MSCI World or DAX?
The two indices share 1.8 % of their weight across 34 companies, and their daily returns correlate at 0.77. Small overlap and limited co-movement: these are two genuinely different building blocks.
Side by side
| MSCI World | DAX | |
|---|---|---|
| Holdings covered | 1,147 | 34 |
| Volatility | 15.8 % | 19.3 % |
| Max drawdown | -16.9 % | -16.0 % |
| Cheapest ETF we cover | SPPW · 0.12 % | DBXD · 0.09 % |
The largest shared positions
| Company | MSCI World | DAX |
|---|---|---|
| Siemens N AG | 0.25 % | 11.24 % |
| Allianz SE | 0.21 % | 9.40 % |
| Airbus Group | 0.16 % | 7.01 % |
| Siemens Energy N AG | 0.15 % | 7.01 % |
| Infineon Technologies AG | 0.10 % | 4.42 % |
| Munchener Ruckversicherungs-Gesellschaft AG | 0.09 % | 3.72 % |
| Deutsche Bank Aktiengesellschaft | 0.07 % | 3.50 % |
| Rheinmetall AG | 0.07 % | 3.03 % |
| Bayer AG | 0.06 % | 2.72 % |
| BASF SE | 0.06 % | 2.57 % |
Overlap and shared positions are computed from the holdings of one representative ETF each (XDWD and DBXD); of those we could attribute 93.4 % and 81.2 % of fund weight to individual companies, so real overlap is likely a little higher. The correlation covers 520 shared trading days.