Investor Presentaiton
Correlation
Japanese Equity Returns and Yen Correlations
+ Since the Financial Crisis, the Japanese equity market has had a strong negative
correlation with the yen
+ This can partly be explained by the cyclical sensitivity of the Japanese economy
and the yen's status as a "safe-haven" currency
Trailing 36-Month Correlation: Equity Return and Yen Return
0.80
0.60
0.40
0.20
0.00
-0.20
-0.40
-0.60
-0.80
-Large Caps
Small Caps
-1.00
Dec-89
Dec-91
Dec-93
Dec-95
Dec-97
Dec-99
Dec-01
Dec-03
Dec-05
Dec-07
یمناستها
Source: Wisdom Tree, MSCI, 3/31/2021. Large Caps (MSCI Japan) begins on 12/31/1989. Small Caps (MSCI Japan Small Cap) begins on 12/31/1995.
Index returns measured by gross returns in local currency. Past performance is not indicative of future returns. You cannot invest directly in an index.
29
Dec-09
Dec-11
Dec-13
Dec-15
Dec-17
Dec-19
-0.29
-0.51View entire presentation