SPDR MSCI Correlations

CWI Etf  USD 33.52  0.62  1.88%   
The current 90-days correlation between SPDR MSCI ACWI and SPDR SP International is 0.84 (i.e., Very poor 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 0.61 (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.
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 housing.

Moving together with SPDR Etf

  0.99IEFA iShares Core MSCI Aggressive PushPairCorr
  0.85VEU Vanguard FTSE AllPairCorr
  0.82EFA iShares MSCI EAFE Aggressive PushPairCorr
  0.85IXUS iShares Core MSCIPairCorr
  0.84IDEV iShares Core MSCIPairCorr
  0.82ESGD iShares ESG AwarePairCorr
  0.86DFAX Dimensional WorldPairCorr
  0.96KEMQ KraneShares EmergingPairCorr

Moving against SPDR Etf

  0.52MPAY Exchange Traded ConceptsPairCorr
  0.47MCD McDonaldsPairCorr
  0.46TRV The Travelers CompaniesPairCorr
  0.37WMT WalmartPairCorr

Related Correlations Analysis

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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.