SSGA Active Correlations

PRSD Etf

25.23 0.05 0.20%

The correlation of SSGA Active 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.

SSGA Active Correlation With Market

Poor diversification

The correlation between SSGA Active Trust and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SSGA Active Trust and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SSGA Etf

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

Moving together with SSGA Etf

0.96	BSV	Vanguard Short Term	Pair Corr
0.98	IGSB	iShares 1 5	Pair Corr
0.98	SPSB	SPDR Barclays Short	Pair Corr
0.98	ISTB	iShares Core 1	Pair Corr
0.99	SLQD	iShares 0 5	Pair Corr
0.9	GVI	iShares Intermediate	Pair Corr
0.98	LDUR	PIMCO Enhanced Low	Pair Corr
0.98	SUSB	iShares ESG 1	Pair Corr
0.65	SIXD	AIM ETF Products	Pair Corr
0.82	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.96	EFA	iShares MSCI EAFE Sell-off Trend	Pair Corr
0.7	URA	Global X Uranium	Pair Corr
0.88	IGEB	iShares Edge Investment	Pair Corr
0.71	UAUG	Innovator Equity Ultra	Pair Corr
0.89	HIYS	Invesco High Yield Symbol Change	Pair Corr
0.92	VDC	Vanguard Consumer Staples	Pair Corr
0.71	PAUG	Innovator Equity Power	Pair Corr
0.94	CFA	VictoryShares 500	Pair Corr
0.89	CVMC	Morgan Stanley ETF	Pair Corr
0.93	AVMC	American Century ETF	Pair Corr
0.94	AVDS	Avantis International	Pair Corr
0.9	KNGZ	First Trust Exchange	Pair Corr
0.95	DISV	Dimensional ETF Trust	Pair Corr
0.98	TAXT	Northern Trust Tax	Pair Corr
0.92	FNK	First Trust Mid	Pair Corr
0.93	DFE	WisdomTree Europe	Pair Corr
0.8	DIA	SPDR Dow Jones	Pair Corr
0.92	FEM	First Trust Emerging	Pair Corr
0.88	IJS	iShares SP Small	Pair Corr
0.85	QTAP	Innovator Growth 100	Pair Corr
0.8	LQIG	SPDR MarketAxess Inv	Pair Corr
0.84	LALT	Invesco Multi Strategy	Pair Corr
0.69	DAUG	FT Cboe Vest	Pair Corr

Moving against SSGA Etf

0.81	PLTI	REX ETF Trust	Pair Corr
0.45	VXX	iPath Series B Low Volatility	Pair Corr
0.45	VIXY	ProShares VIX Short Low Volatility	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.12	-0.14	0.13	0.12	-0.31	-0.04	0.23	0.08	0.21	META
MSFT	-0.12		0.84	-0.65	-0.86	0.8	0.93	0.33	-0.91	-0.94	MSFT
UBER	-0.14	0.84		-0.57	-0.77	0.85	0.75	0.19	-0.81	-0.83	UBER
F	0.13	-0.65	-0.57		0.41	-0.59	-0.51	-0.05	0.75	0.7	F
T	0.12	-0.86	-0.77	0.41		-0.65	-0.84	-0.29	0.75	0.76	T
A	-0.31	0.8	0.85	-0.59	-0.65		0.67	0.2	-0.75	-0.84	A
CRM	-0.04	0.93	0.75	-0.51	-0.84	0.67		0.53	-0.82	-0.9	CRM
JPM	0.23	0.33	0.19	-0.05	-0.29	0.2	0.53		-0.13	-0.32	JPM
MRK	0.08	-0.91	-0.81	0.75	0.75	-0.75	-0.82	-0.13		0.92	MRK
XOM	0.21	-0.94	-0.83	0.7	0.76	-0.84	-0.9	-0.32	0.92		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

CRM	+ 0.93	MSFT
XOM	+ 0.92	MRK
A	+ 0.85	UBER
UBER	+ 0.84	MSFT
A	+ 0.8	MSFT
XOM	+ 0.76	T

High negative correlations

XOM	- 0.94	MSFT
MRK	- 0.91	MSFT
XOM	- 0.9	CRM
T	- 0.86	MSFT
XOM	- 0.84	A
CRM	- 0.84	T

SSGA Active Competition Risk-Adjusted Indicators

There is a big difference between SSGA Etf performing well and SSGA Active 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 SSGA Active'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
META	1.54	0.08	0.04	0.17	1.53	(1.74)	3.43	(2.81)	13.69
MSFT	1.33	(0.31)	0.00	(0.50)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.56	(0.19)	0.00	(0.30)	0.00	0.00	2.70	(3.82)	11.09
F	1.22	0.09	0.07	0.17	1.05	(1.50)	3.61	(2.22)	7.50
T	1.05	0.15	0.05	(0.64)	0.99	(1.22)	3.87	(1.76)	7.44
A	1.24	(0.41)	0.00	(0.32)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.80	(0.30)	0.00	(0.18)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.27	(0.11)	(0.03)	0.01	1.83	(1.30)	2.34	(3.11)	8.17
MRK	1.27	0.33	0.20	0.72	1.10	(1.42)	2.81	(2.06)	8.74
XOM	1.32	0.41	0.23	12.19	1.09	(1.57)	2.90	(2.44)	6.83

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