IShares MSCI Correlations

Etfs . Canada . 
Etf . iShares MSCI EAFE
XIN Etf  CAD 41.49  0.32  0.77%   
The current 90-days correlation between iShares MSCI EAFE and Fidelity High Quality is 0.7 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares MSCI moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares MSCI EAFE moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares MSCI Correlation With Market

Good diversification

The correlation between iShares MSCI EAFE and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares MSCI EAFE and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to IShares 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 IShares 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 IShares 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 iShares MSCI EAFE to buy it.

Moving together with IShares Etf

  0.97XEF iShares Core MSCIPairCorr
  0.97ZEA BMO MSCI EAFEPairCorr
  0.98VIU Vanguard FTSE DevelopedPairCorr
  1.0XFH iShares Core MSCIPairCorr
  1.0ZDM BMO MSCI EAFEPairCorr
  0.93WSRD Wealthsimple DevelopedPairCorr
  0.97VDU Vanguard FTSE DevelopedPairCorr
  0.99VEF Vanguard FTSE DevelopedPairCorr
  0.79HURA Global X UraniumPairCorr
  0.81HFU BetaPro SPTSX CappedPairCorr
  0.82HXU BetaPro SP TSXPairCorr
  0.87HQU BetaPro NASDAQ 100PairCorr
  0.93JAPN CI WisdomTree JapanPairCorr
  0.82HXH Global X CanadianPairCorr
  0.77XMU iShares MSCI MinPairCorr
  0.92PAGF Purpose Active GrowthPairCorr
  0.71ZMU BMO Mid TermPairCorr
  0.75PRP Purpose ConservativePairCorr
  0.82XIU iShares SPTSX 60PairCorr
  0.91ZPH BMO Put WritePairCorr
  0.61XDUH iShares Core MSCIPairCorr
  0.68FHG FT AlphaDEX IndustrialsPairCorr
  0.89XDV iShares Canadian SelectPairCorr
  0.84CIC CI Canadian BanksPairCorr
  0.82HAD Global X ActivePairCorr
  0.83CGL iShares Gold BullionPairCorr
  0.93FBT First Trust NYSEPairCorr
  0.96XEU iShares MSCI EuropePairCorr
  0.78CWW iShares Global WaterPairCorr

Related Correlations Analysis


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

A
+ 0.79
F
XOM
+ 0.76
JPM
T
+ 0.73
META
MRK
+ 0.7
A
JPM
+ 0.66
UBER
XOM
+ 0.63
F
  

High negative correlations

A
- 0.85
T
T
- 0.71
F
A
- 0.69
META
F
- 0.61
META
MRK
- 0.53
T
T
- 0.51
MSFT

IShares MSCI Competition 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.28 (0.43) 0.00 (0.26) 0.00 
 0.00 
 2.12 
(2.67)
 14.49 
MSFT  0.76 (0.14) 0.00 (0.13) 0.00 
 0.00 
 1.77 
(1.98)
 5.08 
UBER  1.52 (0.01)(0.01) 0.07  1.95 
(1.55)
 3.62 
(3.30)
 9.09 
F  1.33  0.14  0.11  0.17  1.46 
(1.56)
 3.62 
(1.71)
 16.35 
T  0.98 (0.16) 0.00 (0.94) 0.00 
 0.00 
 1.84 
(2.32)
 6.47 
A  1.30  0.30  0.24  0.31  0.94 
(1.46)
 3.82 
(2.04)
 10.46 
CRM  1.64 (0.14) 0.00 (0.04) 0.00 
 0.00 
 3.59 
(3.61)
 8.74 
JPM  0.81  0.04  0.03  0.13  1.04 
(0.79)
 1.67 
(1.74)
 4.74 
MRK  1.17  0.08  0.04  0.19  1.16 
(1.38)
 1.80 
(2.36)
 11.45 
XOM  0.84  0.08  0.03  0.26  1.04 
(0.82)
 1.77 
(1.93)
 4.70 

Be your own money manager

Our tools can tell you how much better you can do entering a position in IShares 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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