SP Funds Correlations

SPSK Etf

USD 18.05 0.03 0.17%

The current 90-days correlation between SP Funds Dow and Invesco Fundamental Investment is 0.35 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SP Funds moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SP Funds Dow moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SP Funds Correlation With Market

Average diversification

The correlation between SP Funds Dow and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SP Funds Dow 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 SP Funds Dow. 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 SPSK Etf

0.82	IGOV	iShares International	Pair Corr
0.84	BWX	SPDR Bloomberg Inter	Pair Corr
0.82	WIP	SPDR FTSE International	Pair Corr
0.87	JPIB	JPMorgan International	Pair Corr
0.83	BWZ	SPDR Bloomberg Short	Pair Corr
0.84	PICB	Invesco International	Pair Corr
0.92	GRNB	VanEck Green Bond	Pair Corr
0.78	ISHG	iShares 1 3	Pair Corr
0.64	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.68	VZ	Verizon Communications Aggressive Push	Pair Corr
0.67	PG	Procter Gamble	Pair Corr
0.78	KO	Coca Cola Aggressive Push	Pair Corr

Moving against SPSK Etf

0.7	NVDL	GraniteShares 15x Long	Pair Corr
0.7	NVDX	T Rex 2X	Pair Corr
0.7	NVDU	Direxion Daily NVDA	Pair Corr
0.66	CRPT	First Trust SkyBridge	Pair Corr
0.66	STCE	Schwab Strategic Trust	Pair Corr
0.65	DAPP	VanEck Digital Trans	Pair Corr
0.65	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.65	BITQ	Bitwise Crypto Industry Downward Rally	Pair Corr
0.63	CONL	GraniteShares ETF Trust	Pair Corr
0.61	BITX	Volatility Shares Trust Trending	Pair Corr
0.47	SPY	SPDR SP 500	Pair Corr
0.77	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.66	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.53	HPQ	HP Inc	Pair Corr
0.51	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.5	DIS	Walt Disney Aggressive Push	Pair Corr
0.44	PPA	Invesco Aerospace Defense	Pair Corr
0.42	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.41	WMT	Walmart Aggressive Push	Pair Corr
0.4	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.39	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr

Related Correlations Analysis

	PFIG	HYXU	IHY
PFIG		0.79	0.72	PFIG
HYXU	0.79		0.84	HYXU
IHY	0.72	0.84		IHY
	PFIG	HYXU	IHY

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SP Funds Constituents Risk-Adjusted Indicators

There is a big difference between SPSK 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
PFIG	0.17	(0.02)	(1.59)	0.34	(0.42)	1.23
HYXU	0.36	(0.06)	(2.97)	0.75	(0.64)	2.27
IHY	0.22	(0.03)	(0.29)	0.33	(0.47)	1.46

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