IShares MSCI Correlations

Etfs . USA . 
Etf . iShares MSCI Canada
EWC Etf  USD 40.83  0.30  0.74%   
The current 90-days correlation between iShares MSCI Canada and iShares MSCI Australia is 0.9 (i.e., Almost no diversification). The correlation of IShares 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.

IShares MSCI Correlation With Market

Very poor diversification

The correlation between iShares MSCI Canada and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares MSCI Canada and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with IShares Etf
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in iShares MSCI Canada. 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 IShares Etf

  1.0BBCA JPMorgan BetaBuilders Low VolatilityPairCorr
  0.71EWY iShares MSCI SouthPairCorr
  0.89EWA iShares MSCI AustraliaPairCorr
  0.83KSA iShares MSCI SaudiPairCorr
  0.63USD ProShares Ultra SemiPairCorr
  0.73TECL Direxion Daily TechnologyPairCorr
  0.76ROM ProShares Ultra TechPairCorr
  0.77QLD ProShares Ultra QQQPairCorr
  0.72SMH VanEck Semiconductor ETFPairCorr
  0.71SOXX iShares Semiconductor ETFPairCorr
  0.77IYW iShares Technology ETFPairCorr
  0.79GE GE Aerospace Earnings Call This WeekPairCorr
  0.83JPM JPMorgan ChasePairCorr
  0.61MMM 3M CompanyPairCorr
  0.89BA Boeing Earnings Call This WeekPairCorr
  0.72CSCO Cisco SystemsPairCorr
  0.66DIS Walt DisneyPairCorr
  0.66AA Alcoa CorpPairCorr
  0.62HD Home DepotPairCorr
  0.66WMT Walmart Aggressive PushPairCorr

Related Correlations Analysis

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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   
EWL
+ 0.96
EWG
EWL
+ 0.96
EWU
EWU
+ 0.92
EWG
EWS
+ 0.92
EWU
EWS
+ 0.84
EWL
EWS
+ 0.77
EWG
  
High negative correlations   
EWG
- 0.12
EWA

IShares MSCI Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares 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 IShares 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.

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