SPDR MSCI Correlations
| STPX Etf | CHF 305.60 7.20 2.30% |
The current 90-days correlation between SPDR MSCI Europe and Invesco Materials SP is -0.03 (i.e., Good 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
Poor diversification
The correlation between SPDR MSCI Europe 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 SPDR MSCI Europe and DJI in the same portfolio, assuming nothing else is changed.
SPDR |
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 Europe to buy it.
Moving together with SPDR Etf
| 0.91 | STQX | SPDR MSCI Europe | PairCorr |
| 0.93 | LYBRE | Multi Units Luxembourg | PairCorr |
| 0.92 | XLIS | Invesco Industrials | PairCorr |
| 0.93 | WMAT | SPDR MSCI World | PairCorr |
| 0.93 | XLBS | Invesco Materials | PairCorr |
| 0.74 | DCEUAS | UBS Fund Solutions | PairCorr |
| 0.98 | AUEM | Amundi Index Solutions | PairCorr |
| 0.9 | SJPA | iShares Core MSCI | PairCorr |
| 0.94 | HMXJ | HSBC MSCI Pacific | PairCorr |
| 0.64 | US3 | Amundi Treasury Bond | PairCorr |
| 0.77 | SAUS | iShares MSCI Australia | PairCorr |
| 0.98 | EGUSAS | UBS Fund Solutions | PairCorr |
| 0.95 | S6EW | Ossiam STOXX Europe | PairCorr |
| 0.85 | HMJP | HSBC MSCI JAPAN | PairCorr |
| 0.94 | PEHH | Invesco FTSE RAFI | PairCorr |
| 0.94 | C2MV | Ossiam Europe ESG | PairCorr |
| 0.89 | EUN | iShares STOXX Europe | PairCorr |
| 0.92 | UCAP | Ossiam Shiller Barclays | PairCorr |
| 0.71 | IE0C | iShares Corp Bond | PairCorr |
| 0.94 | FLXK | Franklin FTSE Korea | PairCorr |
| 0.94 | EMLB | PIMCO Emerging Markets | PairCorr |
| 0.73 | EUNE | iShares Core EURO | PairCorr |
| 0.92 | DJMC | iShares EURO STOXX | PairCorr |
| 0.92 | LYMEU | Lyxor MSCI Europe | PairCorr |
| 0.88 | IJPN | iShares MSCI Japan | PairCorr |
| 0.96 | HIEM | HSBC MSCI Emerging | PairCorr |
| 0.7 | IEGC | iShares Core Govt | PairCorr |
| 0.88 | TDIV | VanEck Morningstar | PairCorr |
| 0.92 | QDIV | iShares MSCI USA | PairCorr |
| 0.88 | MIDD | iShares FTSE 250 | PairCorr |
| 0.9 | GLDV | SPDR SP Global | PairCorr |
| 0.65 | XMKO | Xtrackers MSCI Korea | PairCorr |
| 0.91 | CNYA | iShares MSCI China | PairCorr |
| 0.95 | HIWO | HSBC MSCI World | PairCorr |
| 0.74 | ESGEMD | UBSFund Solutions | PairCorr |
Related Correlations Analysis
| 0.86 | 0.86 | 0.85 | 0.0 | 0.85 | STQX | ||
| 0.86 | 0.96 | 0.99 | 0.0 | 0.98 | LYBRE | ||
| 0.86 | 0.96 | 0.97 | 0.0 | 0.97 | XLIS | ||
| 0.85 | 0.99 | 0.97 | 0.0 | 0.99 | WMAT | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | IUIS | ||
| 0.85 | 0.98 | 0.97 | 0.99 | 0.0 | XLBS | ||
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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| STQX | 0.79 | 0.08 | 0.06 | 0.25 | 1.19 | 1.99 | 7.28 | |||
| LYBRE | 1.37 | 0.42 | 0.18 | 1.66 | 1.76 | 3.49 | 10.71 | |||
| XLIS | 0.55 | 0.17 | 0.21 | 0.95 | 0.50 | 1.26 | 3.42 | |||
| WMAT | 0.97 | 0.25 | 0.18 | 2.15 | 1.01 | 2.33 | 7.20 | |||
| IUIS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| XLBS | 0.83 | 0.20 | 0.18 | 3.35 | 0.82 | 1.89 | 6.01 |
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.Did you try this?
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