IShares MSCI Correlations

EWG Etf

USD 38.09 0.27 0.70%

The current 90-days correlation between iShares MSCI Germany and iShares MSCI United is 0.72 (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.

IShares MSCI Correlation With Market

Very weak diversification

The correlation between iShares MSCI Germany and DJI is 0.46 (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 Germany 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 Germany. 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

0.98	EWU	iShares MSCI United	Pair Corr
0.98	EWL	iShares MSCI Switzerland	Pair Corr
0.99	EWQ	iShares MSCI France	Pair Corr
0.72	EWW	iShares MSCI Mexico	Pair Corr
0.89	BND	Vanguard Total Bond	Pair Corr
0.98	VEA	Vanguard FTSE Developed	Pair Corr
0.65	GDXU	MicroSectors Gold Miners	Pair Corr
0.81	TRV	The Travelers Companies	Pair Corr
0.77	MCD	McDonalds	Pair Corr
0.76	IBM	International Business	Pair Corr
0.77	GE	GE Aerospace	Pair Corr
0.79	MMM	3M Company	Pair Corr
0.63	INTC	Intel	Pair Corr
0.89	KO	Coca Cola	Pair Corr
0.65	CSCO	Cisco Systems	Pair Corr

Moving against IShares Etf

0.65	VUG	Vanguard Growth Index	Pair Corr
0.61	VB	Vanguard Small Cap	Pair Corr
0.48	VTI	Vanguard Total Stock	Pair Corr
0.44	SPY	SPDR SP 500	Pair Corr
0.44	IVV	iShares Core SP	Pair Corr
0.72	AA	Alcoa Corp	Pair Corr
0.64	HPQ	HP Inc	Pair Corr
0.62	DIS	Walt Disney	Pair Corr
0.59	CAT	Caterpillar	Pair Corr
0.56	AXP	American Express	Pair Corr
0.56	MRK	Merck Company	Pair Corr
0.5	HD	Home Depot	Pair Corr
0.5	BAC	Bank of America	Pair Corr

Related Correlations Analysis

	EWU	EWQ	EWP	EWI	EWL
EWU		0.97	0.73	0.77	0.99	EWU
EWQ	0.97		0.66	0.72	0.98	EWQ
EWP	0.73	0.66		0.99	0.69	EWP
EWI	0.77	0.72	0.99		0.74	EWI
EWL	0.99	0.98	0.69	0.74		EWL
	EWU	EWQ	EWP	EWI	EWL

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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
EWU	0.62	0.14	0.21	0.22	0.63	(0.66)	1.56	(1.41)	4.39
EWQ	0.86	0.20	0.21	0.38	0.90	(0.91)	2.32	(1.64)	5.12
EWP	0.87	0.35	0.36	(5.17)	0.66	(0.97)	2.24	(1.36)	4.96
EWI	0.84	0.30	0.36	(29.94)	0.72	(1.00)	1.85	(1.35)	5.08
EWL	0.69	0.20	0.26	0.42	0.71	(0.74)	1.79	(1.35)	4.20

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