SPDR SSGA Correlations

SMLV Etf

USD 131.18 0.05 0.04%

The current 90-days correlation between SPDR SSGA Small and Fidelity International Multifactor is 0.69 (i.e., Poor diversification). The correlation of SPDR 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.

Build AI portfolio with SPDR Etf

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

Moving together with SPDR Etf

0.96	VBR	Vanguard Small Cap	Pair Corr
0.96	IWN	iShares Russell 2000	Pair Corr
0.96	IJJ	iShares SP Mid	Pair Corr
0.99	DFAT	Dimensional Targeted	Pair Corr
0.97	IJS	iShares SP Small	Pair Corr
0.97	SLYV	SPDR SP 600	Pair Corr
0.98	AVUV	Avantis Small Cap	Pair Corr
0.96	DES	WisdomTree SmallCap	Pair Corr
0.97	MDYV	SPDR SP 400	Pair Corr
0.95	CALF	Pacer Small Cap	Pair Corr
0.72	TOT	Advisor Managed Port	Pair Corr
0.77	FB	ProShares Trust ProShares	Pair Corr
0.78	SWP	SWP Growth Income	Pair Corr
0.86	DUKH	Ocean Park High	Pair Corr
0.64	MCD	McDonalds	Pair Corr
0.66	JNJ	Johnson Johnson	Pair Corr
0.62	BAC	Bank of America	Pair Corr
0.69	AA	Alcoa Corp	Pair Corr
0.79	WMT	Walmart Common Stock Sell-off Trend	Pair Corr

Moving against SPDR Etf

0.58	MSFT	Microsoft Sell-off Trend	Pair Corr
0.36	T	ATT Inc	Pair Corr
0.35	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	FDEV	EWZS	AVXC	EPU	FNK	QVMS	HEEM	XES	GVLU	SIXL
FDEV		-0.09	0.78	0.95	0.88	0.8	0.79	0.59	0.86	0.69	FDEV
EWZS	-0.09		0.21	-0.22	-0.15	0.0	0.2	0.49	-0.16	-0.11	EWZS
AVXC	0.78	0.21		0.77	0.6	0.59	0.98	0.77	0.57	0.22	AVXC
EPU	0.95	-0.22	0.77		0.87	0.77	0.79	0.54	0.85	0.52	EPU
FNK	0.88	-0.15	0.6	0.87		0.94	0.65	0.51	0.91	0.7	FNK
QVMS	0.8	0.0	0.59	0.77	0.94		0.64	0.58	0.81	0.63	QVMS
HEEM	0.79	0.2	0.98	0.79	0.65	0.64		0.81	0.62	0.23	HEEM
XES	0.59	0.49	0.77	0.54	0.51	0.58	0.81		0.47	0.13	XES
GVLU	0.86	-0.16	0.57	0.85	0.91	0.81	0.62	0.47		0.64	GVLU
SIXL	0.69	-0.11	0.22	0.52	0.7	0.63	0.23	0.13	0.64		SIXL
	FDEV	EWZS	AVXC	EPU	FNK	QVMS	HEEM	XES	GVLU	SIXL

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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

HEEM	+ 0.98	AVXC
EPU	+ 0.95	FDEV
QVMS	+ 0.94	FNK
GVLU	+ 0.91	FNK
FNK	+ 0.88	FDEV
FNK	+ 0.87	EPU

High negative correlations

EPU	- 0.22	EWZS
GVLU	- 0.16	EWZS
FNK	- 0.15	EWZS
SIXL	- 0.11	EWZS
EWZS	- 0.09	FDEV
QVMS	- 0.0	EWZS

SPDR SSGA Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR 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 SPDR 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
FDEV	0.46	0.09	0.05	0.88	0.40	(0.51)	1.07	(0.94)	2.16
EWZS	1.22	0.03	(0.01)	0.18	2.00	(1.22)	2.36	(2.71)	11.14
AVXC	0.68	0.15	0.06	(1.28)	0.80	(0.70)	1.71	(1.22)	4.65
EPU	1.29	0.30	0.13	1.69	1.43	(1.38)	2.50	(2.85)	8.25
FNK	0.72	0.05	(0.02)	2.96	0.84	(0.84)	1.50	(1.35)	3.70
QVMS	0.83	0.05	(0.03)	(0.57)	1.03	(0.92)	1.98	(1.57)	4.37
HEEM	0.73	0.14	0.07	(1.92)	0.71	(0.93)	1.76	(1.05)	4.33
XES	1.52	0.33	0.10	(0.99)	1.95	(1.55)	3.69	(3.57)	10.85
GVLU	0.65	0.00	(0.01)	0.07	0.76	(0.68)	1.33	(1.20)	3.31
SIXL	0.45	0.00	(0.11)	0.08	0.64	(0.50)	1.06	(0.79)	3.40

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