SPDR Portfolio Correlations

Etfs . USA . 
Etf . SPDR Portfolio SP
SPSM Etf  USD 48.61  0.77  1.61%   
The current 90-days correlation between SPDR Portfolio SP and SPDR Russell Small is 0.97 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR Portfolio moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR Portfolio SP moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR Portfolio Correlation With Market

Very poor diversification

The correlation between SPDR Portfolio SP and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Portfolio SP 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 SPDR Portfolio 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 state.

Moving together with SPDR Etf

  0.97VB Vanguard Small CapPairCorr
  1.0IJR iShares Core SPPairCorr
  0.99IWM iShares Russell 2000 Aggressive PushPairCorr
  0.99VRTIX Vanguard Russell 2000PairCorr
  0.99VTWO Vanguard Russell 2000PairCorr
  0.99FNDA Schwab Fundamental SmallPairCorr
  0.99DFAS Dimensional Small CapPairCorr
  1.0VIOO Vanguard SP SmallPairCorr
  0.99PRFZ Invesco FTSE RAFIPairCorr
  0.9VTI Vanguard Total StockPairCorr
  0.88SPY SPDR SP 500 Aggressive PushPairCorr
  0.87IVV iShares Core SPPairCorr
  0.85VTV Vanguard Value IndexPairCorr
  0.87VUG Vanguard Growth IndexPairCorr
  0.89VO Vanguard Mid CapPairCorr
  0.84DIVB iShares DividendPairCorr
  0.84BTC Grayscale Bitcoin MiniPairCorr
  0.77DISO Tidal Trust IIPairCorr
  0.78MSTY YieldMax MSTR OptionPairCorr
  0.87DIVG Invesco Exchange TradedPairCorr
  0.82INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.76DIS Walt DisneyPairCorr
  0.81CSCO Cisco Systems Aggressive PushPairCorr
  0.77AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.73WMT Walmart Aggressive PushPairCorr
  0.83CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr

Moving against SPDR Etf

  0.62BND Vanguard Total BondPairCorr
  0.44VEA Vanguard FTSE DevelopedPairCorr
  0.75JNJ Johnson Johnson Sell-off TrendPairCorr
  0.68PFE Pfizer Inc Aggressive PushPairCorr
  0.68MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr

Related Correlations Analysis

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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   
SPTM
+ 0.97
SPMD
SLYV
+ 0.95
SPMD
SLYV
+ 0.88
SPTM
SPTM
+ 0.51
SPEM
SPEM
+ 0.41
SPMD
SPEM
+ 0.3
SPDW
  
High negative correlations   
SLYV
- 0.49
SPDW
SPTM
- 0.43
SPDW
SPDW
- 0.43
SPMD

SPDR Portfolio Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Portfolio 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 Portfolio'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.

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