IShares MSCI Correlations

XMM Etf

CAD 31.91 1.05 3.19%

The current 90-days correlation between iShares MSCI Min and iShares NASDAQ 100 is 0.52 (i.e., Very weak 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 Min 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 Min and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares MSCI Min 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 Min to buy it.

Moving together with IShares Etf

0.98	VEE	Vanguard FTSE Emerging	Pair Corr
0.97	ZEM	BMO MSCI Emerging	Pair Corr
0.97	XEC	iShares Core MSCI	Pair Corr
0.97	XEM	iShares MSCI Emerging	Pair Corr
0.96	ZLE	BMO Low Volatility	Pair Corr
0.97	HXEM	Global X Emerging	Pair Corr
0.69	HOU	BetaPro Crude Oil	Pair Corr
0.85	PINC	Purpose Multi Asset	Pair Corr
0.83	HURA	Global X Uranium	Pair Corr
0.96	XBAL	iShares Core Balanced	Pair Corr
0.86	XSMH	iShares SP Small	Pair Corr
0.68	XDIV	iShares Core MSCI	Pair Corr
0.84	CYH	iShares Global Monthly	Pair Corr
0.85	PINV	Purpose Global Innovators	Pair Corr
0.64	SBT	Silver Bullion Trust	Pair Corr
0.92	XINC	iShares Core Income	Pair Corr
0.82	CLF	iShares 1 5	Pair Corr
0.77	DXAU	Dynamic Active Global	Pair Corr
0.88	EIT-UN	Canoe EIT Income	Pair Corr
0.68	OILU	SavvyLong Geared Crude	Pair Corr
0.77	HEU	BetaPro SP TSX	Pair Corr
0.79	CORE	PIMCO Canadian Core	Pair Corr
0.87	VCN	Vanguard FTSE Canada	Pair Corr
0.75	PFIN	PICTON Income	Pair Corr
0.86	TGFI	TD Active Global	Pair Corr
0.87	VSB	Vanguard Canadian Short	Pair Corr
0.89	RPDH	RBC Quant European	Pair Corr
0.94	QDX	Mackenzie International	Pair Corr
0.89	RID	RBC Quant EAFE	Pair Corr
0.85	XDG	iShares Core MSCI	Pair Corr
0.85	HGGG	Harvest Global Gold	Pair Corr
0.78	HXU	BetaPro SP TSX	Pair Corr

Moving against IShares Etf

0.81	HXD	BetaPro SPTSX 60	Pair Corr
0.81	HED	BetaPro SPTSX Capped	Pair Corr
0.41	HBLK	Blockchain Technologies	Pair Corr
0.33	HIU	BetaPro SP 500	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.08	-0.11	0.0	0.13	-0.21	-0.03	0.14	-0.01	0.15	META
MSFT	-0.08		0.84	-0.57	-0.87	0.83	0.92	0.41	-0.92	-0.95	MSFT
UBER	-0.11	0.84		-0.53	-0.77	0.85	0.76	0.25	-0.82	-0.83	UBER
F	0.0	-0.57	-0.53		0.35	-0.43	-0.45	-0.1	0.64	0.58	F
T	0.13	-0.87	-0.77	0.35		-0.71	-0.87	-0.34	0.79	0.79	T
A	-0.21	0.83	0.85	-0.43	-0.71		0.71	0.36	-0.75	-0.85	A
CRM	-0.03	0.92	0.76	-0.45	-0.87	0.71		0.57	-0.84	-0.9	CRM
JPM	0.14	0.41	0.25	-0.1	-0.34	0.36	0.57		-0.25	-0.43	JPM
MRK	-0.01	-0.92	-0.82	0.64	0.79	-0.75	-0.84	-0.25		0.92	MRK
XOM	0.15	-0.95	-0.83	0.58	0.79	-0.85	-0.9	-0.43	0.92		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum 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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