SPDR SSgA Correlations

INKM Etf

USD 34.38 0.31 0.91%

The current 90-days correlation between SPDR SSgA Income and Investment Managers Series is 0.57 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR SSgA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR SSgA Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR SSgA Correlation With Market

Very poor diversification

The correlation between SPDR SSgA Income and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SSgA Income 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 SSgA Income. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with SPDR Etf

0.95	AOM	iShares Core Moderate	Pair Corr
0.93	GDMA	Alpha Architect Gdsdn	Pair Corr
0.97	FCEF	First Trust Income	Pair Corr
0.93	EAOM	iShares ESG Aware	Pair Corr
0.79	VTI	Vanguard Total Stock	Pair Corr
0.77	SPY	SPDR SP 500	Pair Corr
0.77	IVV	iShares Core SP	Pair Corr
0.75	BND	Vanguard Total Bond	Pair Corr
0.98	VTV	Vanguard Value Index	Pair Corr
0.87	VO	Vanguard Mid Cap	Pair Corr
0.97	VEA	Vanguard FTSE Developed	Pair Corr
0.92	VB	Vanguard Small Cap	Pair Corr
0.88	VWO	Vanguard FTSE Emerging	Pair Corr
0.88	LBAY	Tidal ETF Trust	Pair Corr
0.9	SJNK	SPDR Bloomberg Short	Pair Corr
0.91	HYRM	DBX ETF Trust	Pair Corr
0.89	WCMI	First Trust Exchange	Pair Corr
0.89	GJUN	First Trust Exchange	Pair Corr
0.96	GREK	Global X MSCI	Pair Corr
0.92	HEDJ	WisdomTree Europe Hedged	Pair Corr
0.89	BCI	abrdn Bloomberg All	Pair Corr
0.81	HTUS	Capitol Series Trust	Pair Corr
0.81	OILT	Texas Capital Funds	Pair Corr
0.75	HYKE	ETF Series Solutions	Pair Corr
0.78	SCHB	Schwab Broad Market	Pair Corr
0.79	ASTX	Tradr 2X Long Buyout Trend	Pair Corr
0.9	AGMI	Themes Silver Miners	Pair Corr
0.78	XRT	SPDR SP Retail	Pair Corr
0.92	EAFG	Pacer Funds Trust	Pair Corr
0.88	SMH	VanEck Semiconductor ETF	Pair Corr
0.85	SIVR	abrdn Physical Silver	Pair Corr
0.91	MTBA	Simplify Exchange Traded	Pair Corr
0.8	AXSAX	Axonic Strategic Income	Pair Corr
0.65	LGDX	Intech SP Large	Pair Corr
0.96	VEMY	Virtus ETF Trust	Pair Corr
0.89	SPBX	AIM ETF Products	Pair Corr
0.97	EFA	iShares MSCI EAFE Aggressive Push	Pair Corr
0.87	TOCT	Innovator Equity Defined	Pair Corr

Related Correlations Analysis

	EINC	LCR	IAUG	DIG	FKU	SPDV	FDIV	XSHD	PRAY	PPI
EINC		0.61	0.75	0.93	0.78	0.83	0.78	0.79	0.74	0.75	EINC
LCR	0.61		0.95	0.6	0.92	0.88	0.91	0.84	0.88	0.85	LCR
IAUG	0.75	0.95		0.78	0.98	0.96	0.96	0.92	0.92	0.92	IAUG
DIG	0.93	0.6	0.78		0.79	0.87	0.77	0.83	0.81	0.83	DIG
FKU	0.78	0.92	0.98	0.79		0.94	0.94	0.91	0.9	0.93	FKU
SPDV	0.83	0.88	0.96	0.87	0.94		0.97	0.97	0.93	0.91	SPDV
FDIV	0.78	0.91	0.96	0.77	0.94	0.97		0.95	0.88	0.85	FDIV
XSHD	0.79	0.84	0.92	0.83	0.91	0.97	0.95		0.92	0.9	XSHD
PRAY	0.74	0.88	0.92	0.81	0.9	0.93	0.88	0.92		0.96	PRAY
PPI	0.75	0.85	0.92	0.83	0.93	0.91	0.85	0.9	0.96		PPI
	EINC	LCR	IAUG	DIG	FKU	SPDV	FDIV	XSHD	PRAY	PPI

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SPDR SSgA Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR SSgA 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 SSgA'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
EINC	0.73	0.22	0.16	4.54	0.66	(0.84)	1.47	(1.16)	4.54
LCR	0.38	0.00	(0.07)	0.08	0.36	(0.43)	0.79	(0.88)	1.81
IAUG	0.29	0.03	(0.05)	0.18	0.22	(0.31)	0.61	(0.56)	1.40
DIG	2.17	0.54	0.20	0.92	2.24	(2.41)	4.85	(3.70)	11.11
FKU	0.74	0.15	0.13	0.26	0.82	(0.82)	1.61	(1.32)	4.95
SPDV	0.65	0.12	0.13	0.23	0.49	(0.70)	1.82	(1.04)	3.60
FDIV	0.57	0.09	0.10	0.23	0.37	(0.69)	1.50	(0.82)	3.37
XSHD	0.74	0.10	0.10	0.24	0.56	(0.95)	1.86	(1.26)	4.45
PRAY	0.59	0.02	0.00	0.11	0.61	(0.65)	1.18	(1.12)	2.88
PPI	0.95	0.06	0.03	0.14	1.25	(0.96)	1.69	(1.93)	6.05

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SPDR SSgA Correlations

SPDR SSgA Correlation With Market

Very poor diversification

Moving together with SPDR Etf

Related Correlations Analysis

SPDR SSgA Constituents Risk-Adjusted Indicators

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