SPDR SP Correlations

Etfs . USA . 
Etf . SPDR SP Global
GII Etf  USD 75.79  0.29  0.38%   
The current 90-days correlation between SPDR SP Global and Global X SuperDividend is 0.08 (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

Poor diversification

The correlation between SPDR SP Global and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Global and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with SPDR Etf
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in SPDR SP Global. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with SPDR Etf

  0.9PAVE Global X Infrastructure Low VolatilityPairCorr
  1.0IGF iShares Global InfraPairCorr
  0.95NFRA FlexShares STOXX GlobalPairCorr
  0.91IFRA iShares Infrastructure Low VolatilityPairCorr
  0.98TOLZ ProShares DJ BrookfieldPairCorr
  0.65INFR ClearBridge SustainablePairCorr
  0.79BLLD JPMorganPairCorr
  0.74CPST Calamos ETF TrustPairCorr
  0.68ELON Battleshares TSLAPairCorr
  0.81ITDD iShares TrustPairCorr
  0.68OASC OneAscent Small CapPairCorr
  0.84BINC BlackRock ETF TrustPairCorr
  0.74AHYB American Century ETFPairCorr
  0.88RDIV Invesco SP UltraPairCorr
  0.89DD Dupont De NemoursPairCorr
  0.68CSCO Cisco Systems Aggressive PushPairCorr
  0.77MRK Merck CompanyPairCorr
  0.91CVX Chevron Corp Sell-off TrendPairCorr
  0.9CAT CaterpillarPairCorr
  0.95XOM Exxon Mobil Corp Aggressive PushPairCorr
  0.75PG Procter GamblePairCorr
  0.69BA BoeingPairCorr
  0.68MCD McDonalds Earnings Call TodayPairCorr
  0.63AA Alcoa CorpPairCorr
  0.89JNJ Johnson Johnson Sell-off TrendPairCorr

Moving against SPDR Etf

  0.6MPAY Exchange Traded ConceptsPairCorr
  0.83MSFT Microsoft Sell-off TrendPairCorr
  0.77HPQ HP Inc Aggressive PushPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
KCE  1.02 (0.05)(0.02) 0.04  1.44 
(0.97)
 1.75 
(2.66)
 7.16 
IXG  0.64  0.04  0.03  0.13  0.73 
(0.68)
 1.28 
(1.42)
 3.52 
FLTW  0.99  0.14  0.09  0.26  1.19 
(1.02)
 1.95 
(2.18)
 5.64 
IGE  0.94  0.31  0.21  0.58  0.90 
(1.04)
 1.90 
(1.96)
 5.42 
JHSC  0.75  0.08  0.10  0.16  0.61 
(0.85)
 2.20 
(1.45)
 4.20 
NUDM  0.66  0.18  0.10 (3.04) 0.73 
(0.69)
 1.35 
(1.41)
 3.02 
ONEV  0.54  0.06  0.06  0.18  0.39 
(0.57)
 1.40 
(0.92)
 3.42 
EES  0.80  0.07  0.08  0.15  0.65 
(0.90)
 2.49 
(1.63)
 4.61 
BKMC  0.77  0.15  0.08  1.32  0.68 
(0.81)
 1.61 
(1.33)
 3.69 
DIV  0.49  0.18  0.21  1.96  0.00 
(0.59)
 1.35 
(0.77)
 2.34 

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