SPDR SP Correlations

FITE Etf

USD 70.37 0.00 0.00%

The current 90-days correlation between SPDR SP Kensho and SPDR SP Kensho is 0.03 (i.e., Significant diversification). The correlation of SPDR SP 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 SP Correlation With Market

Significant diversification

The correlation between SPDR SP Kensho and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Kensho 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 SP Kensho. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with SPDR Etf

0.76	VGT	Vanguard Information	Pair Corr
0.63	XLK	Technology Select Sector	Pair Corr
0.75	IYW	iShares Technology ETF	Pair Corr
0.85	CIBR	First Trust NASDAQ Sell-off Trend	Pair Corr
0.76	FTEC	Fidelity MSCI Information	Pair Corr
0.76	IGV	iShares Expanded Tech	Pair Corr
0.9	FDN	First Trust Dow	Pair Corr
0.84	IGM	iShares Expanded Tech	Pair Corr
0.68	SWP	SWP Growth Income	Pair Corr
0.85	WINN	Harbor Long Term	Pair Corr
0.74	IBM	International Business Tech Boost	Pair Corr
0.77	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.8	BAC	Bank of America	Pair Corr
0.77	JPM	JPMorgan Chase	Pair Corr

Moving against SPDR Etf

0.82	FNGD	MicroSectors FANG Index	Pair Corr
0.62	JNJ	Johnson Johnson	Pair Corr
0.52	KO	Coca Cola Earnings Call This Week	Pair Corr
0.4	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.38	INTC	Intel	Pair Corr

Related Correlations Analysis

	ROKT	SIMS	KOMP	CNRG	HAIL
ROKT		0.11	0.78	0.28	0.7	ROKT
SIMS	0.11		0.61	0.44	0.1	SIMS
KOMP	0.78	0.61		0.33	0.6	KOMP
CNRG	0.28	0.44	0.33		0.49	CNRG
HAIL	0.7	0.1	0.6	0.49		HAIL
	ROKT	SIMS	KOMP	CNRG	HAIL

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SPDR SP Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR SP 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 SP'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
ROKT	1.18	0.17	0.08	0.39	1.37	(1.27)	2.61	(1.95)	9.99
SIMS	0.79	(0.10)	0.00	(0.09)	0.00	0.00	1.54	(2.01)	5.57
KOMP	1.08	0.08	0.02	0.25	1.37	(1.10)	2.46	(2.27)	8.42
CNRG	1.51	0.00	(0.02)	0.10	2.34	(1.39)	2.89	(3.98)	9.89
HAIL	1.33	0.04	(0.01)	0.19	1.86	(1.26)	2.48	(2.25)	8.14

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