SPDR MSCI Correlations

QEFA Etf

USD 80.87 0.00 0.00%

The current 90-days correlation between SPDR MSCI EAFE and SPDR MSCI Emerging is 0.73 (i.e., Poor diversification). The correlation of SPDR 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.

SPDR MSCI Correlation With Market

Very weak diversification

The correlation between SPDR MSCI EAFE and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR MSCI EAFE and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in SPDR MSCI EAFE. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with SPDR Etf

0.98	VEA	Vanguard FTSE Developed	Pair Corr
0.99	IEFA	iShares Core MSCI	Pair Corr
0.98	VEU	Vanguard FTSE All	Pair Corr
0.99	EFA	iShares MSCI EAFE	Pair Corr
0.97	IXUS	iShares Core MSCI	Pair Corr
0.98	SPDW	SPDR SP World	Pair Corr
0.98	IDEV	iShares Core MSCI	Pair Corr
0.99	ESGD	iShares ESG Aware	Pair Corr
0.99	JIRE	JP Morgan Exchange	Pair Corr
0.98	DFAX	Dimensional World	Pair Corr
0.95	BABX	GraniteShares 175x Long	Pair Corr
0.96	XPP	ProShares Ultra FTSE Downward Rally	Pair Corr
0.89	GDXU	MicroSectors Gold Miners	Pair Corr
0.88	JNUG	Direxion Daily Junior	Pair Corr
0.92	SHNY	Microsectors Gold	Pair Corr
0.63	INTC	Intel	Pair Corr
0.8	TRV	The Travelers Companies	Pair Corr
0.75	MMM	3M Company	Pair Corr
0.74	GE	GE Aerospace	Pair Corr
0.81	IBM	International Business	Pair Corr
0.94	T	ATT Inc Earnings Call This Week	Pair Corr
0.8	MCD	McDonalds	Pair Corr
0.64	CVX	Chevron Corp	Pair Corr
0.66	PG	Procter Gamble	Pair Corr

Moving against SPDR Etf

0.53	AXP	American Express	Pair Corr
0.32	WTID	UBS ETRACS	Pair Corr
0.76	MSFT	Microsoft	Pair Corr
0.71	AA	Alcoa Corp	Pair Corr
0.59	MRK	Merck Company	Pair Corr
0.54	DIS	Walt Disney	Pair Corr
0.48	BAC	Bank of America Aggressive Push	Pair Corr
0.34	BA	Boeing	Pair Corr

Related Correlations Analysis

	QEMM	QUS	QWLD	LGLV	ONEY
QEMM		0.53	0.6	0.48	0.44	QEMM
QUS	0.53		0.81	0.69	0.86	QUS
QWLD	0.6	0.81		0.94	0.62	QWLD
LGLV	0.48	0.69	0.94		0.58	LGLV
ONEY	0.44	0.86	0.62	0.58		ONEY
	QEMM	QUS	QWLD	LGLV	ONEY

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SPDR MSCI Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR 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 SPDR 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
QEMM	0.63	0.02	0.00	(0.03)	0.00	0.00	1.27	(1.61)	4.06
QUS	0.58	0.01	0.00	(0.06)	0.00	0.00	1.10	(1.20)	3.13
QWLD	0.54	0.04	0.09	0.00	0.78	(0.52)	1.17	(0.95)	2.95
LGLV	0.62	0.05	0.10	0.02	0.78	(0.64)	1.19	(1.43)	2.86
ONEY	0.66	0.00	0.00	(0.08)	0.00	0.00	1.25	(1.11)	3.13

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