SPDR Russell Correlations

SPMD Etf

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The current 90-days correlation between SPDR Russell Small and Avantis Emerging Markets is 0.65 (i.e., Poor diversification). The correlation of SPDR Russell 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.

SPDR Russell Correlation With Market

Almost no diversification

The correlation between SPDR Russell Small and DJI is 0.95 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Russell Small 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 Russell Small. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with SPDR Etf

0.96	VO	Vanguard Mid Cap Sell-off Trend	Pair Corr
0.91	VXF	Vanguard Extended Market	Pair Corr
1.0	IJH	iShares Core SP	Pair Corr
0.99	IWR	iShares Russell Mid Sell-off Trend	Pair Corr
1.0	MDY	SPDR SP MIDCAP	Pair Corr
0.92	FV	First Trust Dorsey	Pair Corr
1.0	IVOO	Vanguard SP Mid	Pair Corr
1.0	JHMM	John Hancock Multifactor	Pair Corr
0.99	BBMC	JPMorgan BetaBuilders Mid	Pair Corr
0.95	XMMO	Invesco SP MidCap	Pair Corr
0.99	WSML	iShares MSCI World	Pair Corr
0.94	PULS	PGIM Ultra Short	Pair Corr
0.96	CPSR	Calamos SP 500	Pair Corr
0.9	UDI	USCF ETF Trust	Pair Corr
0.94	GAPR	First Trust Exchange	Pair Corr
0.81	GPT	Intelligent Alpha Atlas Symbol Change	Pair Corr
0.7	DBA	Invesco DB Agriculture	Pair Corr
0.9	LVHI	Franklin International Low Volatility	Pair Corr
0.93	CCNR	CoreCommodity Natural	Pair Corr
0.99	ESML	iShares ESG Aware	Pair Corr
0.96	FIDU	Fidelity MSCI Industrials	Pair Corr
0.75	DOGG	First Trust Exchange Low Volatility	Pair Corr
0.64	GOOX	Etf Opportunities Trust	Pair Corr
0.93	CHPS	Xtrackers Semiconductor	Pair Corr
0.98	NULV	Nuveen ESG Large	Pair Corr
0.92	JANW	AIM ETF Products	Pair Corr
0.94	UMAY	Innovator ETFs Trust	Pair Corr
0.9	PCEM	Litman Gregory Funds	Pair Corr
0.92	FPXE	First Trust IPOX	Pair Corr
0.94	PFFA	Virtus InfraCap Preferred	Pair Corr
0.96	IQSZ	Invesco Actively Managed	Pair Corr

Moving against SPDR Etf

0.8	JEM	707 Cayman Holdings	Pair Corr
0.6	SWIN	Alps Symbol Change	Pair Corr
0.7	MPAY	Exchange Traded Concepts	Pair Corr

Related Correlations Analysis

	SPSM	SPEM	VFH	VTWO	VONV	BBJP	XLP	SCHV	IWO	AVEM
SPSM		0.86	0.47	0.97	0.98	0.87	0.85	0.96	0.89	0.87	SPSM
SPEM	0.86		0.2	0.83	0.92	0.91	0.84	0.93	0.72	0.99	SPEM
VFH	0.47	0.2		0.52	0.44	0.16	0.03	0.36	0.58	0.17	VFH
VTWO	0.97	0.83	0.52		0.94	0.79	0.75	0.91	0.96	0.82	VTWO
VONV	0.98	0.92	0.44	0.94		0.91	0.88	0.99	0.83	0.93	VONV
BBJP	0.87	0.91	0.16	0.79	0.91		0.93	0.95	0.63	0.93	BBJP
XLP	0.85	0.84	0.03	0.75	0.88	0.93		0.92	0.56	0.89	XLP
SCHV	0.96	0.93	0.36	0.91	0.99	0.95	0.92		0.78	0.95	SCHV
IWO	0.89	0.72	0.58	0.96	0.83	0.63	0.56	0.78		0.7	IWO
AVEM	0.87	0.99	0.17	0.82	0.93	0.93	0.89	0.95	0.7		AVEM
	SPSM	SPEM	VFH	VTWO	VONV	BBJP	XLP	SCHV	IWO	AVEM

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SPDR Russell Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Russell 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 Russell'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
SPSM	0.83	0.08	0.09	0.13	0.75	(0.97)	2.31	(1.85)	5.00
SPEM	0.57	0.06	0.05	0.17	0.57	(0.62)	1.33	(1.07)	4.12
VFH	0.75	(0.09)	0.00	(0.02)	0.00	0.00	1.45	(1.80)	4.47
VTWO	0.93	0.04	0.05	0.10	1.03	(0.97)	1.96	(1.85)	5.61
VONV	0.55	0.08	0.10	0.16	0.47	(0.60)	1.38	(1.05)	3.01
BBJP	0.81	0.18	0.17	0.27	0.70	(0.92)	2.16	(1.53)	4.39
XLP	0.63	0.23	0.32	1.35	0.00	(0.77)	1.43	(0.84)	3.39
SCHV	0.54	0.10	0.14	0.19	0.42	(0.63)	1.29	(1.11)	3.25
IWO	1.08	(0.03)	(0.01)	0.04	1.39	(1.07)	2.02	(1.96)	6.58
AVEM	0.67	0.13	0.13	0.28	0.58	(0.73)	1.55	(1.25)	4.48

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