SPDR SP Correlations

Etfs . USA . 
Etf . SPDR SP World
SPDW Etf  USD 35.15  0.10  0.29%   
The current 90-days correlation between SPDR SP World and SPDR Portfolio Emerging is 0.76 (i.e., Poor diversification). The correlation of SPDR SP 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 SP Correlation With Market

Very weak diversification

The correlation between SPDR SP World and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP World 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 SP World. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with SPDR Etf

  1.0VEA Vanguard FTSE DevelopedPairCorr
  0.99IEFA iShares Core MSCIPairCorr
  0.91VEU Vanguard FTSE AllPairCorr
  0.99EFA iShares MSCI EAFEPairCorr
  0.91IXUS iShares Core MSCIPairCorr
  1.0IDEV iShares Core MSCIPairCorr
  0.99ESGD iShares ESG AwarePairCorr
  0.97JIRE JP Morgan ExchangePairCorr
  0.91DFAX Dimensional WorldPairCorr
  0.65YCL ProShares Ultra YenPairCorr
  0.79ULE ProShares Ultra EuroPairCorr
  0.67FXY Invesco CurrencySharesPairCorr
  0.75MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.82KO Coca Cola Aggressive PushPairCorr

Moving against SPDR Etf

  0.6TSJA TSJAPairCorr
  0.57DSJA DSJAPairCorr
  0.45SIXD AIM ETF ProductsPairCorr
  0.33PPA Invesco Aerospace DefensePairCorr
  0.61DIS Walt Disney Aggressive PushPairCorr
  0.58WMT Walmart Aggressive PushPairCorr
  0.53CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.52CSCO Cisco SystemsPairCorr
  0.48T ATT Inc Aggressive PushPairCorr
  0.39AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.37SPY SPDR SP 500PairCorr
  0.35AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr

Related Correlations Analysis

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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   
SPMD
+ 0.97
SPTM
SPMD
+ 0.96
SPSM
SPSM
+ 0.89
SPTM
SPTM
+ 0.56
SPEM
SPMD
+ 0.49
SPEM
SPSM
+ 0.32
SPEM
  
High negative correlations   
SPAB
- 0.71
SPTM
SPAB
- 0.68
SPMD
SPAB
- 0.59
SPSM
SPAB
- 0.25
SPEM

SPDR SP Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR SP 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 SP'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.

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