SPDR SSGA Correlations

Etfs . USA . 
Etf . SPDR SSGA Fixed
FISR Etf  USD 25.67  0.14  0.55%   
The current 90-days correlation between SPDR SSGA Fixed and SPDR SSGA Sector is -0.21 (i.e., Very good 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

Good diversification

The correlation between SPDR SSGA Fixed and DJI is -0.16 (i.e., Good 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.
  
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 state.

Moving together with SPDR Etf

  1.0BND Vanguard Total BondPairCorr
  1.0AGG iShares Core AggregatePairCorr
  1.0BIV Vanguard IntermediatePairCorr
  1.0SPAB SPDR Portfolio AggregatePairCorr
  1.0EAGG iShares ESG AggregatePairCorr
  1.0FLCB Franklin Templeton ETFPairCorr
  1.0UITB VictoryShares USAA CorePairCorr
  0.99DFCF Dimensional ETF TrustPairCorr
  1.0JAGG JPMorgan BetaBuildersPairCorr
  0.99AGGY WisdomTree Yield EnhancedPairCorr

Moving against SPDR Etf

  0.96TBT ProShares UltraShortPairCorr
  0.95YCS ProShares UltraShort YenPairCorr
  0.77SGG Barclays CapitalPairCorr
  0.76USD ProShares Ultra SemiPairCorr
  0.74ATMP Barclays ETN Select Low VolatilityPairCorr
  0.69DIG ProShares Ultra OilPairCorr
  0.39MLPR ETRACS Quarterly PayPairCorr
  0.84MSTY YieldMax MSTR OptionPairCorr
  0.82XLF Financial Select Sector Aggressive PushPairCorr
  0.82USFR WisdomTree Floating RatePairCorr
  0.81WGMI Valkyrie Bitcoin MinersPairCorr
  0.81PUTW WisdomTree CBOE SPPairCorr
  0.76BTC Grayscale Bitcoin MiniPairCorr
  0.75BUG Global X CybersecurityPairCorr
  0.74MAGS Roundhill MagnificentPairCorr
  0.73SPY SPDR SP 500 Aggressive PushPairCorr
  0.72BTF Valkyrie Bitcoin StrategyPairCorr
  0.71DIVB iShares DividendPairCorr
  0.69XLK Technology Select SectorPairCorr
  0.69DISO Tidal Trust IIPairCorr
  0.64DIVG Invesco Exchange TradedPairCorr
  0.51AMZA InfraCap MLP ETFPairCorr
  0.36IDGT iShares Trust Symbol ChangePairCorr

Related Correlations Analysis

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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   
ULST
+ 0.73
XLSR
STOT
+ 0.62
EMTL
SPBO
+ 0.62
STOT
SPBO
+ 0.59
EMTL
ULST
+ 0.45
STOT
ULST
+ 0.32
EMTL
  
High negative correlations   
SPBO
- 0.64
XLSR
SPBO
- 0.27
ULST
STOT
- 0.12
XLSR

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.

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