SSgA Correlations
| SLY Etf | USD 85.46 0.63 0.73% |
The current 90-days correlation between SSgA and SPDR SP 600 is 0.18 (i.e., Average diversification). The correlation of SSgA 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.
SSgA Correlation With Market
Modest diversification
The correlation between SSgA and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SSgA and DJI in the same portfolio, assuming nothing else is changed.
SSgA |
Related Correlations Analysis
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SSgA Constituents Risk-Adjusted Indicators
There is a big difference between SSgA Etf performing well and SSgA 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'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SLYG | 0.92 | (0.05) | 0.01 | 0.08 | 0.94 | 2.03 | 7.47 | |||
| SLYV | 0.93 | (0.02) | 0.04 | 0.10 | 0.84 | 2.02 | 7.88 | |||
| MDYV | 0.71 | 0.14 | 0.04 | 1.66 | 0.56 | 1.68 | 5.68 | |||
| MDYG | 0.74 | 0.10 | 0.01 | 0.67 | 0.80 | 1.61 | 5.28 | |||
| RWJ | 0.98 | (0.02) | 0.03 | 0.10 | 0.86 | 2.15 | 7.76 |
SSgA Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with SSgA etf to make a market-neutral strategy. Peer analysis of SSgA could also be used in its relative valuation, which is a method of valuing SSgA by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |