SPDR SSGA Correlations

FISR Etf

USD 25.83 0.01 0.04%

The current 90-days correlation between SPDR SSGA Fixed and Innovator SP 500 is 0.33 (i.e., Weak 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 0.49 (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

0.94	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.75	AGG	iShares Core Aggregate Sell-off Trend	Pair Corr
0.81	BIV	Vanguard Intermediate Sell-off Trend	Pair Corr
0.94	SPAB	SPDR Portfolio Aggregate Sell-off Trend	Pair Corr
0.94	EAGG	iShares ESG Aggregate	Pair Corr
0.92	FLCB	Franklin Templeton ETF Sell-off Trend	Pair Corr
0.74	UITB	VictoryShares USAA Core	Pair Corr
0.89	DFCF	Dimensional ETF Trust	Pair Corr
0.66	JAGG	JPMorgan BetaBuilders	Pair Corr
0.94	AGGY	WisdomTree Yield Enhanced	Pair Corr
0.66	BINC	BlackRock ETF Trust Sell-off Trend	Pair Corr

Moving against SPDR Etf

0.47	VXX	iPath Series B Low Volatility	Pair Corr
0.47	VIXY	ProShares VIX Short Low Volatility	Pair Corr
0.43	VIXM	ProShares VIX Mid Low Volatility	Pair Corr
0.42	VXZ	iPath Series B Low Volatility	Pair Corr
0.47	HPQ	HP Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	TCPB	PAPI	AMDY	ADME	EQIN	TPSC	HOLA	XCCC	BUSA	BSEP
TCPB		0.78	-0.39	0.6	0.77	0.79	0.77	0.82	0.83	0.79	TCPB
PAPI	0.78		-0.2	0.57	0.95	0.95	0.92	0.8	0.96	0.83	PAPI
AMDY	-0.39	-0.2		0.2	-0.16	-0.19	-0.12	-0.15	-0.28	-0.1	AMDY
ADME	0.6	0.57	0.2		0.68	0.69	0.67	0.74	0.61	0.86	ADME
EQIN	0.77	0.95	-0.16	0.68		0.96	0.97	0.87	0.98	0.92	EQIN
TPSC	0.79	0.95	-0.19	0.69	0.96		0.93	0.89	0.96	0.91	TPSC
HOLA	0.77	0.92	-0.12	0.67	0.97	0.93		0.88	0.97	0.93	HOLA
XCCC	0.82	0.8	-0.15	0.74	0.87	0.89	0.88		0.89	0.92	XCCC
BUSA	0.83	0.96	-0.28	0.61	0.98	0.96	0.97	0.89		0.91	BUSA
BSEP	0.79	0.83	-0.1	0.86	0.92	0.91	0.93	0.92	0.91		BSEP
	TCPB	PAPI	AMDY	ADME	EQIN	TPSC	HOLA	XCCC	BUSA	BSEP

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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

BUSA	+ 0.98	EQIN
HOLA	+ 0.97	EQIN
BUSA	+ 0.97	HOLA
BUSA	+ 0.96	PAPI
TPSC	+ 0.96	EQIN
BUSA	+ 0.96	TPSC

High negative correlations

AMDY	- 0.39	TCPB
BUSA	- 0.28	AMDY
AMDY	- 0.2	PAPI
TPSC	- 0.19	AMDY
EQIN	- 0.16	AMDY
XCCC	- 0.15	AMDY

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
TCPB	0.13	(0.01)	(0.29)	(0.03)	0.12	(0.14)	0.27	(0.24)	0.70
PAPI	0.49	0.13	0.20	0.28	0.22	(0.56)	1.33	(0.74)	2.85
AMDY	2.00	(0.20)	0.00	(0.13)	0.00	0.00	4.62	(4.98)	13.66
ADME	0.48	(0.04)	0.00	(0.02)	0.00	0.00	0.74	(1.17)	3.07
EQIN	0.56	0.08	0.11	0.15	0.47	(0.64)	1.35	(1.02)	3.29
TPSC	0.69	0.07	0.09	0.11	0.63	(0.81)	1.90	(1.32)	4.41
HOLA	0.44	0.07	0.08	0.17	0.43	(0.46)	0.89	(0.92)	2.58
XCCC	0.18	(0.02)	(0.17)	(0.04)	0.27	(0.18)	0.37	(0.50)	1.20
BUSA	0.56	0.12	0.19	0.19	0.35	(0.67)	1.46	(1.01)	3.31
BSEP	0.33	(0.01)	(0.06)	0.03	0.47	(0.32)	0.67	(0.78)	2.31

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