IShares MSCI Correlations

XWD Etf

CAD 110.25 0.10 0.09%

The current 90-days correlation between iShares MSCI World and Invesco SP 500 is 0.81 (i.e., Very 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 World moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares MSCI Correlation With Market

Average diversification

The correlation between iShares MSCI World and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares MSCI World 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 World to buy it.

Moving together with IShares Etf

0.99	XEQT	iShares Core Equity	Pair Corr
1.0	XAW	iShares Core MSCI	Pair Corr
0.88	DXG	Dynamic Active Global	Pair Corr
1.0	VXC	Vanguard FTSE Global	Pair Corr
0.89	NSGE	NBI Sustainable Global	Pair Corr
0.99	VEQT	Vanguard All Equity	Pair Corr
0.65	XMW	iShares MSCI Min	Pair Corr
0.9	CGRA	CI Global Real	Pair Corr
0.91	XIU	iShares SPTSX 60	Pair Corr
0.97	XSP	iShares Core SP	Pair Corr
0.91	XIC	iShares Core SPTSX	Pair Corr
0.9	ZAG	BMO Aggregate Bond	Pair Corr
0.9	XBB	iShares Canadian Universe	Pair Corr
0.91	ZCN	BMO SPTSX Capped	Pair Corr
1.0	ZSP	BMO SP 500	Pair Corr
0.85	TCLB	TD Canadian Long	Pair Corr
1.0	VFV	Vanguard SP 500	Pair Corr
0.93	ZEB	BMO SPTSX Equal	Pair Corr

Related Correlations Analysis

	EQL	VUS	FCUQ	QDX	XIN	TGED	RIIN	BND	QQC	FCIQ
EQL		0.84	0.89	0.88	0.81	0.81	0.83	0.73	0.8	0.84	EQL
VUS	0.84		0.97	0.88	0.85	0.94	0.69	0.9	0.96	0.78	VUS
FCUQ	0.89	0.97		0.9	0.83	0.94	0.75	0.9	0.94	0.81	FCUQ
QDX	0.88	0.88	0.9		0.97	0.9	0.9	0.78	0.92	0.88	QDX
XIN	0.81	0.85	0.83	0.97		0.87	0.87	0.68	0.92	0.82	XIN
TGED	0.81	0.94	0.94	0.9	0.87		0.77	0.83	0.96	0.87	TGED
RIIN	0.83	0.69	0.75	0.9	0.87	0.77		0.56	0.77	0.8	RIIN
BND	0.73	0.9	0.9	0.78	0.68	0.83	0.56		0.83	0.66	BND
QQC	0.8	0.96	0.94	0.92	0.92	0.96	0.77	0.83		0.8	QQC
FCIQ	0.84	0.78	0.81	0.88	0.82	0.87	0.8	0.66	0.8		FCIQ
	EQL	VUS	FCUQ	QDX	XIN	TGED	RIIN	BND	QQC	FCIQ

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EQL	0.48	0.02	(0.06)	0.21	0.64	(0.50)	1.02	(0.94)	3.71
VUS	0.52	0.03	(0.02)	0.18	0.76	(0.52)	1.16	(1.20)	4.37
FCUQ	0.38	0.03	(0.03)	0.24	0.52	(0.40)	0.84	(0.75)	3.02
QDX	0.49	0.08	0.02	0.98	0.52	(0.52)	0.87	(0.88)	3.23
XIN	0.43	0.07	0.02	0.64	0.50	(0.47)	0.96	(0.77)	3.26
TGED	0.65	0.01	(0.04)	0.09	0.91	(0.62)	1.25	(1.36)	4.35
RIIN	0.42	0.05	(0.03)	(9.30)	0.45	(0.45)	0.84	(0.82)	2.26
BND	0.11	0.02	(0.40)	(1.35)	0.00	(0.14)	0.28	(0.17)	0.56
QQC	0.68	0.08	0.03	0.34	0.98	(0.68)	1.35	(1.73)	4.78
FCIQ	0.56	0.00	(0.07)	0.06	0.78	(0.52)	1.10	(1.11)	3.06

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