SPDR Russell Correlations

ONEO Etf

USD 124.52 1.26 1.02%

The current 90-days correlation between SPDR Russell 1000 and SPDR Russell 1000 is 0.76 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR Russell moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR Russell 1000 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR Russell Correlation With Market

Very weak diversification

The correlation between SPDR Russell 1000 and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Russell 1000 and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in SPDR Russell 1000. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with SPDR Etf

0.99	VO	Vanguard Mid Cap	Pair Corr
0.94	VXF	Vanguard Extended Market	Pair Corr
0.98	IJH	iShares Core SP	Pair Corr
0.99	IWR	iShares Russell Mid	Pair Corr
0.98	MDY	SPDR SP MIDCAP	Pair Corr
0.85	FV	First Trust Dorsey	Pair Corr
0.98	IVOO	Vanguard SP Mid	Pair Corr
0.99	JHMM	John Hancock Multifactor	Pair Corr
0.98	BBMC	JPMorgan BetaBuilders Mid	Pair Corr
0.98	XMMO	Invesco SP MidCap	Pair Corr
0.9	RFDA	RiverFront Dynamic	Pair Corr
0.9	HD	Home Depot	Pair Corr
0.76	CVX	Chevron Corp Earnings Call Today	Pair Corr
0.62	PG	Procter Gamble	Pair Corr
0.75	CAT	Caterpillar Earnings Call This Week	Pair Corr

Moving against SPDR Etf

0.46	BITI	ProShares Trust	Pair Corr
0.57	PFE	Pfizer Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ONEY	QUS	QEFA	SMLV	LGLV
ONEY		0.91	0.44	0.89	0.97	ONEY
QUS	0.91		0.49	0.88	0.9	QUS
QEFA	0.44	0.49		0.23	0.51	QEFA
SMLV	0.89	0.88	0.23		0.87	SMLV
LGLV	0.97	0.9	0.51	0.87		LGLV
	ONEY	QUS	QEFA	SMLV	LGLV

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SPDR Russell Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Russell 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 Russell'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
ONEY	0.59	(0.01)	(0.10)	0.05	0.70	(0.66)	1.05	(0.96)	5.29
QUS	0.47	0.01	(0.07)	0.11	0.61	(0.51)	0.88	(1.16)	4.79
QEFA	0.57	(0.03)	(0.12)	(0.03)	0.79	(0.57)	1.22	(1.27)	3.79
SMLV	0.99	0.05	0.00	0.19	1.05	(1.31)	2.14	(1.51)	13.80
LGLV	0.56	(0.03)	(0.12)	0.02	0.67	(0.61)	1.12	(1.01)	3.77

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