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.

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 housing.

Moving together with SPDR Etf

0.99	IEFA	iShares Core MSCI Aggressive Push	Pair Corr
0.85	VEU	Vanguard FTSE All	Pair Corr
0.82	EFA	iShares MSCI EAFE Aggressive Push	Pair Corr
0.85	IXUS	iShares Core MSCI	Pair Corr
0.84	IDEV	iShares Core MSCI	Pair Corr
0.82	ESGD	iShares ESG Aware	Pair Corr
0.86	DFAX	Dimensional World	Pair Corr
0.96	KEMQ	KraneShares Emerging	Pair Corr

Moving against SPDR Etf

0.52	MPAY	Exchange Traded Concepts	Pair Corr
0.47	MCD	McDonalds	Pair Corr
0.46	TRV	The Travelers Companies	Pair Corr
0.37	WMT	Walmart	Pair Corr

Related Correlations Analysis

	GWX	GMF	DGT	GII	EWX
GWX		0.8	0.98	0.92	0.81	GWX
GMF	0.8		0.81	0.74	0.99	GMF
DGT	0.98	0.81		0.93	0.82	DGT
GII	0.92	0.74	0.93		0.76	GII
EWX	0.81	0.99	0.82	0.76		EWX
	GWX	GMF	DGT	GII	EWX

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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
GWX	0.51	0.13	0.00	0.55	0.22	(0.62)	1.25	(0.87)	3.21
GMF	0.56	0.24	(0.01)	(4.47)	0.34	(0.66)	1.22	(1.09)	4.66
DGT	0.46	0.02	(0.08)	0.26	0.22	(0.50)	1.37	(1.02)	3.05
GII	0.52	0.06	(0.20)	0.62	0.47	(0.62)	1.15	(0.97)	2.94
EWX	0.56	0.21	(0.02)	20.29	0.51	(0.64)	1.02	(1.37)	5.36

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