Correlation Between Fidelity MSCI and Macquarie ETF
Can any of the company-specific risk be diversified away by investing in both Fidelity MSCI and Macquarie ETF at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Fidelity MSCI and Macquarie ETF into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fidelity MSCI Energy and Macquarie ETF Trust, you can compare the effects of market volatilities on Fidelity MSCI and Macquarie ETF and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Fidelity MSCI with a short position of Macquarie ETF. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fidelity MSCI and Macquarie ETF.
Diversification Opportunities for Fidelity MSCI and Macquarie ETF
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Fidelity and Macquarie is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity MSCI Energy and Macquarie ETF Trust in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Macquarie ETF Trust and Fidelity MSCI is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Fidelity MSCI Energy are associated (or correlated) with Macquarie ETF. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Macquarie ETF Trust has no effect on the direction of Fidelity MSCI i.e., Fidelity MSCI and Macquarie ETF go up and down completely randomly.
Pair Corralation between Fidelity MSCI and Macquarie ETF
If you would invest (100.00) in Macquarie ETF Trust on July 20, 2025 and sell it today you would earn a total of 100.00 from holding Macquarie ETF Trust or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Fidelity MSCI Energy vs. Macquarie ETF Trust
Performance |
| Timeline |
| Fidelity MSCI Energy |
Risk-Adjusted Performance
Soft
Weak | Strong |
| Macquarie ETF Trust |
Fidelity MSCI and Macquarie ETF Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fidelity MSCI and Macquarie ETF
The main advantage of trading using opposite Fidelity MSCI and Macquarie ETF positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fidelity MSCI position performs unexpectedly, Macquarie ETF can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Macquarie ETF will offset losses from the drop in Macquarie ETF's long position.| Fidelity MSCI vs. Fidelity MSCI Industrials | Fidelity MSCI vs. iShares MSCI USA | Fidelity MSCI vs. Goldman Sachs ActiveBeta | Fidelity MSCI vs. Freedom 100 Emerging |
| Macquarie ETF vs. SmartETFs Smart Transportation | Macquarie ETF vs. FlexShares Real Assets | Macquarie ETF vs. Harbor ETF Trust | Macquarie ETF vs. ProShares Ultra MSCI |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Bonds Directory module to find actively traded corporate debentures issued by US companies.
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