SPDR Nuveen Correlations

SHM Etf

USD 47.72 0.02 0.04%

The current 90-days correlation between SPDR Nuveen Bloomberg and SPDR Nuveen Bloomberg is 0.84 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR Nuveen moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR Nuveen Bloomberg moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR Nuveen Correlation With Market

Very good diversification

The correlation between SPDR Nuveen Bloomberg and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Nuveen Bloomberg 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 Nuveen Bloomberg. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with SPDR Etf

0.89	SUB	iShares Short Term	Pair Corr
0.96	DFNM	Dimensional ETF Trust	Pair Corr
0.82	FSMB	First Trust Short	Pair Corr
0.88	SMB	VanEck Short Muni	Pair Corr
0.68	TAFI	Ab Tax Aware	Pair Corr
0.61	KO	Coca Cola Aggressive Push	Pair Corr

Moving against SPDR Etf

0.51	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.47	STCE	Schwab Strategic Trust	Pair Corr
0.46	MEME	Roundhill Investments	Pair Corr
0.42	RSPY	Tuttle Capital Management	Pair Corr
0.32	DSJA	DSJA	Pair Corr
0.66	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.39	CSCO	Cisco Systems	Pair Corr
0.36	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr

Related Correlations Analysis

	TFI	ITM	PZA	SMB	SUB
TFI		0.98	0.92	0.78	0.75	TFI
ITM	0.98		0.94	0.82	0.82	ITM
PZA	0.92	0.94		0.9	0.89	PZA
SMB	0.78	0.82	0.9		0.91	SMB
SUB	0.75	0.82	0.89	0.91		SUB
	TFI	ITM	PZA	SMB	SUB

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

SPDR Nuveen Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Nuveen 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 Nuveen'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
TFI	0.18	0.00	(0.28)	0.06	0.32	(0.18)	0.35	(0.35)	1.85
ITM	0.16	0.00	(0.31)	0.09	0.28	(0.19)	0.37	(0.37)	1.60
PZA	0.23	0.01	(0.20)	0.02	0.39	(0.26)	0.55	(0.42)	2.44
SMB	0.08	0.00	(0.55)	0.16	0.08	(0.10)	0.17	(0.17)	0.70
SUB	0.07	0.00	(0.69)	0.15	0.08	(0.07)	0.15	(0.16)	0.56

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC