SP Funds Correlations

Etfs USA . 
Etf . SP Funds Trust
SPTE Etf   27.74  0.45  1.65%   
The current 90-days correlation between SP Funds Trust and Nexalin Technology is 0.24 (i.e., Modest 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

Very weak diversification

The correlation between SP Funds Trust and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SP Funds Trust 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 Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with SPTE Etf

  0.9VGT Vanguard InformationPairCorr
  0.95XLK Technology Select SectorPairCorr
  0.91IYW iShares Technology ETFPairCorr
  0.96SMH VanEck Semiconductor ETFPairCorr
  0.66SOXX iShares Semiconductor ETFPairCorr
  0.78CIBR First Trust NASDAQPairCorr
  0.9FTEC Fidelity MSCI InformationPairCorr
  0.61IGV iShares Expanded TechPairCorr
  0.69FDN First Trust DowPairCorr
  0.89IGM iShares Expanded TechPairCorr
  0.77IYM iShares Basic MaterialsPairCorr
  0.64IYC iShares Consumer DisPairCorr
  0.81VTI Vanguard Total StockPairCorr
  0.67VBK Vanguard Small CapPairCorr
  0.76HPQ HP IncPairCorr
  0.69AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.87CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.8AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr

Moving against SPTE Etf

  0.6MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.56JNJ Johnson Johnson Sell-off TrendPairCorr

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   
KRT
+ 0.89
NXL
HIW
+ 0.73
KRC
KRT
+ 0.67
KRC
RA
+ 0.6
KRC
KRC
+ 0.49
NXL
RA
+ 0.42
HIW
  
High negative correlations   
HIW
- 0.1
NXL

SP Funds Constituents Risk-Adjusted Indicators

There is a big difference between SPTE 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.

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