SPDR Refinitiv Correlations
| GCVC Etf | CHF 46.07 0.90 1.99% |
The current 90-days correlation between SPDR Refinitiv Global and Xtrackers SP 500 is 0.7 (i.e., Poor diversification). The correlation of SPDR Refinitiv 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 Refinitiv Correlation With Market
Poor diversification
The correlation between SPDR Refinitiv Global and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Refinitiv Global and DJI in the same portfolio, assuming nothing else is changed.
SPDR |
The ability to find closely correlated positions to SPDR Refinitiv could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SPDR Refinitiv 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 SPDR Refinitiv - 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 SPDR Refinitiv Global to buy it.
Moving together with SPDR Etf
| 0.81 | SX7EEX | iShares EURO STOXX | PairCorr |
| 0.83 | SX7PEX | iShares STOXX Europe | PairCorr |
| 0.85 | X7PS | Invesco STOXX Europe | PairCorr |
| 0.79 | GGMUSY | UBS ETF plc | PairCorr |
| 0.81 | AUCO | LG Gold Mining | PairCorr |
| 0.85 | ZSIL | ZKB Silver ETF | PairCorr |
| 0.92 | SMHV | VanEck Semiconductor | PairCorr |
| 0.84 | WENE | iShares MSCI World | PairCorr |
| 0.9 | CSSX5E | iShares VII PLC | PairCorr |
| 0.64 | LYWLD | Lyxor MSCI World | PairCorr |
| 0.69 | USGBPA | UBS ETF plc | PairCorr |
| 0.9 | ZGLDEU | ZKB Gold ETF | PairCorr |
| 0.73 | STHC | PIMCO Short Term | PairCorr |
| 0.96 | MXFS | Invesco MSCI Emerging | PairCorr |
| 0.91 | EMUCHF | UBSFund Solutions MSCI | PairCorr |
| 0.92 | CISB | iShares Smart City | PairCorr |
| 0.78 | CU2USD | Amundi Index Solutions | PairCorr |
| 0.89 | USMUFE | UBS ETF plc | PairCorr |
| 0.66 | SMICHA | UBS ETF SMI | PairCorr |
| 0.91 | XLBS | Invesco Materials | PairCorr |
| 0.9 | DCUSAS | UBS Fund Solutions | PairCorr |
| 0.9 | FTAD | SPDR FTSE UK | PairCorr |
| 0.9 | EUFM | UBSFund Solutions MSCI | PairCorr |
| 0.89 | WRDUSW-USD | UBSETF MSCIWLD USDa | PairCorr |
| 0.83 | STYC | PIMCO Short Term | PairCorr |
| 0.89 | RGLDOH | Raiffeisen ETF Solid | PairCorr |
| 0.8 | AWESGG | UBS MSCI ACWI | PairCorr |
| 0.89 | XGSD | Xtrackers Stoxx Global | PairCorr |
| 0.9 | IWQU | iShares Edge MSCI | PairCorr |
| 0.72 | IBTS | iShares Treasury Bond | PairCorr |
| 0.84 | DGRA | WisdomTree Quality | PairCorr |
| 0.69 | DMFC | iShares Edge MSCI | PairCorr |
| 0.77 | HYLC | iShares Global High | PairCorr |
| 0.73 | LYFINW | Lyxor MSCI World | PairCorr |
| 0.82 | GDX | VanEck Gold Miners | PairCorr |
| 0.81 | EUN | iShares STOXX Europe | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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SPDR Refinitiv Constituents Risk-Adjusted Indicators
There is a big difference between SPDR Etf performing well and SPDR Refinitiv 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 Refinitiv'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| IBGS | 0.15 | (0.02) | 0.00 | (0.47) | 0.00 | 0.33 | 1.12 | |||
| X03H | 0.15 | (0.03) | 0.00 | (0.63) | 0.00 | 0.25 | 0.87 | |||
| CHCORP | 0.11 | (0.01) | (0.57) | (1.15) | 0.13 | 0.23 | 0.66 | |||
| AUCHAH | 1.10 | 0.30 | 0.11 | 7.42 | 1.67 | 2.17 | 10.02 | |||
| CSSMI | 0.47 | 0.12 | 0.10 | 1.00 | 0.30 | 1.05 | 3.52 | |||
| DHYC | 0.11 | (0.01) | (0.27) | (1.50) | 0.16 | 0.20 | 1.20 | |||
| FWRA | 0.61 | (0.03) | (0.10) | (0.01) | 0.73 | 1.24 | 3.66 | |||
| XSMC | 0.47 | 0.13 | 0.09 | 1.04 | 0.31 | 0.97 | 3.52 | |||
| XDUE | 0.58 | 0.05 | (0.01) | 0.31 | 0.63 | 1.39 | 3.54 | |||
| XDPC | 0.64 | (0.04) | 0.00 | (0.08) | 0.00 | 1.44 | 5.22 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in SPDR Refinitiv 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.Did you try this?
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