SPDR SSGA Correlations

SMLV Etf

USD 140.88 2.09 1.51%

The current 90-days correlation between SPDR SSGA Small and 6 Meridian Low is 0.64 (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.

SPDR SSGA Correlation With Market

Very poor diversification

The correlation between SPDR SSGA Small and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SSGA Small and DJI in the same portfolio, assuming nothing else is changed.

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 bureau of economic analysis.

Moving together with SPDR Etf

0.98	VBR	Vanguard Small Cap	Pair Corr
0.98	IWN	iShares Russell 2000	Pair Corr
0.99	DFAT	Dimensional Targeted	Pair Corr
0.98	IJS	iShares SP Small	Pair Corr
0.98	SLYV	SPDR SP 600	Pair Corr
0.99	AVUV	Avantis Small Cap	Pair Corr
0.99	DES	WisdomTree SmallCap	Pair Corr
0.98	MDYV	SPDR SP 400	Pair Corr
0.94	CALF	Pacer Small Cap	Pair Corr
0.98	REGL	ProShares SP MidCap	Pair Corr
0.9	TOAK	Manager Directed Por	Pair Corr
0.86	FB	ProShares Trust ProShares	Pair Corr
0.79	VTI	Vanguard Total Stock	Pair Corr
0.75	SPY	SPDR SP 500	Pair Corr
0.75	IVV	iShares Core SP	Pair Corr
0.95	VB	Vanguard Small Cap	Pair Corr
0.78	TOT	Advisor Managed Port	Pair Corr
0.69	PFE	Pfizer Inc Earnings Call Tomorrow	Pair Corr
0.83	MRK	Merck Company Earnings Call Tomorrow	Pair Corr
0.64	CVX	Chevron Corp	Pair Corr
0.86	JNJ	Johnson Johnson	Pair Corr
0.61	MCD	McDonalds	Pair Corr
0.83	DD	Dupont De Nemours Earnings Call This Week	Pair Corr

Moving against SPDR Etf

0.93	NFLX	Netflix	Pair Corr
0.75	MSFT	Microsoft	Pair Corr
0.6	T	ATT Inc Earnings Call This Week	Pair Corr
0.36	MMM	3M Company	Pair Corr

Related Correlations Analysis

	FDEV	EWZS	AVXC	EPU	FNK	QVMS	HEEM	XES	GVLU	SIXL
FDEV		0.47	0.9	0.97	0.95	0.91	0.91	0.83	0.96	0.88	FDEV
EWZS	0.47		0.68	0.58	0.39	0.43	0.64	0.72	0.38	0.46	EWZS
AVXC	0.9	0.68		0.96	0.84	0.83	0.99	0.93	0.83	0.76	AVXC
EPU	0.97	0.58	0.96		0.92	0.9	0.96	0.91	0.92	0.84	EPU
FNK	0.95	0.39	0.84	0.92		0.98	0.87	0.84	1.0	0.87	FNK
QVMS	0.91	0.43	0.83	0.9	0.98		0.86	0.85	0.97	0.85	QVMS
HEEM	0.91	0.64	0.99	0.96	0.87	0.86		0.93	0.86	0.76	HEEM
XES	0.83	0.72	0.93	0.91	0.84	0.85	0.93		0.82	0.73	XES
GVLU	0.96	0.38	0.83	0.92	1.0	0.97	0.86	0.82		0.89	GVLU
SIXL	0.88	0.46	0.76	0.84	0.87	0.85	0.76	0.73	0.89		SIXL
	FDEV	EWZS	AVXC	EPU	FNK	QVMS	HEEM	XES	GVLU	SIXL

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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	0.51	0.09	0.11	0.21	0.49	(0.57)	1.14	(1.06)	2.58
EWZS	1.32	0.14	0.06	0.18	1.99	(1.36)	2.88	(2.71)	11.14
AVXC	0.66	0.15	0.15	0.28	0.62	(0.71)	1.40	(1.22)	3.08
EPU	1.25	0.49	0.23	0.47	1.54	(1.40)	2.53	(2.85)	5.10
FNK	0.72	0.06	0.09	0.10	0.64	(0.92)	2.17	(1.20)	4.13
QVMS	0.82	0.03	0.04	0.06	0.85	(0.96)	2.11	(1.57)	4.91
HEEM	0.68	0.12	0.15	0.25	0.50	(0.87)	1.76	(1.07)	3.77
XES	1.43	0.33	0.17	0.35	1.56	(1.51)	3.34	(3.31)	9.80
GVLU	0.65	0.06	0.09	0.11	0.59	(0.71)	1.60	(1.02)	3.46
SIXL	0.47	0.03	0.01	0.11	0.58	(0.54)	1.10	(0.79)	3.41

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