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 0.82 (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

Good diversification

The correlation between SPDR MSCI ACWI and DJI is -0.1 (i.e., Good 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

0.98	VEA	Vanguard FTSE Developed Aggressive Push	Pair Corr
0.99	IEFA	iShares Core MSCI Aggressive Push	Pair Corr
0.98	VEU	Vanguard FTSE All	Pair Corr
0.96	EFA	iShares MSCI EAFE Aggressive Push	Pair Corr
0.98	IXUS	iShares Core MSCI	Pair Corr
0.98	SPDW	SPDR SP World	Pair Corr
0.98	IDEV	iShares Core MSCI	Pair Corr
0.96	ESGD	iShares ESG Aware	Pair Corr
0.98	JIRE	JP Morgan Exchange	Pair Corr
0.98	DFAX	Dimensional World	Pair Corr
0.77	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.99	ITDD	iShares Trust	Pair Corr
0.67	PMBS	PIMCO Mortgage Backed	Pair Corr
0.78	GRW	TCW Compounders ETF	Pair Corr
0.94	MPRO	Northern Lights	Pair Corr
0.93	FXR	First Trust Industri	Pair Corr
0.97	VGT	Vanguard Information	Pair Corr
0.94	SPGP	Invesco SP 500	Pair Corr
0.78	Z	Zillow Group Class Earnings Call This Week	Pair Corr
0.93	SSDRF	SSgA SPDR ETFs	Pair Corr
0.95	EWQ	iShares MSCI France	Pair Corr
0.97	IUSG	iShares Core SP	Pair Corr
0.98	IXP	iShares Global Comm	Pair Corr
0.87	GBTC	Grayscale Bitcoin Trust	Pair Corr

Moving against SPDR Etf

0.81

MPAY

Exchange Traded Concepts

Pair Corr

Related Correlations Analysis

	GWX	GMF	DGT	GII	EWX
GWX		0.94	0.97	0.93	0.95	GWX
GMF	0.94		0.96	0.89	0.99	GMF
DGT	0.97	0.96		0.96	0.96	DGT
GII	0.93	0.89	0.96		0.91	GII
EWX	0.95	0.99	0.96	0.91		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	0.50	0.26	0.05	29.34	0.00	(0.62)	1.40	(0.87)	3.21
GMF	0.58	0.12	0.04	0.43	0.22	(0.69)	1.80	(1.09)	4.66
DGT	0.51	0.26	0.00	(2.05)	0.17	(0.57)	1.43	(1.04)	3.54
GII	0.55	0.12	(0.16)	10.79	0.51	(0.65)	1.19	(1.18)	3.23
EWX	0.57	0.10	0.01	0.40	0.44	(0.66)	1.46	(1.37)	5.36

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