SPDR SSGA Correlations

SPIN Etf

USD 32.73 0.09 0.28%

The current 90-days correlation between SPDR SSGA Equity and Parametric Equity Plus is -0.06 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR SSGA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR SSGA Equity moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR SSGA Correlation With Market

Poor diversification

The correlation between SPDR SSGA Equity and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SSGA Equity 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 Equity. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with SPDR Etf

0.73	TOT	Advisor Managed Port	Pair Corr
0.63	FB	ProShares Trust ProShares	Pair Corr
0.65	JAVA	JPMorgan Active Value	Pair Corr
0.75	BELT	BlackRock Long Term	Pair Corr
0.64	SCJ	iShares MSCI Japan	Pair Corr
0.89	TJUL	Innovator Etfs Trust	Pair Corr
0.75	QLC	FlexShares Quality Large	Pair Corr
0.9	FTBI	First Trust Exchange	Pair Corr
0.62	QQH	HCM Defender 100	Pair Corr
0.87	PBJA	PGIM Rock ETF	Pair Corr
0.64	CSD	Invesco SP Spin	Pair Corr
0.61	CPER	United States Copper	Pair Corr
0.82	BATT	Amplify Lithium Battery	Pair Corr
0.68	QQQM	Invesco NASDAQ 100	Pair Corr
0.71	SLX	VanEck Steel ETF	Pair Corr
0.63	CPSU	Calamos SP 500	Pair Corr
0.96	HLAL	Wahed FTSE USA	Pair Corr
0.74	VOO	Vanguard SP 500	Pair Corr

Moving against SPDR Etf

0.5	NFLX	Netflix	Pair Corr
0.44	PRME	Prime Medicine, Common	Pair Corr
0.37	GRI	GRI Bio	Pair Corr
0.33	AMLX	Amylyx Pharmaceuticals	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	0.54	-0.62	0.54	-0.57	0.22	-0.15	-0.56	-0.61	META
MSFT	0.66		0.83	-0.51	0.36	-0.2	0.07	-0.32	-0.77	-0.61	MSFT
UBER	0.54	0.83		-0.61	0.57	-0.27	-0.14	-0.27	-0.85	-0.59	UBER
F	-0.62	-0.51	-0.61		-0.7	0.53	0.3	0.41	0.69	0.75	F
T	0.54	0.36	0.57	-0.7		-0.52	-0.5	-0.21	-0.53	-0.47	T
A	-0.57	-0.2	-0.27	0.53	-0.52		-0.18	-0.26	0.46	0.23	A
CRM	0.22	0.07	-0.14	0.3	-0.5	-0.18		0.37	0.07	0.17	CRM
JPM	-0.15	-0.32	-0.27	0.41	-0.21	-0.26	0.37		0.32	0.41	JPM
MRK	-0.56	-0.77	-0.85	0.69	-0.53	0.46	0.07	0.32		0.65	MRK
XOM	-0.61	-0.61	-0.59	0.75	-0.47	0.23	0.17	0.41	0.65		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.83	MSFT
XOM	+ 0.75	F
MRK	+ 0.69	F
MSFT	+ 0.66	META
XOM	+ 0.65	MRK
T	+ 0.57	UBER

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.77	MSFT
T	- 0.7	F
F	- 0.62	META
F	- 0.61	UBER
XOM	- 0.61	MSFT

SPDR SSGA Competition 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
META	1.39	(0.24)	0.00	(0.19)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.90	(0.11)	0.00	(0.11)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.46	(0.35)	0.00	(0.25)	0.00	0.00	2.60	(3.82)	10.51
F	1.51	0.13	0.08	0.16	1.69	(1.65)	3.38	(2.63)	16.30
T	0.97	(0.24)	0.00	(0.75)	0.00	0.00	1.61	(2.18)	5.75
A	1.25	0.07	0.06	0.13	1.31	(1.37)	2.34	(2.21)	11.03
CRM	1.54	0.06	0.03	0.13	1.97	(1.52)	3.66	(2.92)	9.91
JPM	1.05	0.00	0.01	0.07	1.40	(1.05)	2.00	(1.91)	7.02
MRK	1.45	0.40	0.28	0.53	1.08	(1.84)	4.85	(2.06)	11.45
XOM	0.94	0.06	0.01	0.33	0.99	(1.00)	1.96	(1.51)	4.99

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