SP Funds Correlations

SPRE Etf

USD 20.38 0.24 1.19%

The current 90-days correlation between SP Funds SP and Global X Social is 0.09 (i.e., Significant diversification). The correlation of SP Funds 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 Funds Correlation With Market

Weak diversification

The correlation between SP Funds SP and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SP Funds SP and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPRE Etf

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

Moving together with SPRE Etf

0.73	USRT	iShares Core REIT	Pair Corr
0.77	IRET	iREIT MarketVector	Pair Corr
0.64	RWR	SPDR Dow Jones	Pair Corr
0.7	TOT	Advisor Managed Port	Pair Corr
0.64	SHLD	Global X Defense	Pair Corr
0.66	FB	ProShares Trust ProShares	Pair Corr
0.71	SWP	SWP Growth Income	Pair Corr
0.8	DUKH	Ocean Park High	Pair Corr
0.72	JEPI	JPMorgan Equity Premium Sell-off Trend	Pair Corr
0.68	BA	Boeing Sell-off Trend	Pair Corr
0.72	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.61	WMT	Walmart Common Stock Aggressive Push	Pair Corr

Moving against SPRE Etf

0.43

MSFT

Microsoft

Pair Corr

Related Correlations Analysis

	SOCL	XTL	SHDG	UMMA	AUGW	OGIG	GLOF	FPXI	HERO	GGME
SOCL		0.56	0.16	0.44	0.15	0.57	0.34	0.69	0.68	0.53	SOCL
XTL	0.56		0.73	0.85	0.77	-0.03	0.83	0.86	-0.08	-0.16	XTL
SHDG	0.16	0.73		0.79	0.97	-0.27	0.91	0.61	-0.44	-0.46	SHDG
UMMA	0.44	0.85	0.79		0.86	-0.31	0.9	0.85	-0.23	-0.44	UMMA
AUGW	0.15	0.77	0.97	0.86		-0.38	0.93	0.63	-0.51	-0.55	AUGW
OGIG	0.57	-0.03	-0.27	-0.31	-0.38		-0.31	0.1	0.81	0.93	OGIG
GLOF	0.34	0.83	0.91	0.9	0.93	-0.31		0.74	-0.34	-0.43	GLOF
FPXI	0.69	0.86	0.61	0.85	0.63	0.1	0.74		0.16	-0.04	FPXI
HERO	0.68	-0.08	-0.44	-0.23	-0.51	0.81	-0.34	0.16		0.87	HERO
GGME	0.53	-0.16	-0.46	-0.44	-0.55	0.93	-0.43	-0.04	0.87		GGME
	SOCL	XTL	SHDG	UMMA	AUGW	OGIG	GLOF	FPXI	HERO	GGME

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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

AUGW	+ 0.97	SHDG
GLOF	+ 0.93	AUGW
GGME	+ 0.93	OGIG
GLOF	+ 0.91	SHDG
GLOF	+ 0.9	UMMA
GGME	+ 0.87	HERO

High negative correlations

GGME	- 0.55	AUGW
HERO	- 0.51	AUGW
GGME	- 0.46	SHDG
GGME	- 0.44	UMMA
HERO	- 0.44	SHDG
GGME	- 0.43	GLOF

SP Funds Constituents Risk-Adjusted Indicators

There is a big difference between SPRE Etf performing well and SP Funds 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 SP Funds' 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
SOCL	0.98	(0.12)	0.00	(0.03)	0.00	0.00	2.06	(2.30)	5.83
XTL	1.47	(0.05)	0.01	0.06	1.95	(1.46)	2.63	(3.24)	8.95
SHDG	0.41	0.03	(0.07)	0.28	0.49	(0.42)	0.79	(0.98)	2.48
UMMA	0.72	0.09	0.08	0.19	0.77	(0.81)	1.62	(1.45)	3.61
AUGW	0.19	0.02	(0.26)	0.30	0.09	(0.21)	0.44	(0.37)	1.22
OGIG	0.91	(0.20)	0.00	(0.76)	0.00	0.00	1.60	(2.20)	5.33
GLOF	0.51	0.02	(0.01)	0.11	0.56	(0.55)	1.04	(1.10)	2.89
FPXI	0.90	(0.02)	(0.02)	0.07	1.15	(0.85)	1.76	(1.91)	5.08
HERO	0.79	(0.14)	0.00	(0.09)	0.00	0.00	1.69	(2.12)	5.05
GGME	0.75	(0.24)	0.00	(0.20)	0.00	0.00	1.66	(2.13)	4.90

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