SPDR Portfolio Correlations

SPYV Etf

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The current 90-days correlation between SPDR Portfolio SP and iShares SP 100 is 0.74 (i.e., Poor diversification). The correlation of SPDR Portfolio 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 Portfolio Correlation With Market

Almost no diversification

The correlation between SPDR Portfolio SP and DJI is 0.97 (i.e., Almost no 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.

Build AI portfolio with SPDR Etf

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 private.

Moving together with SPDR Etf

0.98	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.97	VYM	Vanguard High Dividend Sell-off Trend	Pair Corr
0.99	IWD	iShares Russell 1000 Sell-off Trend	Pair Corr
0.98	DGRO	iShares Core Dividend Sell-off Trend	Pair Corr
1.0	IVE	iShares SP 500	Pair Corr
1.0	IUSV	iShares Core SP	Pair Corr
0.92	NOBL	ProShares SP 500	Pair Corr
0.96	FNDX	Schwab Fundamental Large Sell-off Trend	Pair Corr
0.97	VLUE	iShares MSCI USA	Pair Corr
0.89	TOT	Advisor Managed Port	Pair Corr
0.79	SHLD	Global X Defense	Pair Corr
0.69	LUX	Tema Global	Pair Corr
0.88	FB	ProShares Trust ProShares	Pair Corr
0.96	SWP	SWP Growth Income	Pair Corr
0.9	CALY	Callaway Golf Symbol Change	Pair Corr
0.87	VBK	Vanguard Small Cap	Pair Corr
0.91	RDIV	Invesco SP Ultra	Pair Corr
0.94	AHYB	American Century ETF	Pair Corr
0.95	BINC	BlackRock ETF Trust	Pair Corr
0.83	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.88	MRK	Merck Company	Pair Corr
0.95	DD	Dupont De Nemours	Pair Corr
0.9	AA	Alcoa Corp	Pair Corr
0.72	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.79	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.64	HD	Home Depot	Pair Corr
0.8	INTC	Intel	Pair Corr
0.82	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against SPDR Etf

0.75

HPQ

HP Inc Aggressive Push

Pair Corr

Related Correlations Analysis

	SPDW	VITNX	VOE	XLY	OEF	XLE	TQQQ	VMGIX	VOT	MGK
SPDW		0.84	0.97	0.63	0.47	0.87	0.14	-0.01	0.0	-0.23	SPDW
VITNX	0.84		0.85	0.85	0.85	0.57	0.43	0.46	0.46	0.29	VITNX
VOE	0.97	0.85		0.65	0.47	0.85	0.08	0.0	0.0	-0.25	VOE
XLY	0.63	0.85	0.65		0.76	0.25	0.49	0.59	0.6	0.4	XLY
OEF	0.47	0.85	0.47	0.76		0.16	0.62	0.69	0.69	0.7	OEF
XLE	0.87	0.57	0.85	0.25	0.16		-0.05	-0.34	-0.34	-0.53	XLE
TQQQ	0.14	0.43	0.08	0.49	0.62	-0.05		0.63	0.63	0.63	TQQQ
VMGIX	-0.01	0.46	0.0	0.59	0.69	-0.34	0.63		1.0	0.85	VMGIX
VOT	0.0	0.46	0.0	0.6	0.69	-0.34	0.63	1.0		0.85	VOT
MGK	-0.23	0.29	-0.25	0.4	0.7	-0.53	0.63	0.85	0.85		MGK
	SPDW	VITNX	VOE	XLY	OEF	XLE	TQQQ	VMGIX	VOT	MGK

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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

VOT	+ 1.0	VMGIX
VOE	+ 0.97	SPDW
XLE	+ 0.87	SPDW
VOE	+ 0.85	VITNX
XLY	+ 0.85	VITNX
OEF	+ 0.85	VITNX

High negative correlations

MGK	- 0.53	XLE
VOT	- 0.34	XLE
VMGIX	- 0.34	XLE
MGK	- 0.25	VOE
MGK	- 0.23	SPDW
TQQQ	- 0.05	XLE

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SPDW	0.61	0.14	0.14	0.27	0.54	(0.66)	1.41	(1.27)	3.01
VITNX	0.58	(0.02)	(0.05)	0.06	0.75	(0.61)	1.20	(1.28)	3.55
VOE	0.59	0.10	0.11	0.21	0.48	(0.64)	1.48	(1.19)	3.27
XLY	0.84	(0.10)	0.00	(0.02)	0.00	0.00	1.67	(2.16)	4.74
OEF	0.56	(0.06)	(0.10)	0.01	0.83	(0.55)	1.03	(1.42)	4.23
XLE	1.07	0.30	0.18	1.14	0.98	(1.20)	2.42	(1.82)	5.38
TQQQ	2.45	(0.19)	0.00	(66.83)	0.00	0.00	4.28	(6.13)	13.87
VMGIX	0.79	(0.15)	0.00	(0.06)	0.00	0.00	1.40	(1.89)	3.76
VOT	0.78	(0.15)	0.00	(0.06)	0.00	0.00	1.40	(1.92)	3.93
MGK	0.78	(0.14)	0.00	(0.09)	0.00	0.00	1.44	(1.98)	5.12

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