SPDR DoubleLine Correlations

TOTL Etf

USD 39.89 0.03 0.08%

The current 90-days correlation between SPDR DoubleLine Total and PIMCO Active Bond is 0.89 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR DoubleLine moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR DoubleLine Total moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR DoubleLine Correlation With Market

Good diversification

The correlation between SPDR DoubleLine Total and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR DoubleLine Total 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 DoubleLine Total. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with SPDR Etf

1.0	IUSB	iShares Core Total	Pair Corr
0.99	FIXD	First Trust TCW	Pair Corr
1.0	FBND	Fidelity Total Bond	Pair Corr
1.0	HTRB	Hartford Total Return	Pair Corr
1.0	GTO	Invesco Total Return	Pair Corr
0.99	EUSB	iShares Trust	Pair Corr
1.0	JCPB	JPMorgan Core Plus	Pair Corr
0.99	VBND	Vident Core Bond	Pair Corr
0.99	CGCP	Capital Group Core	Pair Corr
0.64	PG	Procter Gamble	Pair Corr
0.88	KO	Coca Cola Aggressive Push	Pair Corr
0.71	JNJ	Johnson Johnson Sell-off Trend	Pair Corr

Moving against SPDR Etf

0.88	RSPY	Tuttle Capital Management	Pair Corr
0.86	MEME	Roundhill Investments	Pair Corr
0.85	DSJA	DSJA	Pair Corr
0.62	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.5	T	ATT Inc Aggressive Push	Pair Corr
0.47	ITWO	Proshares Russell 2000 Low Volatility	Pair Corr
0.34	ITDD	iShares Trust	Pair Corr
0.87	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.84	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.81	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.76	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.76	HPQ	HP Inc	Pair Corr
0.68	WMT	Walmart Aggressive Push	Pair Corr
0.67	DIS	Walt Disney	Pair Corr
0.55	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.42	HD	Home Depot	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.29	0.57	-0.02	0.6	0.02	0.68	0.28	-0.56	0.72	META
MSFT	0.29		0.24	0.12	0.2	-0.02	0.02	-0.17	0.11	-0.18	MSFT
UBER	0.57	0.24		-0.02	0.02	0.26	0.05	-0.1	0.04	0.36	UBER
F	-0.02	0.12	-0.02		0.0	-0.37	0.36	0.62	-0.24	0.29	F
T	0.6	0.2	0.02	0.0		-0.48	0.73	0.49	-0.76	0.39	T
A	0.02	-0.02	0.26	-0.37	-0.48		-0.48	-0.65	0.64	-0.01	A
CRM	0.68	0.02	0.05	0.36	0.73	-0.48		0.83	-0.92	0.68	CRM
JPM	0.28	-0.17	-0.1	0.62	0.49	-0.65	0.83		-0.83	0.51	JPM
MRK	-0.56	0.11	0.04	-0.24	-0.76	0.64	-0.92	-0.83		-0.57	MRK
XOM	0.72	-0.18	0.36	0.29	0.39	-0.01	0.68	0.51	-0.57		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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	+ 0.83	CRM
CRM	+ 0.73	T
XOM	+ 0.72	META
CRM	+ 0.68	META
XOM	+ 0.68	CRM
MRK	+ 0.64	A

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.76	T
JPM	- 0.65	A
XOM	- 0.57	MRK
MRK	- 0.56	META

SPDR DoubleLine Competition Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR DoubleLine 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 DoubleLine'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
META	1.05	0.00	(0.03)	0.12	1.40	(1.14)	2.62	(3.15)	8.02
MSFT	0.88	(0.08)	(0.07)	0.01	1.51	(0.82)	2.09	(1.85)	8.19
UBER	1.60	(0.14)	0.00	(0.02)	0.00	0.00	2.69	(2.44)	20.10
F	1.43	(0.12)	(0.02)	0.04	2.19	(1.43)	2.75	(2.90)	11.72
T	0.92	0.28	0.14	24.43	0.85	(1.04)	2.56	(1.72)	6.47
A	1.14	(0.13)	0.00	(0.12)	0.00	0.00	2.29	(2.42)	9.02
CRM	1.28	0.29	0.25	0.37	0.90	(1.52)	3.18	(1.91)	9.09
JPM	1.12	0.00	0.06	0.12	1.44	(1.17)	2.05	(2.00)	15.87
MRK	0.85	(0.26)	0.00	(1.12)	0.00	0.00	1.73	(2.13)	4.89
XOM	1.03	0.03	(0.01)	0.18	1.21	(1.11)	2.14	(2.09)	5.78

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