HSBC MSCI Correlations

HTWN Etf

USD 124.62 1.14 0.91%

The current 90-days correlation between HSBC MSCI Taiwan and iShares MSCI Japan is -0.14 (i.e., Good diversification). The correlation of HSBC 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. If the correlation is 0, the equities are not correlated; they are entirely random.

HSBC MSCI Correlation With Market

Poor diversification

The correlation between HSBC MSCI Taiwan and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HSBC MSCI Taiwan and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to HSBC MSCI could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace HSBC MSCI when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back HSBC MSCI - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling HSBC MSCI Taiwan to buy it.

Moving together with HSBC Etf

0.97	XMTW	Xtrackers MSCI Taiwan	Pair Corr
0.86	DCEUAS	UBS Fund Solutions	Pair Corr
0.98	AUEM	Amundi Index Solutions	Pair Corr
0.95	SJPA	iShares Core MSCI	Pair Corr
0.97	HMXJ	HSBC MSCI Pacific	Pair Corr
0.7	US3	Amundi Treasury Bond	Pair Corr
0.92	SAUS	iShares MSCI Australia	Pair Corr
0.97	EGUSAS	UBS Fund Solutions	Pair Corr
0.93	TDIV	VanEck Morningstar	Pair Corr
0.96	SX5D	Invesco EURO STOXX	Pair Corr
0.81	RS2U	Amundi Index Solutions	Pair Corr
0.94	EMHD	Invesco FTSE Emerging	Pair Corr
0.91	ESGO	AuAg Gold Mining	Pair Corr
0.92	BCCMA	UBS Fund Solutions	Pair Corr
0.89	MLPD	Invesco Morningstar	Pair Corr
0.83	XMKO	Xtrackers MSCI Korea	Pair Corr
0.84	MIDD	iShares FTSE 250	Pair Corr
0.65	IEGC	iShares Core Govt	Pair Corr
0.9	GGMUSY	UBS ETF plc	Pair Corr
0.9	AUHEUA	UBS ETF plc	Pair Corr
0.94	C50	Amundi Index Solutions	Pair Corr
0.92	IWQU	iShares Edge MSCI	Pair Corr
0.97	IEEM	iShares MSCI EM	Pair Corr
0.94	JPHG	Amundi Index Solutions	Pair Corr
0.89	GDXJ	VanEck Junior Gold	Pair Corr
0.94	FGQC	Fidelity Global Qual	Pair Corr
0.94	HIWO	HSBC MSCI World	Pair Corr
0.97	IEMS	iShares MSCI EM	Pair Corr
0.84	STWX	SPDR MSCI Europe	Pair Corr
0.9	LYMEU	Lyxor MSCI Europe	Pair Corr
0.94	IUES	iShares SP 500	Pair Corr
0.91	SBEMA	UBSFund Solutions	Pair Corr
0.91	UCAP	Ossiam Shiller Barclays	Pair Corr
0.89	CNYA	iShares MSCI China	Pair Corr
0.88	IUKP	iShares UK Property	Pair Corr

Related Correlations Analysis

	XGSD	IECH	CCXAE	FLXK	AWSRIS	RGLDOH	INRG	IJPC
XGSD		0.7	0.91	0.95	0.8	0.9	0.92	0.96	XGSD
IECH	0.7		0.71	0.79	0.46	0.7	0.77	0.73	IECH
CCXAE	0.91	0.71		0.93	0.82	0.97	0.92	0.84	CCXAE
FLXK	0.95	0.79	0.93		0.75	0.93	0.93	0.93	FLXK
AWSRIS	0.8	0.46	0.82	0.75		0.76	0.74	0.76	AWSRIS
RGLDOH	0.9	0.7	0.97	0.93	0.76		0.92	0.85	RGLDOH
INRG	0.92	0.77	0.92	0.93	0.74	0.92		0.88	INRG
IJPC	0.96	0.73	0.84	0.93	0.76	0.85	0.88		IJPC
	XGSD	IECH	CCXAE	FLXK	AWSRIS	RGLDOH	INRG	IJPC

HSBC MSCI Constituents Risk-Adjusted Indicators

There is a big difference between HSBC Etf performing well and HSBC 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 HSBC 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
XGSD	0.53	0.12	0.05	1.53	0.53	(0.58)	1.32	(1.03)	2.90
IECH	0.09	0.00	(0.36)	(0.03)	0.00	(0.23)	0.22	(0.22)	0.65
CCXAE	0.83	0.20	0.08	3.23	1.04	(0.90)	1.73	(2.01)	6.54
FLXK	1.56	0.82	0.43	45.10	1.11	(1.97)	4.11	(2.81)	12.03
AWSRIS	0.59	0.06	(0.02)	0.90	0.71	(0.62)	1.45	(1.16)	3.16
RGLDOH	1.20	0.35	0.13	8.80	1.54	(1.34)	2.70	(2.24)	10.35
INRG	1.19	0.03	(0.01)	0.17	2.46	(1.13)	2.52	(2.12)	11.32
IJPC	0.85	0.25	0.17	(11.45)	0.66	(0.98)	2.15	(1.61)	5.22

Be your own money manager

Our tools can tell you how much better you can do entering a position in HSBC MSCI without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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