SP Global Correlations

SPGI Stock

USD 512.66 9.93 1.90%

The current 90-days correlation between SP Global and Banco Santander SA is -0.19 (i.e., Good diversification). The correlation of SP Global 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.

SP Global Correlation With Market

Average diversification

The correlation between SP Global and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SP Global and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPGI Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SP Global. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

For more detail on how to invest in SPGI Stock please use our How to Invest in SP Global guide.

Moving together with SPGI Stock

0.91	MCO	Moodys	Pair Corr
0.81	NDAQ	Nasdaq Inc	Pair Corr
0.72	ACN	Accenture plc	Pair Corr
0.7	VLKAF	Volkswagen AG	Pair Corr
0.68	VWAGY	Volkswagen AG 110	Pair Corr
0.62	VLKPF	Volkswagen AG VZO	Pair Corr
0.74	BNXAF	Banxa Holdings	Pair Corr
0.82	FTV	Fortive Corp	Pair Corr
0.74	BROS	Dutch Bros	Pair Corr
0.78	DB	Deutsche Bank AG	Pair Corr
0.86	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.7	MEOAF	Melbana Energy	Pair Corr
0.62	DGWPF	Drgerwerk AG	Pair Corr
0.7	LCDX	Caliber Imaging Diag	Pair Corr
0.8	NAUFF	NevGold Corp	Pair Corr

Moving against SPGI Stock

0.82	LFIN	LongFin Corp	Pair Corr
0.67	JD	JD Inc Adr Aggressive Push	Pair Corr
0.62	300059	East Money Information	Pair Corr
0.55	694308HY6	US694308HY69	Pair Corr

Related Correlations Analysis

	BAC	SAN	BLK	MCO	TD	COF	IBKR
BAC		0.87	-0.41	0.72	0.88	0.89	-0.34	BAC
SAN	0.87		-0.38	0.74	0.93	0.86	-0.42	SAN
BLK	-0.41	-0.38		-0.1	-0.3	-0.11	0.6	BLK
MCO	0.72	0.74	-0.1		0.77	0.82	-0.13	MCO
TD	0.88	0.93	-0.3	0.77		0.93	-0.48	TD
COF	0.89	0.86	-0.11	0.82	0.93		-0.26	COF
IBKR	-0.34	-0.42	0.6	-0.13	-0.48	-0.26		IBKR
	BAC	SAN	BLK	MCO	TD	COF	IBKR

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

TD	+ 0.93	SAN
COF	+ 0.93	TD
COF	+ 0.89	BAC
TD	+ 0.88	BAC
SAN	+ 0.87	BAC
COF	+ 0.86	SAN

High negative correlations

IBKR	- 0.48	TD
IBKR	- 0.42	SAN
BLK	- 0.41	BAC
BLK	- 0.38	SAN
IBKR	- 0.34	BAC
TD	- 0.3	BLK

Risk-Adjusted Indicators

There is a big difference between SPGI Stock performing well and SP Global Company 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 SP Global'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
BAC	0.95	0.07	0.06	0.13	1.15	(1.04)	1.73	(2.16)	7.89
SAN	1.28	0.16	0.12	0.19	1.32	(1.38)	2.90	(2.21)	6.26
BLK	1.05	(0.17)	0.00	(0.08)	0.00	0.00	2.24	(2.59)	6.62
MCO	0.97	0.04	0.01	0.11	1.42	(0.92)	1.59	(2.30)	6.29
TD	0.70	0.23	0.21	0.40	0.55	(0.80)	2.02	(1.68)	4.09
COF	1.15	0.15	0.09	0.15	1.77	(1.17)	2.79	(2.61)	8.73
IBKR	1.78	(0.12)	0.00	(0.01)	0.00	0.00	3.71	(3.97)	11.68

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