SPDR MSCI Correlations

Etfs USA . 
Etf . SPDR MSCI EAFE
EFAX Etf  USD 41.60  0.18  0.43%   
The current 90-days correlation between SPDR MSCI EAFE and theglobe is 0.04 (i.e., Significant 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. If the correlation is 0, the equities are not correlated; they are entirely random.

SPDR MSCI Correlation With Market

Very weak diversification

The correlation between SPDR MSCI EAFE and DJI is 0.43 (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 Investing Opportunities 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 nation.

Moving together with SPDR Etf

  0.99VEA Vanguard FTSE DevelopedPairCorr
  1.0IEFA iShares Core MSCI Low VolatilityPairCorr
  0.89VEU Vanguard FTSE AllPairCorr
  1.0EFA iShares MSCI EAFE Aggressive PushPairCorr
  0.89IXUS iShares Core MSCIPairCorr
  0.99SPDW SPDR SP WorldPairCorr
  0.99IDEV iShares Core MSCIPairCorr
  1.0ESGD iShares ESG AwarePairCorr
  1.0JIRE JP Morgan ExchangePairCorr
  0.88DFAX Dimensional WorldPairCorr
  0.68IRET Tidal Trust IIPairCorr
  0.72JNJ Johnson Johnson Sell-off TrendPairCorr
  0.83MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.84PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr

Moving against SPDR Etf

  0.78ARKW ARK Next GenerationPairCorr
  0.71IAUF ISharesPairCorr
  0.7WTMF WisdomTree ManagedPairCorr
  0.5BST BlackRock Science TechPairCorr
  0.42EWC iShares MSCI CanadaPairCorr
  0.82JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.75DIS Walt Disney Aggressive PushPairCorr
  0.74WMT Walmart Aggressive PushPairCorr
  0.73TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.72CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.7T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.67CSCO Cisco Systems Aggressive PushPairCorr
  0.61AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.55AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr

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   
EEMX
+ 0.63
TGLO
SEEK
+ 0.48
TGLO
SEEK
+ 0.34
BIDS
BIDS
+ 0.13
TGLO
MLTX
+ 0.1
EEMX
SEEK
+ 0.09
EEMX
  
High negative correlations   
BIDS
- 0.18
EEMX
BIDS
- 0.13
MLTX
SEEK
- 0.07
MLTX

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.

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