SSgA SPDR Correlations

OTC Etfs . USA . 
Etf . SSgA SPDR ETFs
SSEUF Etf  USD 69.88  0.19  0.27%   
The current 90-days correlation between SSgA SPDR ETFs and Vanguard Total Stock is 0.64 (i.e., Poor diversification). The correlation of SSgA SPDR 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.

SSgA SPDR Correlation With Market

Poor diversification

The correlation between SSgA SPDR ETFs and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SSgA SPDR ETFs 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 SSgA SPDR ETFs. Also, note that the market value of any otc etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with SSgA OTC Etf

  0.93VTI Vanguard Total StockPairCorr
  0.91SPY SPDR SP 500 Aggressive PushPairCorr
  0.91IVV iShares Core SPPairCorr
  0.91VTV Vanguard Value IndexPairCorr
  0.9VUG Vanguard Growth IndexPairCorr
  0.94VO Vanguard Mid CapPairCorr
  0.98VB Vanguard Small CapPairCorr
  0.8DSJA DSJAPairCorr
  0.82RSPY Tuttle Capital ManagementPairCorr
  0.82MEME Roundhill InvestmentsPairCorr
  0.76ITDD iShares TrustPairCorr
  0.94AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.77TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.86CVX Chevron Corp Sell-off TrendPairCorr
  0.84WMT Walmart Aggressive PushPairCorr
  0.82DIS Walt Disney Sell-off TrendPairCorr
  0.86JPM JPMorgan Chase Sell-off TrendPairCorr
  0.8INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.71CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.69T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.82AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.87CSCO Cisco Systems Sell-off TrendPairCorr

Moving against SSgA OTC Etf

  0.62BND Vanguard Total BondPairCorr
  0.54VEA Vanguard FTSE DevelopedPairCorr
  0.72PFE Pfizer Inc Aggressive PushPairCorr
  0.55BA Boeing Fiscal Year End 29th of January 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   
JPM
+ 0.86
CRM
CRM
+ 0.81
T
XOM
+ 0.73
META
JPM
+ 0.7
F
XOM
+ 0.65
CRM
CRM
+ 0.64
META
  
High negative correlations   
MRK
- 0.91
CRM
MRK
- 0.83
JPM
MRK
- 0.79
T
JPM
- 0.6
A
XOM
- 0.56
MRK
MRK
- 0.53
META

SSgA SPDR Competition Risk-Adjusted Indicators

There is a big difference between SSgA OTC Etf performing well and SSgA SPDR OTC 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 SSgA SPDR'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.07  0.07  0.02  0.23  1.41 
(1.14)
 2.62 
(3.15)
 8.02 
MSFT  0.90 (0.04)(0.05) 0.07  1.50 
(0.86)
 2.09 
(1.85)
 8.19 
UBER  1.61 (0.11)(0.04) 0.02  2.32 
(1.70)
 2.69 
(2.53)
 20.10 
F  1.42 (0.15)(0.04) 0.03  2.23 
(1.39)
 2.53 
(2.90)
 11.21 
T  0.92  0.26  0.12 (7.83) 0.86 
(1.06)
 2.56 
(1.72)
 6.47 
A  1.17 (0.09) 0.00 (0.06) 0.00 
 0.00 
 2.71 
(2.42)
 9.02 
CRM  1.31  0.23  0.18  0.34  1.08 
(1.53)
 3.18 
(1.91)
 9.98 
JPM  1.12 (0.04) 0.05  0.11  1.38 
(1.23)
 2.05 
(2.00)
 15.87 
MRK  0.91 (0.24) 0.00 (0.86) 0.00 
 0.00 
 2.00 
(2.13)
 4.89 
XOM  1.00 (0.03)(0.07) 0.06  1.31 
(1.04)
 2.10 
(2.09)
 5.74 

Be your own money manager

Our tools can tell you how much better you can do entering a position in SSgA SPDR without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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