SPDR Dow Correlations

GLRE Etf

34.02 0.10 0.29%

The current 90-days correlation between SPDR Dow Jones and Leverage Shares 3x is 0.04 (i.e., Significant diversification). The correlation of SPDR Dow 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 Dow Correlation With Market

Weak diversification

The correlation between SPDR Dow Jones and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Dow Jones and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SPDR Dow 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 Dow 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 Dow - 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 Dow Jones to buy it.

Moving together with SPDR Etf

0.66

2AMD

Leverage Shares 2x

Pair Corr

Moving against SPDR Etf

0.77	2GOO	Leverage Shares 2x	Pair Corr
0.67	TR3X	INVESCO MARKETS II	Pair Corr
0.48	1AMZ	LS 1x Amazon	Pair Corr
0.39	VUCP	Vanguard USD Corporate	Pair Corr

Related Correlations Analysis

	3BID	3SVP	VILX	3PLT	3LNG	3ARE	SGBP	COI1	3LBC	3CFL
3BID		0.24	-0.12	0.31	-0.6	0.48	-0.58	0.41	0.11	0.2	3BID
3SVP	0.24		0.13	0.09	-0.06	0.18	0.02	0.05	-0.01	0.23	3SVP
VILX	-0.12	0.13		-0.46	-0.25	-0.39	-0.24	-0.04	-0.62	-0.43	VILX
3PLT	0.31	0.09	-0.46		0.14	0.49	0.17	-0.1	0.49	0.67	3PLT
3LNG	-0.6	-0.06	-0.25	0.14		-0.12	0.9	-0.48	0.54	0.37	3LNG
3ARE	0.48	0.18	-0.39	0.49	-0.12		-0.07	0.43	0.53	0.59	3ARE
SGBP	-0.58	0.02	-0.24	0.17	0.9	-0.07		-0.56	0.48	0.46	SGBP
COI1	0.41	0.05	-0.04	-0.1	-0.48	0.43	-0.56		0.07	-0.13	COI1
3LBC	0.11	-0.01	-0.62	0.49	0.54	0.53	0.48	0.07		0.74	3LBC
3CFL	0.2	0.23	-0.43	0.67	0.37	0.59	0.46	-0.13	0.74		3CFL
	3BID	3SVP	VILX	3PLT	3LNG	3ARE	SGBP	COI1	3LBC	3CFL

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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

SGBP	+ 0.9	3LNG
3CFL	+ 0.74	3LBC
3CFL	+ 0.67	3PLT
3CFL	+ 0.59	3ARE
3LBC	+ 0.54	3LNG
3LBC	+ 0.53	3ARE

High negative correlations

3LBC	- 0.62	VILX
3LNG	- 0.6	3BID
SGBP	- 0.58	3BID
COI1	- 0.56	SGBP
COI1	- 0.48	3LNG
3PLT	- 0.46	VILX

SPDR Dow Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Dow 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 Dow'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
3BID	5.91	0.10	0.01	(0.12)	7.93	(5.91)	12.79	(12.42)	41.27
3SVP	7.34	0.74	0.09	0.47	7.85	(8.50)	13.05	(13.72)	73.74
VILX	6.22	0.09	0.00	0.01	0.00	0.00	14.09	(13.40)	64.34
3PLT	10.51	3.38	0.32	1.12	9.04	(12.65)	20.13	(15.23)	99.99
3LNG	8.63	1.34	0.13	(0.46)	8.34	(9.39)	18.78	(12.60)	46.69
3ARE	5.24	0.89	0.11	1.65	6.92	(5.05)	9.36	(10.98)	46.68
SGBP	0.39	0.06	0.06	(0.49)	0.35	(0.43)	0.97	(0.86)	2.56
COI1	3.46	0.19	0.03	(0.70)	4.29	(3.71)	7.05	(6.04)	29.68
3LBC	3.62	0.76	0.16	(1.55)	3.90	(3.86)	7.27	(6.98)	26.78
3CFL	5.07	2.33	0.35	(19.86)	5.30	(6.33)	12.33	(5.16)	38.51

Be your own money manager

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