SPDR Russell Correlations

R2SC Etf

54.66 0.39 0.72%

The current 90-days correlation between SPDR Russell 2000 and GraniteShares 3x Long is 0.52 (i.e., Very weak diversification). The correlation of SPDR Russell 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 Russell Correlation With Market

Very weak diversification

The correlation between SPDR Russell 2000 and DJI is 0.48 (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 2000 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SPDR Russell 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 Russell 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 Russell - 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 Russell 2000 to buy it.

Moving together with SPDR Etf

0.72	3USL	WisdomTree SP 500	Pair Corr
0.67	3LUS	WisdomTree SP 500	Pair Corr
0.62	UC87	UBSFund Solutions MSCI	Pair Corr
0.66	WIAU	iShares Fallen Angels	Pair Corr
0.71	IQSS	INVESCO MARKETS II	Pair Corr
0.68	PARI	Franklin STOXX Europe	Pair Corr
0.63	LSPX	Lyxor SP 500	Pair Corr
0.71	XNAS	Xtrackers NASDAQ 100	Pair Corr
0.64	PSRF	Invesco Markets III	Pair Corr
0.67	MACG	BlackRock ESG Multi	Pair Corr
0.7	YIEL	Amundi EUR High	Pair Corr
0.61	IWRD	iShares MSCI World	Pair Corr
0.61	XGBB	Xtrackers USD Corporate	Pair Corr

Related Correlations Analysis

	PAL3	3PLT	3LRR	3NVD	NVD3	3LVP	3LNV	NVD2	3LFP	3LFB
PAL3		1.0	0.79	0.71	0.73	0.72	0.75	0.71	0.42	0.54	PAL3
3PLT	1.0		0.79	0.72	0.74	0.72	0.75	0.71	0.42	0.55	3PLT
3LRR	0.79	0.79		0.59	0.62	0.55	0.6	0.57	0.59	0.69	3LRR
3NVD	0.71	0.72	0.59		1.0	0.86	0.87	0.99	0.26	0.34	3NVD
NVD3	0.73	0.74	0.62	1.0		0.85	0.86	0.99	0.3	0.38	NVD3
3LVP	0.72	0.72	0.55	0.86	0.85		0.96	0.84	0.16	0.27	3LVP
3LNV	0.75	0.75	0.6	0.87	0.86	0.96		0.85	0.15	0.28	3LNV
NVD2	0.71	0.71	0.57	0.99	0.99	0.84	0.85		0.22	0.3	NVD2
3LFP	0.42	0.42	0.59	0.26	0.3	0.16	0.15	0.22		0.95	3LFP
3LFB	0.54	0.55	0.69	0.34	0.38	0.27	0.28	0.3	0.95		3LFB
	PAL3	3PLT	3LRR	3NVD	NVD3	3LVP	3LNV	NVD2	3LFP	3LFB

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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
PAL3	7.09	0.18	0.03	0.14	9.13	(7.28)	13.72	(15.77)	60.65
3PLT	7.07	0.17	0.03	0.13	8.93	(7.24)	13.05	(15.74)	58.82
3LRR	3.78	(0.24)	0.00	(0.19)	0.00	0.00	8.12	(8.47)	20.26
3NVD	5.65	0.15	0.02	0.23	7.20	(5.71)	9.51	(12.71)	37.44
NVD3	5.73	0.17	0.02	0.27	7.27	(5.80)	9.40	(12.22)	39.43
3LVP	6.28	0.23	0.04	0.17	7.66	(6.70)	10.95	(14.10)	60.35
3LNV	5.47	0.13	0.03	0.14	7.65	(5.18)	9.12	(11.46)	40.55
NVD2	3.79	0.12	0.02	0.23	4.86	(3.98)	6.36	(8.07)	28.51
3LFP	4.70	(0.61)	0.00	(0.68)	0.00	0.00	10.42	(9.22)	59.94
3LFB	3.84	(0.78)	0.00	(0.36)	0.00	0.00	8.76	(8.57)	36.65

Be your own money manager

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