IShares MSCI Correlations

Etfs . USA . 
Etf . iShares MSCI Norway
ENOR Etf  USD 26.06  0.03  0.11%   
The current 90-days correlation between iShares MSCI Norway and iShares MSCI Finland is 0.6 (i.e., Poor 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. If the correlation is 0, the equities are not correlated; they are entirely random.

IShares MSCI Correlation With Market

Very weak diversification

The correlation between iShares MSCI Norway and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares MSCI Norway and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in iShares MSCI Norway. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with IShares Etf

  0.86EWU iShares MSCI UnitedPairCorr
  0.72EWY iShares MSCI SouthPairCorr
  0.87EWL iShares MSCI SwitzerlandPairCorr
  0.89EWG iShares MSCI GermanyPairCorr
  0.88EWQ iShares MSCI FrancePairCorr
  0.74EWW iShares MSCI MexicoPairCorr
  0.76BND Vanguard Total BondPairCorr
  0.87VEA Vanguard FTSE DevelopedPairCorr
  0.91GDXU MicroSectors Gold MinersPairCorr
  0.78TRV The Travelers CompaniesPairCorr
  0.61IBM International BusinessPairCorr
  0.72GE GE AerospacePairCorr
  0.78MMM 3M CompanyPairCorr
  0.68KO Coca ColaPairCorr

Moving against IShares Etf

  0.67VUG Vanguard Growth IndexPairCorr
  0.55VB Vanguard Small CapPairCorr
  0.5VTI Vanguard Total StockPairCorr
  0.48SPY SPDR SP 500PairCorr
  0.48IVV iShares Core SPPairCorr
  0.72DIS Walt DisneyPairCorr
  0.66HPQ HP IncPairCorr
  0.58AA Alcoa CorpPairCorr
  0.53HD Home DepotPairCorr
  0.51AXP American ExpressPairCorr
  0.45CAT CaterpillarPairCorr
  0.4BAC Bank of AmericaPairCorr
  0.37MRK Merck CompanyPairCorr

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   
EPOL
+ 0.98
EFNL
EIRL
+ 0.9
EFNL
EPOL
+ 0.86
EIRL
EDEN
+ 0.66
EIRL
EDEN
+ 0.56
EFNL
EPOL
+ 0.5
EDEN
  
High negative correlations   
ENZL
- 0.79
EFNL
EPOL
- 0.74
ENZL
ENZL
- 0.69
EIRL
ENZL
- 0.52
EDEN

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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