SPDR Galaxy Correlations

Etfs . USA . 
Etf . SPDR Galaxy Digital
DECO Etf   38.56  1.50  4.05%   
The current 90-days correlation between SPDR Galaxy Digital and Grayscale Bitcoin Trust is 0.77 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR Galaxy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR Galaxy Digital moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR Galaxy Correlation With Market

Very weak diversification

The correlation between SPDR Galaxy Digital and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Galaxy Digital 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 Galaxy Digital. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with SPDR Etf

  0.95GBTC Grayscale Bitcoin TrustPairCorr
  0.95BITO ProShares Bitcoin Aggressive PushPairCorr
  0.96BLOK Amplify TransformationalPairCorr
  0.91BLCN Siren Nasdaq NexGenPairCorr
  0.99BITQ Bitwise Crypto IndustryPairCorr
  0.95SPBC Simplify Equity PLUSPairCorr
  0.95BTC Grayscale Bitcoin MiniPairCorr
  0.99DAPP VanEck Digital TransPairCorr
  0.99CRPT First Trust SkyBridgePairCorr
  0.82SHLD Global X FundsPairCorr
  0.92WINN Harbor Long TermPairCorr
  0.84WMT WalmartPairCorr
  0.83AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.97BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.87DIS Walt Disney Sell-off TrendPairCorr
  0.94CSCO Cisco SystemsPairCorr
  0.89CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.9AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.96JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.84TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.62CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr

Moving against SPDR Etf

  0.94FNGD MicroSectors FANG IndexPairCorr
  0.86JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.34MMM 3M Company Fiscal Year End 28th of January 2025 PairCorr
  0.31BA Boeing Fiscal Year End 29th of January 2025 PairCorr

Related Correlations Analysis

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SPDR Galaxy Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Galaxy 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 Galaxy'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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