SPDR Portfolio Correlations

SPEU Etf  USD 40.79  0.16  0.39%   
The current 90-days correlation between SPDR Portfolio Europe and Franklin FTSE Europe is -0.05 (i.e., Good diversification). The correlation of SPDR Portfolio 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 Portfolio Correlation With Market

Average diversification

The correlation between SPDR Portfolio Europe and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Portfolio Europe 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 Europe. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with SPDR Etf

  1.0VGK Vanguard FTSE EuropePairCorr
  0.89EZU iShares MSCI EurozonePairCorr
  0.9BBEU JPMorgan BetaBuildersPairCorr
  1.0IEUR iShares Core MSCIPairCorr
  0.83FEZ SPDR EURO STOXXPairCorr
  1.0IEV iShares Europe ETFPairCorr
  0.96FEP First Trust EuropePairCorr
  0.65BKT BlackRock Income ClosedPairCorr

Moving against SPDR Etf

  0.73YCS ProShares UltraShort YenPairCorr
  0.68GBTC Grayscale Bitcoin TrustPairCorr
  0.43MLPR ETRACS Quarterly PayPairCorr
  0.68IBIT iShares Bitcoin Trust Aggressive PushPairCorr
  0.65TBT ProShares UltraShortPairCorr
  0.65SEIX Virtus ETF TrustPairCorr
  0.59ICSH iShares Ultra ShortPairCorr
  0.57XLY Consumer DiscretionaryPairCorr
  0.57BETE ProShares TrustPairCorr
  0.53ATMP Barclays ETN Select Low VolatilityPairCorr
  0.49HFGO Hartford Large CapPairCorr
  0.42RXI iShares Global ConsumerPairCorr
  0.38QQQ Invesco QQQ Trust Aggressive PushPairCorr
  0.38EWV ProShares UltraShort MSCI Potential GrowthPairCorr
  0.34PVI Invesco VRDO TaxPairCorr
  0.33SHYG iShares 0 5PairCorr

Related Correlations Analysis

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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.