SPDR Portfolio Correlations

SPBO Etf

USD 29.00 0.01 0.03%

The current 90-days correlation between SPDR Portfolio Corporate and Senstar Technologies is -0.24 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR Portfolio moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR Portfolio Corporate moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR Portfolio Correlation With Market

Good diversification

The correlation between SPDR Portfolio Corporate and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Portfolio Corporate 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 Portfolio Corporate. 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 labor statistics.

Moving together with SPDR Etf

1.0	LQD	iShares iBoxx Investment	Pair Corr
1.0	IGIB	iShares 5 10	Pair Corr
1.0	USIG	iShares Broad USD	Pair Corr
0.98	SPIB	SPDR Barclays Interm	Pair Corr
1.0	SUSC	iShares ESG USD	Pair Corr
1.0	QLTA	iShares Aaa	Pair Corr
1.0	CORP	PIMCO Investment Grade	Pair Corr
1.0	FLCO	Franklin Liberty Inv	Pair Corr
1.0	GIGB	Goldman Sachs Access	Pair Corr
1.0	VTC	Vanguard Total Corporate	Pair Corr
0.69	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.61	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.83	KO	Coca Cola Aggressive Push	Pair Corr
0.83	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against SPDR Etf

0.81	RSPY	Tuttle Capital Management	Pair Corr
0.79	MEME	Roundhill Investments	Pair Corr
0.74	DSJA	DSJA	Pair Corr
0.68	BTC	Grayscale Bitcoin Mini	Pair Corr
0.65	HPQ	HP Inc	Pair Corr
0.46	ITWO	Proshares Russell 2000 Low Volatility	Pair Corr
0.76	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.74	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.62	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.6	DIS	Walt Disney	Pair Corr
0.57	WMT	Walmart Aggressive Push	Pair Corr
0.55	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.48	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	SNT	ICCC	ANIK	AQUI	MSTSX	ABHYX	LBHIX	SCAXF	VIASP	RRTLX
SNT		-0.06	-0.62	0.0	-0.1	0.01	0.19	-0.94	0.81	0.02	SNT
ICCC	-0.06		0.33	0.0	-0.58	-0.12	-0.56	0.16	-0.18	-0.6	ICCC
ANIK	-0.62	0.33		0.0	-0.12	0.19	-0.42	0.62	-0.69	-0.09	ANIK
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	-0.1	-0.58	-0.12	0.0		0.29	0.69	0.02	-0.11	0.87	MSTSX
ABHYX	0.01	-0.12	0.19	0.0	0.29		0.59	-0.03	-0.21	0.43	ABHYX
LBHIX	0.19	-0.56	-0.42	0.0	0.69	0.59		-0.26	0.15	0.72	LBHIX
SCAXF	-0.94	0.16	0.62	0.0	0.02	-0.03	-0.26		-0.78	-0.05	SCAXF
VIASP	0.81	-0.18	-0.69	0.0	-0.11	-0.21	0.15	-0.78		0.0	VIASP
RRTLX	0.02	-0.6	-0.09	0.0	0.87	0.43	0.72	-0.05	0.0		RRTLX
	SNT	ICCC	ANIK	AQUI	MSTSX	ABHYX	LBHIX	SCAXF	VIASP	RRTLX

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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

RRTLX	+ 0.87	MSTSX
VIASP	+ 0.81	SNT
RRTLX	+ 0.72	LBHIX
LBHIX	+ 0.69	MSTSX
SCAXF	+ 0.62	ANIK
LBHIX	+ 0.59	ABHYX

High negative correlations

SCAXF	- 0.94	SNT
VIASP	- 0.78	SCAXF
VIASP	- 0.69	ANIK
ANIK	- 0.62	SNT
RRTLX	- 0.6	ICCC
MSTSX	- 0.58	ICCC

SPDR Portfolio Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Portfolio 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 Portfolio'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
SNT	2.44	1.01	0.40	(1.12)	1.14	(3.80)	10.04	(2.50)	35.03
ICCC	1.75	0.14	(0.02)	(0.09)	2.33	(1.87)	3.40	(3.29)	21.64
ANIK	1.77	(0.67)	0.00	(0.31)	0.00	0.00	3.23	(2.96)	34.28
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.48	(0.04)	(0.13)	0.06	0.50	(0.59)	1.21	(1.02)	2.80
ABHYX	0.17	0.02	(0.25)	(0.03)	0.26	(0.23)	0.34	(0.33)	1.91
LBHIX	0.11	0.01	(0.41)	0.46	0.00	(0.29)	0.24	(0.24)	0.96
SCAXF	0.70	(0.37)	0.00	(25.57)	0.00	0.00	0.00	0.00	23.47
VIASP	0.72	0.00	(0.02)	0.00	1.05	(0.80)	2.28	(1.15)	7.18
RRTLX	0.24	(0.02)	(0.31)	0.05	0.24	(0.27)	0.56	(0.56)	1.37

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