SPDR MSCI Correlations

CWI Etf

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The current 90-days correlation between SPDR MSCI ACWI and Invesco FTSE RAFI is 0.95 (i.e., Almost no 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

Poor diversification

The correlation between SPDR MSCI ACWI and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR MSCI ACWI and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in SPDR MSCI ACWI. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in private.

Moving together with SPDR Etf

0.98	VEA	Vanguard FTSE Developed	Pair Corr
0.97	IEFA	iShares Core MSCI	Pair Corr
1.0	VEU	Vanguard FTSE All	Pair Corr
0.98	EFA	iShares MSCI EAFE	Pair Corr
0.99	IXUS	iShares Core MSCI	Pair Corr
0.98	SPDW	SPDR SP World	Pair Corr
0.95	IDEV	iShares Core MSCI	Pair Corr
0.98	ESGD	iShares ESG Aware	Pair Corr
0.97	JIRE	JP Morgan Exchange	Pair Corr
0.97	DFAX	Dimensional World	Pair Corr
0.81	MUU	Direxion Daily MU Trending	Pair Corr
0.81	MULL	GraniteShares 2x Long Trending	Pair Corr
0.71	AGQ	ProShares Ultra Silver	Pair Corr
0.67	KORU	Direxion Daily South	Pair Corr
0.64	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.63	SHNY	Microsectors Gold	Pair Corr
0.65	SIXS	6 Meridian Small	Pair Corr
0.86	AGEM	abrdn Emerging Markets	Pair Corr
0.85	CPER	United States Copper	Pair Corr
0.87	USCL	iShares Climate Conscious	Pair Corr
0.83	PBJA	PGIM Rock ETF	Pair Corr
0.86	CPSU	Calamos SP 500	Pair Corr
0.8	SCZ	iShares MSCI EAFE	Pair Corr
0.63	GBUG	Sprott Active Gold	Pair Corr
0.96	ITDJ	iShares Trust	Pair Corr
0.91	CSD	Invesco SP Spin	Pair Corr
0.9	FTBI	First Trust Exchange	Pair Corr
0.81	JADE	JP Morgan Exchange	Pair Corr
0.87	QLC	FlexShares Quality Large	Pair Corr
0.68	AVUV	Avantis Small Cap	Pair Corr
0.89	QQJG	Invesco ESG NASDAQ	Pair Corr
0.64	CLOX	Series Portfolios Trust	Pair Corr
0.75	FLCV	Federated Hermes ETF	Pair Corr
0.66	PLTM	GraniteShares Platinum	Pair Corr

Related Correlations Analysis

	PXF	XSOE	TNA	EWG	IEV	EWW	GUSA	MDYV	VSTCX	PHO
PXF		0.37	0.49	0.33	0.93	0.87	0.79	0.76	0.46	-0.09	PXF
XSOE	0.37		0.39	0.25	0.43	0.18	0.72	0.16	0.32	0.37	XSOE
TNA	0.49	0.39		0.79	0.63	0.43	0.7	0.82	0.64	0.49	TNA
EWG	0.33	0.25	0.79		0.6	0.3	0.43	0.68	0.3	0.51	EWG
IEV	0.93	0.43	0.63	0.6		0.79	0.78	0.81	0.42	0.18	IEV
EWW	0.87	0.18	0.43	0.3	0.79		0.65	0.74	0.37	-0.27	EWW
GUSA	0.79	0.72	0.7	0.43	0.78	0.65		0.69	0.64	0.22	GUSA
MDYV	0.76	0.16	0.82	0.68	0.81	0.74	0.69		0.6	0.21	MDYV
VSTCX	0.46	0.32	0.64	0.3	0.42	0.37	0.64	0.6		0.24	VSTCX
PHO	-0.09	0.37	0.49	0.51	0.18	-0.27	0.22	0.21	0.24		PHO
	PXF	XSOE	TNA	EWG	IEV	EWW	GUSA	MDYV	VSTCX	PHO

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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

IEV	+ 0.93	PXF
EWW	+ 0.87	PXF
MDYV	+ 0.82	TNA
MDYV	+ 0.81	IEV
GUSA	+ 0.79	PXF
EWG	+ 0.79	TNA

High negative correlations

PHO	- 0.27	EWW
PHO	- 0.09	PXF

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
PXF	0.56	0.06	0.05	0.15	0.70	(0.57)	1.21	(1.29)	2.83
XSOE	0.68	(0.02)	(0.03)	0.05	0.93	(0.71)	1.30	(1.29)	4.84
TNA	2.93	(0.15)	0.02	0.04	3.90	(2.70)	5.80	(5.96)	16.53
EWG	0.68	(0.02)	(0.03)	0.04	0.83	(0.69)	1.21	(1.35)	3.33
IEV	0.63	0.04	0.03	0.12	0.59	(0.69)	1.29	(1.12)	2.64
EWW	0.95	0.06	0.03	0.16	0.96	(1.05)	1.93	(1.69)	4.35
GUSA	0.59	(0.01)	(0.02)	0.06	0.87	(0.54)	1.18	(1.23)	3.40
MDYV	0.72	(0.03)	(0.02)	0.04	0.95	(0.70)	1.83	(1.33)	4.01
VSTCX	0.97	(0.13)	0.00	(0.02)	0.00	0.00	1.82	(2.14)	10.35
PHO	0.69	(0.06)	(0.08)	0.00	0.87	(0.64)	1.33	(1.31)	4.04

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