SPDR SSGA Correlations

LGLV Etf

USD 183.17 0.26 0.14%

The current 90-days correlation between SPDR SSGA Large and VanEck Oil Services is -0.32 (i.e., Very good diversification). The correlation of SPDR SSGA 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 SSGA Correlation With Market

Very poor diversification

The correlation between SPDR SSGA Large 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 SSGA Large and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in SPDR SSGA Large. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with SPDR Etf

0.75	VTI	Vanguard Total Stock	Pair Corr
0.72	SPY	SPDR SP 500	Pair Corr
0.72	IVV	iShares Core SP	Pair Corr
0.87	VIG	Vanguard Dividend	Pair Corr
0.66	VV	Vanguard Large Cap	Pair Corr
0.92	RSP	Invesco SP 500 Aggressive Push	Pair Corr
0.72	IWB	iShares Russell 1000	Pair Corr
0.63	ESGU	iShares ESG Aware	Pair Corr
0.87	DFAC	Dimensional Core Equity	Pair Corr
0.88	SPLG	SSgA Symbol Change	Pair Corr
0.87	OIH	VanEck Oil Services	Pair Corr
0.84	WTMF	WisdomTree Managed	Pair Corr
0.88	EWC	iShares MSCI Canada	Pair Corr
0.74	TOT	Advisor Managed Port	Pair Corr
0.87	RDIV	Invesco SP Ultra	Pair Corr
0.9	AHYB	American Century ETF	Pair Corr
0.9	JNJ	Johnson Johnson	Pair Corr
0.87	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.87	MRK	Merck Company Aggressive Push	Pair Corr
0.77	INTC	Intel	Pair Corr
0.63	KO	Coca Cola Aggressive Push	Pair Corr
0.88	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against SPDR Etf

0.64	ARKW	ARK Next Generation	Pair Corr
0.88	HPQ	HP Inc Aggressive Push	Pair Corr
0.77	MSFT	Microsoft	Pair Corr
0.44	MMM	3M Company	Pair Corr

Related Correlations Analysis

	FVAL	QQXT	CGGE	FBT	RWO	JHML	USVM	EFIV	CRBN	OIH
FVAL		0.89	0.92	0.66	0.71	0.93	0.92	0.98	0.97	0.74	FVAL
QQXT	0.89		0.87	0.84	0.65	0.93	0.9	0.84	0.82	0.7	QQXT
CGGE	0.92	0.87		0.68	0.79	0.97	0.9	0.91	0.94	0.84	CGGE
FBT	0.66	0.84	0.68		0.61	0.74	0.77	0.61	0.57	0.62	FBT
RWO	0.71	0.65	0.79	0.61		0.73	0.84	0.71	0.76	0.81	RWO
JHML	0.93	0.93	0.97	0.74	0.73		0.91	0.92	0.92	0.81	JHML
USVM	0.92	0.9	0.9	0.77	0.84	0.91		0.88	0.9	0.86	USVM
EFIV	0.98	0.84	0.91	0.61	0.71	0.92	0.88		0.98	0.76	EFIV
CRBN	0.97	0.82	0.94	0.57	0.76	0.92	0.9	0.98		0.81	CRBN
OIH	0.74	0.7	0.84	0.62	0.81	0.81	0.86	0.76	0.81		OIH
	FVAL	QQXT	CGGE	FBT	RWO	JHML	USVM	EFIV	CRBN	OIH

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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
FVAL	0.55	0.05	0.00	0.67	0.69	(0.54)	1.19	(1.16)	3.49
QQXT	0.49	0.00	(0.03)	0.06	0.52	(0.52)	1.13	(0.92)	2.86
CGGE	0.62	0.00	(0.01)	0.06	0.78	(0.58)	1.12	(1.05)	3.30
FBT	0.97	0.14	0.12	0.21	0.86	(1.06)	3.06	(1.77)	6.03
RWO	0.48	0.00	0.01	0.00	0.55	(0.47)	1.07	(1.15)	2.98
JHML	0.53	0.01	(0.01)	0.06	0.65	(0.54)	1.20	(1.09)	3.11
USVM	0.68	0.13	0.11	0.60	0.59	(0.78)	1.63	(1.41)	3.72
EFIV	0.50	0.02	(0.04)	0.35	0.70	(0.49)	1.18	(1.10)	3.65
CRBN	0.57	0.03	(0.03)	0.48	0.78	(0.53)	1.04	(1.18)	3.29
OIH	1.39	0.33	0.19	0.38	1.46	(1.55)	3.94	(2.90)	8.74

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