SPDR DoubleLine Correlations

TOTL Etf

USD 40.75 0.09 0.22%

The current 90-days correlation between SPDR DoubleLine Total and SPDR Series Trust is 0.1 (i.e., Average 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

Very weak diversification

The correlation between SPDR DoubleLine Total and DJI is 0.56 (i.e., Very weak 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.

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 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 population.

Moving together with SPDR Etf

0.99	IUSB	iShares Core Total	Pair Corr
0.96	FIXD	First Trust TCW	Pair Corr
0.99	FBND	Fidelity Total Bond	Pair Corr
0.78	BNDS	Series Portfolios Trust	Pair Corr
0.98	HTRB	Hartford Total Return	Pair Corr
0.98	GTO	Invesco Total Return	Pair Corr
0.99	EUSB	iShares Trust	Pair Corr
0.99	JCPB	JPMorgan Core Plus	Pair Corr
0.62	JNUG	Direxion Daily Junior	Pair Corr
0.66	NUGT	Direxion Daily Gold	Pair Corr
0.7	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.88	KORU	Direxion Daily South	Pair Corr
0.71	DGP	DB Gold Double	Pair Corr
0.84	VYMI	Vanguard International	Pair Corr
0.99	BND	Vanguard Total Bond	Pair Corr
0.77	UEVM	VictoryShares Emerging	Pair Corr
0.9	IYR	iShares Real Estate	Pair Corr
0.81	EFA	iShares MSCI EAFE Sell-off Trend	Pair Corr
0.71	IAU	iShares Gold Trust Aggressive Push	Pair Corr
0.67	QTAP	Innovator Growth 100	Pair Corr
0.69	ITA	iShares Aerospace Defense	Pair Corr
0.82	ILOW	AB Active ETFs	Pair Corr
0.82	DFIV	Dimensional International Sell-off Trend	Pair Corr
0.8	STXV	EA Series Trust	Pair Corr
0.63	RSST	Return Stacked Stocks	Pair Corr
0.82	EMIF	iShares Emerging Markets	Pair Corr
0.77	USO	United States Oil	Pair Corr
0.82	VDC	Vanguard Consumer Staples	Pair Corr
0.82	ESGD	iShares ESG Aware	Pair Corr
0.85	SCDV	ETF Series Solutions	Pair Corr

Moving against SPDR Etf

0.67	DRSK	Aptus Defined Risk	Pair Corr
0.75	BULZ	MicroSectors Solactive	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.12	-0.14	0.13	0.12	-0.31	-0.04	0.23	0.08	0.21	META
MSFT	-0.12		0.84	-0.65	-0.86	0.8	0.93	0.33	-0.91	-0.94	MSFT
UBER	-0.14	0.84		-0.57	-0.77	0.85	0.75	0.19	-0.81	-0.83	UBER
F	0.13	-0.65	-0.57		0.41	-0.59	-0.51	-0.05	0.75	0.7	F
T	0.12	-0.86	-0.77	0.41		-0.65	-0.84	-0.29	0.75	0.76	T
A	-0.31	0.8	0.85	-0.59	-0.65		0.67	0.2	-0.75	-0.84	A
CRM	-0.04	0.93	0.75	-0.51	-0.84	0.67		0.53	-0.82	-0.9	CRM
JPM	0.23	0.33	0.19	-0.05	-0.29	0.2	0.53		-0.13	-0.32	JPM
MRK	0.08	-0.91	-0.81	0.75	0.75	-0.75	-0.82	-0.13		0.92	MRK
XOM	0.21	-0.94	-0.83	0.7	0.76	-0.84	-0.9	-0.32	0.92		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

CRM	+ 0.93	MSFT
XOM	+ 0.92	MRK
A	+ 0.85	UBER
UBER	+ 0.84	MSFT
A	+ 0.8	MSFT
XOM	+ 0.76	T

High negative correlations

XOM	- 0.94	MSFT
MRK	- 0.91	MSFT
XOM	- 0.9	CRM
T	- 0.86	MSFT
XOM	- 0.84	A
CRM	- 0.84	T

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	1.54	0.08	0.04	0.17	1.53	(1.74)	3.43	(2.81)	13.69
MSFT	1.33	(0.31)	0.00	(0.50)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.56	(0.19)	0.00	(0.30)	0.00	0.00	2.70	(3.82)	11.09
F	1.22	0.09	0.07	0.17	1.05	(1.50)	3.61	(2.22)	7.50
T	1.05	0.15	0.05	(0.64)	0.99	(1.22)	3.87	(1.76)	7.44
A	1.24	(0.41)	0.00	(0.32)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.80	(0.30)	0.00	(0.18)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.27	(0.11)	(0.03)	0.01	1.83	(1.30)	2.34	(3.11)	8.17
MRK	1.27	0.33	0.20	0.72	1.10	(1.42)	2.81	(2.06)	8.74
XOM	1.32	0.41	0.23	12.19	1.09	(1.57)	2.90	(2.44)	6.83

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