ 0.92
MSFT
XOM
+ 0.92
MRK
A
+ 0.85
UBER
UBER
+ 0.84
MSFT
A
+ 0.83
MSFT
MRK
+ 0.79
T
  

High negative correlations

XOM
- 0.95
MSFT
MRK
- 0.92
MSFT
XOM
- 0.9
CRM
CRM
- 0.87
T
T
- 0.87
MSFT
XOM
- 0.85
A

IShares MSCI Competition 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.45  0.03  0.01  0.08  1.59 
(1.56)
 2.38 
(2.81)
 13.69 
MSFT  1.35 (0.25) 0.00 (0.52) 0.00 
 0.00 
 2.19 
(2.87)
 13.28 
UBER  1.58 (0.15) 0.00 (0.26) 0.00 
 0.00 
 2.70 
(3.82)
 11.09 
F  1.31 (0.07) 0.00 (0.03) 0.00 
 0.00 
 3.61 
(2.59)
 9.82 
T  1.06  0.19  0.12 (0.62) 0.93 
(1.27)
 3.87 
(1.76)
 7.44 
A  1.22 (0.45) 0.00 (0.45) 0.00 
 0.00 
 2.48 
(2.73)
 7.20 
CRM  1.82 (0.20) 0.00  0.47  0.00 
 0.00 
 3.66 
(4.75)
 12.37 
JPM  1.27 (0.06)(0.02) 0.00  1.84 
(1.28)
 2.34 
(3.11)
 8.17 
MRK  1.21  0.19  0.11  0.54  1.27 
(1.29)
 2.54 
(2.06)
 7.10 
XOM  1.32  0.44  0.27  2.84  1.08 
(1.56)
 2.90 
(2.44)
 6.83 

Be your own money manager

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