State Street Correlations
| SPYM Etf | 81.22 0.24 0.29% |
A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as State Street moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if State Street SPDR moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
State Street Correlation With Market
Very poor diversification
The correlation between State Street SPDR and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding State Street SPDR and DJI in the same portfolio, assuming nothing else is changed.
Moving together with State Etf
| 0.99 | SSO | ProShares Ultra SP500 Sell-off Trend | PairCorr |
| 0.97 | SPXL | Direxion Daily SP500 Sell-off Trend | PairCorr |
| 0.88 | QLD | ProShares Ultra QQQ Sell-off Trend | PairCorr |
| 0.97 | UPRO | ProShares UltraPro SP500 Sell-off Trend | PairCorr |
| 0.64 | TECL | Direxion Daily Technology | PairCorr |
| 0.67 | LABU | Direxion Daily SP | PairCorr |
| 0.61 | FNGU | MicroSectors FANG Index Symbol Change | PairCorr |
| 0.66 | USD | ProShares Ultra Semi | PairCorr |
| 0.77 | FTBI | First Trust Exchange | PairCorr |
| 0.74 | FFLG | Fidelity Covington Trust Low Volatility | PairCorr |
| 0.63 | ZSB | USCF Sustainable Battery | PairCorr |
| 0.75 | CPSU | Calamos SP 500 | PairCorr |
| 0.97 | ITDJ | iShares Trust | PairCorr |
| 0.94 | HLAL | Wahed FTSE USA | PairCorr |
| 0.7 | FLCV | Federated Hermes ETF | PairCorr |
| 0.94 | QQQM | Invesco NASDAQ 100 | PairCorr |
| 0.75 | QULL | ETRACS 2x Leveraged | PairCorr |
| 0.79 | ECOW | Pacer Emerging Markets | PairCorr |
| 0.88 | CSD | Invesco SP Spin | PairCorr |
| 0.86 | QQH | HCM Defender 100 | PairCorr |
| 0.63 | FSST | Fidelity Sustainability | PairCorr |
Moving against State Etf
Related Correlations Analysis
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
| High negative correlations
|
State Street Constituents Risk-Adjusted Indicators
There is a big difference between State Etf performing well and State Street 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 State Street'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| USVT | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| QQD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| IFIX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| TIPL | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CLNR | 1.62 | (0.08) | 0.00 | 0.17 | 0.00 | 1.85 | 16.15 | |||
| NSPL | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| MLTI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BRKY | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| GLBY | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| OCTD | 0.04 | 0.02 | 0.00 | (1.70) | 0.00 | 0.13 | 0.34 |