SPDR SP Correlations

SDY Etf

USD 142.31 1.03 0.73%

The current 90-days correlation between SPDR SP Dividend and iShares Select Dividend is 0.88 (i.e., Very poor diversification). The correlation of SPDR SP 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 SP Correlation With Market

Poor diversification

The correlation between SPDR SP Dividend and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Dividend and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SPDR SP Dividend. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with SPDR Etf

0.77	VOE	Vanguard Mid Cap	Pair Corr
0.69	IWS	iShares Russell Mid	Pair Corr
0.63	COWZ	Pacer Cash Cows Low Volatility	Pair Corr
0.62	DON	WisdomTree MidCap	Pair Corr
0.69	PEY	Invesco High Yield	Pair Corr
0.73	ONEY	SPDR Russell 1000	Pair Corr
0.61	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.61	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.69	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.81	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.83	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.66	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr

Moving against SPDR Etf

0.71	NRGU	Bank Of Montreal	Pair Corr
0.51	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	DVY	VIG	VYM	NOBL	HDV
DVY		0.88	0.94	0.71	0.85	DVY
VIG	0.88		0.97	0.89	0.87	VIG
VYM	0.94	0.97		0.8	0.92	VYM
NOBL	0.71	0.89	0.8		0.79	NOBL
HDV	0.85	0.87	0.92	0.79		HDV
	DVY	VIG	VYM	NOBL	HDV

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SPDR SP Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR SP 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 SP'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
DVY	0.57	0.05	0.03	0.19	0.41	(0.67)	1.15	(1.05)	3.28
VIG	0.53	(0.02)	(0.07)	0.10	0.47	(0.56)	1.07	(0.88)	3.23
VYM	0.53	0.01	(0.01)	0.13	0.35	(0.63)	1.11	(0.81)	3.69
NOBL	0.49	(0.01)	(0.11)	0.10	0.46	(0.55)	1.04	(0.87)	2.05
HDV	0.48	0.02	(0.10)	0.16	0.40	(0.53)	0.95	(0.78)	2.15

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