SSgA SPDR Correlations

EMSD Etf

116.78 1.44 1.25%

The current 90-days correlation between SSgA SPDR MSCI and Leverage Shares 3x is -0.17 (i.e., Good diversification). The correlation of SSgA SPDR 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.

SSgA SPDR Correlation With Market

Good diversification

The correlation between SSgA SPDR MSCI and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SSgA SPDR MSCI and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SSgA SPDR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SSgA SPDR when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back SSgA SPDR - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling SSgA SPDR MSCI to buy it.

Moving together with SSgA Etf

0.82	VWCG	Vanguard FTSE Developed	Pair Corr
0.71	AASU	Amundi Index Solutions	Pair Corr
0.79	2AMD	Leverage Shares 2x	Pair Corr

Moving against SSgA Etf

0.37	1AMZ	LS 1x Amazon	Pair Corr
0.32	2GOO	Leverage Shares 2x	Pair Corr

Related Correlations Analysis

	3PLT	3ULS	3LSI	3PYE	3SPE	FANE	INFU	3FNE	FTNE	NVD2
3PLT		-0.55	0.01	0.68	-0.66	0.76	0.63	0.73	0.8	0.75	3PLT
3ULS	-0.55		-0.53	-0.87	0.79	-0.85	-0.86	-0.87	-0.79	-0.78	3ULS
3LSI	0.01	-0.53		0.4	-0.34	0.41	0.52	0.44	0.29	0.51	3LSI
3PYE	0.68	-0.87	0.4		-0.78	0.93	0.89	0.92	0.91	0.79	3PYE
3SPE	-0.66	0.79	-0.34	-0.78		-0.86	-0.77	-0.86	-0.87	-0.68	3SPE
FANE	0.76	-0.85	0.41	0.93	-0.86		0.94	0.98	0.98	0.85	FANE
INFU	0.63	-0.86	0.52	0.89	-0.77	0.94		0.93	0.87	0.89	INFU
3FNE	0.73	-0.87	0.44	0.92	-0.86	0.98	0.93		0.96	0.84	3FNE
FTNE	0.8	-0.79	0.29	0.91	-0.87	0.98	0.87	0.96		0.78	FTNE
NVD2	0.75	-0.78	0.51	0.79	-0.68	0.85	0.89	0.84	0.78		NVD2
	3PLT	3ULS	3LSI	3PYE	3SPE	FANE	INFU	3FNE	FTNE	NVD2

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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

3FNE	+ 0.98	FANE
FTNE	+ 0.98	FANE
FTNE	+ 0.96	3FNE
INFU	+ 0.94	FANE
FANE	+ 0.93	3PYE
3FNE	+ 0.93	INFU

High negative correlations

FTNE	- 0.87	3SPE
3FNE	- 0.87	3ULS
3PYE	- 0.87	3ULS
3FNE	- 0.86	3SPE
FANE	- 0.86	3SPE
INFU	- 0.86	3ULS

SSgA SPDR Constituents Risk-Adjusted Indicators

There is a big difference between SSgA Etf performing well and SSgA SPDR 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 SSgA SPDR'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
3PLT	8.74	3.13	0.52	0.57	6.11	(11.18)	20.13	(10.82)	76.95
3ULS	1.76	(0.17)	0.00	1.98	0.00	0.00	3.75	(4.09)	13.06
3LSI	4.16	0.36	0.04	22.35	5.55	(3.97)	9.27	(9.50)	25.70
3PYE	4.09	0.81	0.13	3.24	4.84	(4.35)	9.54	(9.11)	28.97
3SPE	4.28	(0.50)	0.00	(0.32)	0.00	0.00	7.61	(7.90)	34.93
FANE	0.81	0.22	0.10	(11.02)	0.66	(0.91)	2.60	(1.38)	5.21
INFU	0.16	0.04	(0.39)	(12.27)	0.00	(0.17)	0.41	(0.34)	1.09
3FNE	2.57	0.44	0.10	(7.50)	2.67	(2.74)	7.06	(5.45)	18.67
FTNE	1.00	0.35	0.20	(2.95)	0.64	(1.23)	2.86	(1.37)	6.52
NVD2	4.29	0.14	0.04	0.19	5.49	(4.18)	8.22	(7.48)	26.09

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Our tools can tell you how much better you can do entering a position in SSgA SPDR without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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