SPDR SP Correlations

Etfs . USA . 
Etf . SPDR SP 500
SPYX Etf  USD 49.03  0.00  0.00%   
The current 90-days correlation between SPDR SP 500 and iShares MSCI KLD is 0.99 (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

Weak diversification

The correlation between SPDR SP 500 and DJI is 0.31 (i.e., Weak 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 manufacturing.

Moving together with SPDR Etf

  0.99VTI Vanguard Total StockPairCorr
  1.0SPY SPDR SP 500 Aggressive PushPairCorr
  1.0IVV iShares Core SPPairCorr
  0.69VIG Vanguard DividendPairCorr
  1.0VV Vanguard Large CapPairCorr
  0.99IWB iShares Russell 1000PairCorr
  0.99ESGU iShares ESG AwarePairCorr
  0.87DFAC Dimensional Core EquityPairCorr
  1.0SPLG SPDR Portfolio SPPairCorr
  0.75GBTC Grayscale Bitcoin TrustPairCorr
  0.64MLPR ETRACS Quarterly PayPairCorr
  0.65ATMP Barclays ETN Select Low VolatilityPairCorr
  0.75CSCO Cisco Systems Aggressive PushPairCorr
  0.74BAC Bank of America Sell-off TrendPairCorr
  0.75WMT WalmartPairCorr
  0.69JPM JPMorgan ChasePairCorr
  0.73MSFT Microsoft Aggressive PushPairCorr

Moving against SPDR Etf

  0.65NRGU Bank Of MontrealPairCorr
  0.65PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr
  0.51JNJ Johnson Johnson Earnings Call This WeekPairCorr
  0.45KO Coca Cola Aggressive PushPairCorr
  0.33MRK 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   
SHE
+ 0.94
DSI
CRBN
+ 0.93
DSI
ESGE
+ 0.93
ESGD
SHE
+ 0.91
CRBN
CRBN
+ 0.18
ESGD
ESGE
+ 0.07
CRBN
  
High negative correlations   
ESGE
- 0.18
DSI
ESGE
- 0.11
SHE
ESGD
- 0.1
DSI

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.

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