SPDR Bloomberg Correlations

EBND Etf

USD 20.06 0.05 0.25%

The current 90-days correlation between SPDR Bloomberg Emerging and Schwab Fundamental International is 0.77 (i.e., Poor diversification). The correlation of SPDR Bloomberg 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 Bloomberg Correlation With Market

Modest diversification

The correlation between SPDR Bloomberg Emerging and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Bloomberg Emerging 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 Bloomberg Emerging. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with SPDR Etf

0.8	LEMB	iShares JP Morgan	Pair Corr
0.87	FEMB	First Trust Emerging	Pair Corr
0.66	CBON	VanEck China Bond	Pair Corr
0.93	CEW	WisdomTree Emerging	Pair Corr
0.62	JNJ	Johnson Johnson	Pair Corr
0.68	CAT	Caterpillar Earnings Call This Week	Pair Corr

Moving against SPDR Etf

0.52	VCAR	Simplify Volt RoboCar Symbol Change	Pair Corr
0.42	TSLL	Direxion Shares ETF	Pair Corr
0.32	BTCO	Invesco Galaxy Bitcoin Low Volatility	Pair Corr

Related Correlations Analysis

	FNDC	HAUZ	FNDA	FNDE	HYLB
FNDC		0.81	0.45	0.82	0.2	FNDC
HAUZ	0.81		0.24	0.88	-0.28	HAUZ
FNDA	0.45	0.24		0.14	0.59	FNDA
FNDE	0.82	0.88	0.14		-0.23	FNDE
HYLB	0.2	-0.28	0.59	-0.23		HYLB
	FNDC	HAUZ	FNDA	FNDE	HYLB

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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

FNDE	+ 0.88	HAUZ
FNDE	+ 0.82	FNDC
HAUZ	+ 0.81	FNDC
HYLB	+ 0.59	FNDA
FNDA	+ 0.45	FNDC
FNDA	+ 0.24	HAUZ

High negative correlations

HYLB	- 0.28	HAUZ
HYLB	- 0.23	FNDE

SPDR Bloomberg Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Bloomberg 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 Bloomberg'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
FNDC	0.52	(0.04)	0.00	(0.05)	0.00	0.00	1.26	(1.33)	3.77
HAUZ	0.68	(0.13)	0.00	(0.33)	0.00	0.00	1.42	(1.44)	4.08
FNDA	0.77	0.02	(0.02)	0.11	0.97	(0.83)	1.60	(1.32)	9.19
FNDE	0.70	(0.09)	0.00	(0.16)	0.00	0.00	1.47	(2.19)	5.83
HYLB	0.19	0.02	(0.15)	0.24	0.18	(0.20)	0.36	(0.33)	1.41

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