IShares MSCI Correlations

EWC Etf

USD 40.88 0.15 0.37%

The current 90-days correlation between iShares MSCI Canada and iShares MSCI Australia is 0.81 (i.e., Very 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.

IShares MSCI Correlation With Market

Poor diversification

The correlation between iShares MSCI Canada and DJI is 0.69 (i.e., 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.

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

0.99	BBCA	JPMorgan BetaBuilders	Pair Corr
0.87	EWA	iShares MSCI Australia	Pair Corr
0.82	KSA	iShares MSCI Saudi	Pair Corr
0.72	VTI	Vanguard Total Stock	Pair Corr
0.74	SPY	SPDR SP 500	Pair Corr
0.74	IVV	iShares Core SP	Pair Corr
0.85	VTV	Vanguard Value Index	Pair Corr
0.82	VO	Vanguard Mid Cap	Pair Corr
0.61	VB	Vanguard Small Cap	Pair Corr
0.65	BAC	Bank of America	Pair Corr
0.84	JPM	JPMorgan Chase	Pair Corr

Moving against IShares Etf

0.63

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	EWA	EWG	EWU	EWL	EWS
EWA		-0.16	-0.08	-0.09	0.07	EWA
EWG	-0.16		0.98	0.98	0.93	EWG
EWU	-0.08	0.98		0.99	0.95	EWU
EWL	-0.09	0.98	0.99		0.94	EWL
EWS	0.07	0.93	0.95	0.94		EWS
	EWA	EWG	EWU	EWL	EWS

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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	+ 0.99	EWU
EWU	+ 0.98	EWG
EWL	+ 0.98	EWG
EWS	+ 0.95	EWU
EWS	+ 0.94	EWL
EWS	+ 0.93	EWG

High negative correlations

EWG	- 0.16	EWA
EWL	- 0.09	EWA
EWU	- 0.08	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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EWA	0.82	(0.04)	0.00	(0.12)	0.00	0.00	1.58	(1.97)	4.46
EWG	0.93	0.25	0.22	0.32	0.96	(0.97)	2.50	(1.99)	6.68
EWU	0.62	0.14	0.21	0.22	0.63	(0.66)	1.56	(1.41)	4.39
EWL	0.69	0.20	0.26	0.42	0.71	(0.74)	1.79	(1.35)	4.20
EWS	0.63	0.12	0.14	0.18	0.88	(0.64)	1.32	(1.28)	4.91

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