SPDR SP Correlations

GLDV Etf

USD 30.74 0.04 0.13%

The current 90-days correlation between SPDR SP Global and iShares VII PLC is 0.28 (i.e., Modest 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. If the correlation is 0, the equities are not correlated; they are entirely random.

SPDR SP Correlation With Market

Very poor diversification

The correlation between SPDR SP Global and DJI is 0.82 (i.e., Very 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.

The ability to find closely correlated positions to SPDR SP 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 SP 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 SP - 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 SP Global to buy it.

Moving together with SPDR Etf

0.95	VHYL	Vanguard FTSE All	Pair Corr
0.91	XGSD	Xtrackers Stoxx Global	Pair Corr
0.84	GLDVD	UBS ETF plc	Pair Corr
0.83	AUCO	LG Gold Mining	Pair Corr
0.81	GGMUSY	UBS ETF plc	Pair Corr
0.8	GDXJ	VanEck Junior Gold	Pair Corr
0.72	ZSILUS	ZKB Silver ETF	Pair Corr
0.82	IAUP	iShares Gold Producers	Pair Corr
0.83	GDX	VanEck Gold Miners	Pair Corr
0.9	XMJP	Xtrackers MSCI Japan	Pair Corr
0.72	IUSE	iShares SP 500	Pair Corr
0.83	AUEM	Amundi Index Solutions	Pair Corr
0.84	AASI	Amundi Index Solutions	Pair Corr
0.91	VUKE	Vanguard FTSE 100	Pair Corr
0.87	LCEU	BNP Paribas Easy	Pair Corr
0.89	EUREUA	UBS Core MSCI	Pair Corr
0.91	SXLI	SPDR SP Industrials	Pair Corr
0.65	VEVE	Vanguard FTSE Developed	Pair Corr
0.69	VWRL	Vanguard FTSE All	Pair Corr
0.63	SCITY	Amundi Index Solutions	Pair Corr
0.85	WRDUSW-USD	UBSETF MSCIWLD USDa	Pair Corr
0.87	VJPN	Vanguard FTSE Japan	Pair Corr
0.89	JPNUKD	UBSFund Solutions MSCI	Pair Corr
0.61	UT7US	UBSFund Solutions	Pair Corr
0.71	ZSILHC	ZKB Silver ETF	Pair Corr
0.82	ZGLDEU	ZKB Gold ETF	Pair Corr
0.86	XSMI	Xtrackers Switzerland	Pair Corr
0.89	IJPN	iShares MSCI Japan	Pair Corr
0.66	MVEC	iShares Edge MSCI	Pair Corr
0.8	HMEU	HSBC MSCI Europe	Pair Corr
0.77	LYFINW	Lyxor MSCI World	Pair Corr
0.85	XMME	Xtrackers MSCI Emerging	Pair Corr
0.85	C50	Amundi Index Solutions	Pair Corr

Moving against SPDR Etf

0.65	ASOL	21Shares Solana staking	Pair Corr
0.6	AXRP	21Shares Ripple XRP	Pair Corr

Related Correlations Analysis

	GLDV	GLDVD	XMEX	XEOU	CSNKY
GLDV		0.84	0.88	0.89	0.87	GLDV
GLDVD	0.84		0.92	0.91	0.87	GLDVD
XMEX	0.88	0.92		0.94	0.91	XMEX
XEOU	0.89	0.91	0.94		0.9	XEOU
CSNKY	0.87	0.87	0.91	0.9		CSNKY
	GLDV	GLDVD	XMEX	XEOU	CSNKY

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
GLDV	0.75	0.12	0.05	(0.89)	0.80	(0.85)	1.87	(1.37)	4.48
GLDVD	0.74	0.21	0.14	2.88	0.77	(0.90)	1.49	(1.47)	4.94
XMEX	0.94	0.18	0.11	0.47	0.96	(1.15)	2.06	(2.16)	5.36
XEOU	0.52	0.10	0.07	0.84	0.51	(0.58)	1.08	(1.04)	3.03
CSNKY	1.10	0.18	0.09	(37.69)	1.17	(1.22)	2.63	(1.92)	6.36

Be your own money manager

Our tools can tell you how much better you can do entering a position in SPDR SP 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.

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