SPDR SSGA Correlations

FISR Etf

USD 26.31 0.05 0.19%

The current 90-days correlation between SPDR SSGA Fixed and Fidelity Blue Chip is 0.02 (i.e., Significant diversification). The correlation of SPDR SSGA 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.

SPDR SSGA Correlation With Market

Very weak diversification

The correlation between SPDR SSGA Fixed and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SSGA Fixed and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in SPDR SSGA Fixed. 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

0.99	BND	Vanguard Total Bond	Pair Corr
0.99	AGG	iShares Core Aggregate	Pair Corr
0.97	BIV	Vanguard Intermediate	Pair Corr
0.99	SPAB	SPDR Portfolio Aggregate	Pair Corr
0.99	EAGG	iShares ESG Aggregate	Pair Corr
0.99	FLCB	Franklin Templeton ETF	Pair Corr
0.99	UITB	VictoryShares USAA Core	Pair Corr
0.99	DFCF	Dimensional ETF Trust	Pair Corr
0.99	JAGG	JPMorgan BetaBuilders	Pair Corr
0.99	AGGY	WisdomTree Yield Enhanced	Pair Corr
0.67	DGP	DB Gold Double	Pair Corr
0.63	UGL	ProShares Ultra Gold	Pair Corr
0.62	NUGT	Direxion Daily Gold	Pair Corr
0.82	DIG	ProShares Ultra Oil	Pair Corr
0.84	MLPR	ETRACS Quarterly Pay	Pair Corr
0.79	DUSL	Direxion Daily Indus	Pair Corr
0.71	AVMC	American Century ETF	Pair Corr
0.8	VDC	Vanguard Consumer Staples	Pair Corr
0.71	LALT	Invesco Multi Strategy	Pair Corr
0.65	FNK	First Trust Mid	Pair Corr
0.8	DXJ	WisdomTree Japan Hedged	Pair Corr
0.69	AVUV	Avantis Small Cap	Pair Corr
0.65	EAFG	Pacer Funds Trust	Pair Corr
0.76	USO	United States Oil	Pair Corr
0.73	HEEM	iShares Currency Hedged	Pair Corr
0.74	AVDS	Avantis International	Pair Corr
0.76	FEM	First Trust Emerging	Pair Corr
0.98	LQIG	SPDR MarketAxess Inv	Pair Corr
0.74	STXV	EA Series Trust	Pair Corr
0.76	DFIC	Dimensional International	Pair Corr
0.62	HIYS	Invesco High Yield Symbol Change	Pair Corr
0.74	UEVM	VictoryShares Emerging	Pair Corr

Moving against SPDR Etf

0.7	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.37	ENTR	EntrepreneurShares	Pair Corr

Related Correlations Analysis

	INMU	UCRD	ZTWO	SDFI	CHGX	SPFF	FYT	CLOB	ACVF	FBCV
INMU		0.89	0.96	0.95	0.78	0.28	0.94	0.63	0.58	0.94	INMU
UCRD	0.89		0.86	0.91	0.63	0.09	0.8	0.38	0.49	0.77	UCRD
ZTWO	0.96	0.86		0.98	0.82	0.39	0.92	0.71	0.65	0.96	ZTWO
SDFI	0.95	0.91	0.98		0.76	0.33	0.89	0.62	0.62	0.92	SDFI
CHGX	0.78	0.63	0.82	0.76		0.68	0.84	0.75	0.9	0.88	CHGX
SPFF	0.28	0.09	0.39	0.33	0.68		0.42	0.73	0.81	0.5	SPFF
FYT	0.94	0.8	0.92	0.89	0.84	0.42		0.71	0.66	0.97	FYT
CLOB	0.63	0.38	0.71	0.62	0.75	0.73	0.71		0.7	0.78	CLOB
ACVF	0.58	0.49	0.65	0.62	0.9	0.81	0.66	0.7		0.74	ACVF
FBCV	0.94	0.77	0.96	0.92	0.88	0.5	0.97	0.78	0.74		FBCV
	INMU	UCRD	ZTWO	SDFI	CHGX	SPFF	FYT	CLOB	ACVF	FBCV

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SPDR SSGA Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR SSGA 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 SSGA'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
INMU	0.08	0.03	(0.44)	(4.61)	0.00	(0.11)	0.21	(0.17)	0.54
UCRD	0.15	0.02	(0.30)	0.52	0.00	(0.18)	0.42	(0.28)	0.88
ZTWO	0.05	0.01	(1.44)	(1.53)	0.00	(0.07)	0.12	(0.06)	0.26
SDFI	0.07	0.01	(0.82)	(0.76)	0.00	(0.09)	0.17	(0.11)	0.39
CHGX	0.68	0.09	0.08	0.19	0.63	(0.75)	1.51	(1.29)	3.68
SPFF	0.49	0.00	(0.06)	0.08	0.52	(0.56)	1.08	(0.96)	3.09
FYT	0.83	0.15	0.15	0.21	0.65	(0.93)	2.45	(1.37)	5.63
CLOB	0.12	(0.01)	(0.38)	(0.14)	0.21	(0.12)	0.24	(0.20)	0.61
ACVF	0.53	0.01	(0.01)	0.09	0.64	(0.53)	0.96	(1.16)	4.19
FBCV	0.48	0.10	0.12	0.23	0.31	(0.60)	1.31	(0.85)	3.18

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