IShares MSCI Correlations

XWD Etf

CAD 111.86 0.70 0.62%

The current 90-days correlation between iShares MSCI World and iShares SPTSX Global is 0.19 (i.e., Average 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 World 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 World and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares MSCI World 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 World to buy it.

Moving together with IShares Etf

0.89	XEQT	iShares Core Equity	Pair Corr
0.95	XAW	iShares Core MSCI	Pair Corr
0.89	DXG	Dynamic Active Global	Pair Corr
0.96	VXC	Vanguard FTSE Global	Pair Corr
0.9	VEQT	Vanguard All Equity	Pair Corr
0.62	HGU	BetaPro Canadian Gold	Pair Corr
0.64	ZGD	BMO Equal Weight	Pair Corr
0.64	ZJG	BMO Junior Gold	Pair Corr
0.63	HGGG	Harvest Global Gold	Pair Corr
0.68	XGD	iShares SPTSX Global	Pair Corr
0.62	HEP	Global X Enhanced	Pair Corr
0.88	XBAL	iShares Core Balanced	Pair Corr
0.67	COPP	Global X Copper	Pair Corr
0.68	TGFI	TD Active Global	Pair Corr
0.61	XSI	iShares Short Term	Pair Corr
0.7	HXU	BetaPro SP TSX	Pair Corr
0.75	BLCK	First Trust Indxx	Pair Corr
0.76	VCN	Vanguard FTSE Canada	Pair Corr
0.76	ZSML	BMO SP Small	Pair Corr
0.71	HURA	Global X Uranium	Pair Corr
0.78	XSEM	iShares ESG Aware	Pair Corr

Related Correlations Analysis

	VEE	VGG	QCN	XBAL	XEI	XEC	NUBF	NSCE	XGD
VEE		0.69	0.89	0.96	0.79	0.98	0.83	-0.8	0.89	VEE
VGG	0.69		0.51	0.72	0.47	0.61	0.59	-0.34	0.44	VGG
QCN	0.89	0.51		0.94	0.81	0.92	0.7	-0.66	0.97	QCN
XBAL	0.96	0.72	0.94		0.81	0.96	0.82	-0.69	0.91	XBAL
XEI	0.79	0.47	0.81	0.81		0.86	0.82	-0.57	0.79	XEI
XEC	0.98	0.61	0.92	0.96	0.86		0.84	-0.81	0.92	XEC
NUBF	0.83	0.59	0.7	0.82	0.82	0.84		-0.64	0.71	NUBF
NSCE	-0.8	-0.34	-0.66	-0.69	-0.57	-0.81	-0.64		-0.73	NSCE
XGD	0.89	0.44	0.97	0.91	0.79	0.92	0.71	-0.73		XGD
	VEE	VGG	QCN	XBAL	XEI	XEC	NUBF	NSCE	XGD

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

XEC	+ 0.98	VEE
XGD	+ 0.97	QCN
XBAL	+ 0.96	VEE
XEC	+ 0.96	XBAL
XBAL	+ 0.94	QCN
XEC	+ 0.92	QCN

High negative correlations

NSCE	- 0.81	XEC
NSCE	- 0.8	VEE
XGD	- 0.73	NSCE
NSCE	- 0.69	XBAL
NSCE	- 0.66	QCN
NSCE	- 0.64	NUBF

IShares MSCI Constituents 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
VEE	0.56	0.05	0.01	0.20	0.52	(0.60)	1.34	(1.03)	3.80
VGG	0.54	(0.03)	(0.10)	0.03	0.59	(0.62)	1.30	(1.05)	3.13
QCN	0.62	0.14	0.10	0.32	0.82	(0.67)	1.47	(1.05)	4.25
XBAL	0.31	0.03	(0.04)	0.15	0.34	(0.32)	0.71	(0.73)	2.01
XEI	0.39	0.15	0.13	1.24	0.25	(0.44)	0.93	(0.68)	2.39
XEC	0.63	0.15	0.15	0.41	0.44	(0.72)	1.42	(1.04)	4.63
NUBF	0.26	0.02	(0.15)	0.68	0.26	(0.29)	0.76	(0.56)	1.92
NSCE	0.50	(0.06)	0.00	(0.11)	0.00	0.00	0.99	(1.25)	4.91
XGD	1.95	0.52	0.14	0.58	2.86	(2.01)	4.55	(4.21)	16.14

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.

Did you try this?

Run Sync Your Broker Now

Sync Your Broker

Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors.

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC