SPDR SP Correlations

WDIV Etf

USD 76.25 0.22 0.29%

The current 90-days correlation between SPDR SP Global and iShares Global Materials is 0.73 (i.e., Poor 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

Significant diversification

The correlation between SPDR SP Global and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Global and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in SPDR SP Global. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with SPDR Etf

0.97	GCOW	Pacer Global Cash	Pair Corr
0.66	PFIX	Simplify Interest Rate	Pair Corr
0.76	DGT	SPDR Global Dow	Pair Corr
0.82	DEW	WisdomTree Global High	Pair Corr
0.76	WLDR	Affinity World Leaders	Pair Corr
0.93	HERD	Pacer Cash Cows	Pair Corr
0.88	FPAG	Northern Lights	Pair Corr
0.96	DIVD	Altrius Global Dividend	Pair Corr
0.68	CPST	Calamos ETF Trust	Pair Corr
0.7	CPSL	Calamos Laddered	Pair Corr
0.92	CALI	iShares Short Term	Pair Corr
0.84	DDFO	Innovator Equity Dual Sell-off Trend	Pair Corr
0.73	PJFM	PGIM ETF Trust	Pair Corr
0.65	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.64	TRV	The Travelers Companies	Pair Corr
0.66	BAC	Bank of America	Pair Corr
0.71	AA	Alcoa Corp	Pair Corr

Moving against SPDR Etf

0.4	ASET	Northern Trust	Pair Corr
0.58	MSFT	Microsoft Sell-off Trend	Pair Corr
0.46	PG	Procter Gamble	Pair Corr
0.4	HD	Home Depot	Pair Corr

Related Correlations Analysis

	MXI	JXI	AVSD	DEXC	WOOD	RZV	THD	FLKR	RSPS	ISMD
MXI		-0.42	0.77	0.22	0.73	0.66	0.44	0.34	0.52	0.7	MXI
JXI	-0.42		-0.37	-0.15	-0.22	-0.36	-0.25	-0.2	-0.18	-0.4	JXI
AVSD	0.77	-0.37		0.65	0.73	0.75	0.73	0.45	0.43	0.77	AVSD
DEXC	0.22	-0.15	0.65		0.22	0.27	0.57	0.38	-0.09	0.2	DEXC
WOOD	0.73	-0.22	0.73	0.22		0.66	0.57	0.46	0.47	0.78	WOOD
RZV	0.66	-0.36	0.75	0.27	0.66		0.55	0.29	0.7	0.92	RZV
THD	0.44	-0.25	0.73	0.57	0.57	0.55		0.42	0.11	0.62	THD
FLKR	0.34	-0.2	0.45	0.38	0.46	0.29	0.42		-0.15	0.3	FLKR
RSPS	0.52	-0.18	0.43	-0.09	0.47	0.7	0.11	-0.15		0.69	RSPS
ISMD	0.7	-0.4	0.77	0.2	0.78	0.92	0.62	0.3	0.69		ISMD
	MXI	JXI	AVSD	DEXC	WOOD	RZV	THD	FLKR	RSPS	ISMD

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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

ISMD	+ 0.92	RZV
ISMD	+ 0.78	WOOD
AVSD	+ 0.77	MXI
ISMD	+ 0.77	AVSD
RZV	+ 0.75	AVSD
WOOD	+ 0.73	MXI

High negative correlations

JXI	- 0.42	MXI
ISMD	- 0.4	JXI
AVSD	- 0.37	JXI
RZV	- 0.36	JXI
THD	- 0.25	JXI
WOOD	- 0.22	JXI

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
MXI	0.83	0.11	0.05	0.94	0.90	(0.90)	1.61	(1.65)	4.28
JXI	0.47	(0.02)	(0.12)	0.00	0.57	(0.55)	0.98	(0.92)	3.34
AVSD	0.58	0.03	0.02	0.11	0.65	(0.58)	1.19	(1.23)	2.74
DEXC	0.67	0.12	0.06	0.80	0.79	(0.69)	1.80	(1.30)	4.60
WOOD	0.69	0.05	(0.02)	0.73	0.93	(0.68)	1.58	(1.35)	4.20
RZV	0.96	(0.06)	(0.03)	0.03	1.22	(1.01)	2.26	(1.87)	5.31
THD	0.87	0.03	(0.01)	0.13	1.00	(0.92)	1.85	(1.71)	5.25
FLKR	1.54	0.31	0.16	0.33	1.58	(1.64)	3.38	(2.36)	8.36
RSPS	0.56	(0.04)	0.00	(0.07)	0.00	0.00	1.47	(0.95)	4.38
ISMD	0.88	(0.06)	(0.04)	0.02	1.15	(0.92)	1.93	(1.80)	4.60

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