SPDR SP Correlations

SPY Etf

USD 590.50 0.20 0.03%

The current 90-days correlation between SPDR SP 500 and Vanguard Total Stock is 1.0 (i.e., No risk reduction). The correlation of SPDR SP 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. If the correlation is 0, the equities are not correlated; they are entirely random.

SPDR SP Correlation With Market

Significant diversification

The correlation between SPDR SP 500 and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP 500 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 SP 500. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with SPDR Etf

1.0	VTI	Vanguard Total Stock	Pair Corr
1.0	IVV	iShares Core SP	Pair Corr
0.94	VIG	Vanguard Dividend	Pair Corr
1.0	VV	Vanguard Large Cap	Pair Corr
0.98	RSP	Invesco SP 500	Pair Corr
1.0	IWB	iShares Russell 1000	Pair Corr
1.0	ESGU	iShares ESG Aware	Pair Corr
0.99	DFAC	Dimensional Core Equity	Pair Corr
1.0	SPLG	SPDR Portfolio SP	Pair Corr
0.73	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.89	USD	ProShares Ultra Semi	Pair Corr
0.93	TECL	Direxion Daily Technology	Pair Corr
0.94	ROM	ProShares Ultra Tech	Pair Corr
0.98	QLD	ProShares Ultra QQQ Sell-off Trend	Pair Corr
0.79	SMH	VanEck Semiconductor ETF	Pair Corr
1.0	SPXL	Direxion Daily SP500	Pair Corr
1.0	UPRO	ProShares UltraPro SP500	Pair Corr
0.81	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.71	WMT	Walmart Aggressive Push	Pair Corr
0.75	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.85	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.77	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.85	CSCO	Cisco Systems	Pair Corr
0.69	HD	Home Depot	Pair Corr
0.75	HPQ	HP Inc	Pair Corr
0.84	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr

Moving against SPDR Etf

0.74	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.5	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr

Related Correlations Analysis

	GLD	SPY	VNQ	VTI	VWO	DHDG	Z	MBCC	MBBB
GLD		0.6	0.21	0.57	0.74	-0.58	0.22	0.54	-0.27	GLD
SPY	0.6		-0.06	1.0	0.53	0.03	0.68	0.94	-0.44	SPY
VNQ	0.21	-0.06		-0.08	0.11	0.1	0.07	0.16	0.67	VNQ
VTI	0.57	1.0	-0.08		0.49	0.05	0.69	0.94	-0.45	VTI
VWO	0.74	0.53	0.11	0.49		-0.17	0.27	0.54	0.04	VWO
DHDG	-0.58	0.03	0.1	0.05	-0.17		0.25	0.18	0.42	DHDG
Z	0.22	0.68	0.07	0.69	0.27	0.25		0.73	-0.08	Z
MBCC	0.54	0.94	0.16	0.94	0.54	0.18	0.73		-0.17	MBCC
MBBB	-0.27	-0.44	0.67	-0.45	0.04	0.42	-0.08	-0.17		MBBB
	GLD	SPY	VNQ	VTI	VWO	DHDG	Z	MBCC	MBBB

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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

VTI	+ 1.0	SPY
MBCC	+ 0.94	SPY
MBCC	+ 0.94	VTI
VWO	+ 0.74	GLD
MBCC	+ 0.73	Z
Z	+ 0.69	VTI

High negative correlations

DHDG	- 0.58	GLD
MBBB	- 0.45	VTI
MBBB	- 0.44	SPY
MBBB	- 0.27	GLD
MBBB	- 0.17	MBCC
DHDG	- 0.17	VWO

SPDR SP Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR SP 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 SP'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
GLD	0.69	0.07	(0.01)	1.79	0.85	(0.73)	1.55	(1.21)	4.80
SPY	0.54	0.07	(0.01)	2.18	0.67	(0.54)	1.12	(1.28)	3.77
VNQ	0.66	0.01	(0.09)	2.24	0.86	(0.66)	1.21	(1.38)	3.58
VTI	0.56	0.08	0.00	2.56	0.68	(0.60)	1.07	(1.27)	4.07
VWO	0.81	0.02	(0.06)	0.91	0.99	(0.92)	2.10	(1.70)	6.41
DHDG	0.28	0.02	(0.11)	0.43	0.33	(0.29)	0.53	(0.68)	2.01
Z	2.19	0.57	0.24	2.42	1.62	(2.64)	4.77	(2.96)	25.67
MBCC	0.53	0.05	(0.04)	1.77	0.63	(0.55)	1.12	(1.07)	3.36
MBBB	0.23	(0.02)	0.00	(1.34)	0.00	0.00	0.51	(0.55)	1.49

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