SPDR SP Correlations

SXLY Etf

USD 74.08 0.28 0.38%

The current 90-days correlation between SPDR SP Consumer and VanEck Gold Miners is 0.21 (i.e., Modest diversification). 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

Poor diversification

The correlation between SPDR SP Consumer and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Consumer and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SPDR SP could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SPDR SP when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back SPDR SP - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling SPDR SP Consumer to buy it.

Moving together with SPDR Etf

0.66	IUKP	iShares UK Property	Pair Corr
0.76	XEOU	Xtrackers MSCI Europe	Pair Corr
0.68	EUN	iShares STOXX Europe	Pair Corr
0.76	USGBPA	UBS ETF plc	Pair Corr
0.81	CISB	iShares Smart City	Pair Corr
0.78	DRVE	Global X Autonomous	Pair Corr
0.8	EMUM	iShares MSCI EMU	Pair Corr
0.71	CSNKY	iShares VII PLC	Pair Corr
0.66	XMEX	Xtrackers MSCI Mexico	Pair Corr
0.7	STHC	PIMCO Short Term	Pair Corr
0.8	WRDUSW-USD	UBSETF MSCIWLD USDa	Pair Corr
0.77	HYLC	iShares Global High	Pair Corr
0.76	XESC	Xtrackers Euro Stoxx	Pair Corr
0.62	GDX	VanEck Gold Miners	Pair Corr
0.76	DMFC	iShares Edge MSCI	Pair Corr
0.7	XMCJ	Xtrackers MSCI Japan	Pair Corr
0.76	UKGBPA	UBSFund Solutions MSCI	Pair Corr
0.81	LYSP5	Lyxor SP 500	Pair Corr
0.79	FTAD	SPDR FTSE UK	Pair Corr
0.69	VAPU	Vanguard FTSE Developed	Pair Corr
0.72	STYC	PIMCO Short Term	Pair Corr
0.8	XDUE	Xtrackers MSCI EMU	Pair Corr
0.61	RGRT	Raiffeisen ETF Solid	Pair Corr
0.67	XLBS	Invesco Materials	Pair Corr
0.73	USMUFE	UBS ETF plc	Pair Corr

Related Correlations Analysis

	SXLY	STYC	CSNKY	XLBS	WRDUSW-USD	AWESGG	DRVE	DCUSAS	XMME	GDX
SXLY		0.72	0.71	0.67	0.8	0.42	0.78	0.56	0.63	0.62	SXLY
STYC	0.72		0.76	0.94	0.92	0.27	0.82	0.86	0.76	0.94	STYC
CSNKY	0.71	0.76		0.81	0.85	0.66	0.89	0.74	0.94	0.69	CSNKY
XLBS	0.67	0.94	0.81		0.9	0.36	0.82	0.92	0.84	0.93	XLBS
WRDUSW-USD	0.8	0.92	0.85	0.9		0.43	0.85	0.8	0.81	0.8	WRDUSW-USD
AWESGG	0.42	0.27	0.66	0.36	0.43		0.56	0.33	0.63	0.2	AWESGG
DRVE	0.78	0.82	0.89	0.82	0.85	0.56		0.77	0.9	0.78	DRVE
DCUSAS	0.56	0.86	0.74	0.92	0.8	0.33	0.77		0.8	0.89	DCUSAS
XMME	0.63	0.76	0.94	0.84	0.81	0.63	0.9	0.8		0.74	XMME
GDX	0.62	0.94	0.69	0.93	0.8	0.2	0.78	0.89	0.74		GDX
	SXLY	STYC	CSNKY	XLBS	WRDUSW-USD	AWESGG	DRVE	DCUSAS	XMME	GDX

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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
SXLY	0.75	0.00	(0.04)	0.06	0.96	(0.77)	1.39	(1.55)	5.44
STYC	0.11	0.01	(0.16)	1.18	0.00	(0.18)	0.31	(0.23)	1.36
CSNKY	1.05	0.11	0.05	1.24	1.18	(1.14)	2.10	(2.11)	6.36
XLBS	0.77	0.19	0.13	(4.35)	0.69	(0.90)	1.69	(1.50)	5.71
WRDUSW-USD	0.50	0.04	(0.03)	(0.35)	0.57	(0.52)	1.00	(0.94)	3.33
AWESGG	0.58	0.07	0.02	0.57	0.82	(0.57)	1.32	(1.48)	4.10
DRVE	0.98	0.04	0.01	0.12	1.25	(1.03)	2.27	(2.31)	7.10
DCUSAS	0.77	0.20	0.10	(0.64)	1.08	(0.83)	1.65	(1.20)	8.53
XMME	0.72	0.07	0.03	0.79	0.73	(0.81)	1.51	(1.39)	5.19
GDX	1.92	0.45	0.16	1.21	2.24	(2.13)	4.22	(3.55)	14.23

Be your own money manager

Our tools can tell you how much better you can do entering a position in SPDR SP 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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