SPDR FactSet Correlations

XITK Etf

USD 149.15 0.39 0.26%

The current 90-days correlation between SPDR FactSet Innovative and Fidelity Disruptive Communications is 0.78 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR FactSet moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR FactSet Innovative moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR FactSet Correlation With Market

Very good diversification

The correlation between SPDR FactSet Innovative and DJI is -0.35 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR FactSet Innovative 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 FactSet Innovative. 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

0.68	VGT	Vanguard Information	Pair Corr
0.66	XLK	Technology Select Sector	Pair Corr
0.78	IYW	iShares Technology ETF	Pair Corr
0.87	CIBR	First Trust NASDAQ	Pair Corr
0.67	FTEC	Fidelity MSCI Information	Pair Corr
0.95	IGV	iShares Expanded Tech	Pair Corr
0.95	FDN	First Trust Dow	Pair Corr
0.75	IGM	iShares Expanded Tech	Pair Corr

Moving against SPDR Etf

0.73	AMPD	Tidal ETF Services	Pair Corr
0.56	SOXX	iShares Semiconductor ETF	Pair Corr
0.56	ELON	Battleshares TSLA	Pair Corr
0.46	SMH	VanEck Semiconductor ETF	Pair Corr
0.45	CPST	Calamos ETF Trust	Pair Corr
0.92	DOGG	First Trust Exchange	Pair Corr
0.76	TERG	Leverage Shares 2X	Pair Corr
0.7	STXE	EA Series Trust	Pair Corr
0.7	XFIX	Fm Investments Symbol Change	Pair Corr
0.69	BSMS	Invesco BulletShares 2028	Pair Corr
0.69	FNDC	Schwab Fundamental	Pair Corr
0.67	CCNR	CoreCommodity Natural	Pair Corr
0.59	IAUM	iShares Gold Trust	Pair Corr
0.57	EURL	Direxion Daily FTSE	Pair Corr
0.55	IRTR	iShares Trust	Pair Corr
0.5	FPXE	First Trust IPOX	Pair Corr
0.48	PFFA	Virtus InfraCap Preferred	Pair Corr
0.47	FXC	Invesco CurrencyShares	Pair Corr
0.46	IQSZ	Invesco Actively Managed	Pair Corr
0.95	WEBS	Direxion Daily Dow	Pair Corr
0.77	UDI	USCF ETF Trust	Pair Corr
0.75	SCDV	ETF Series Solutions	Pair Corr
0.74	LVHI	Franklin International	Pair Corr
0.7	NCPB	Nuveen Core Plus	Pair Corr
0.69	TAXT	Northern Trust Tax	Pair Corr
0.62	EWT	iShares MSCI Taiwan	Pair Corr
0.61	SPVM	Invesco SP 500	Pair Corr

Related Correlations Analysis

	PSMR	XAIX	DTEC	FEUS	DVOL	FITE	EEMX	JULT	EMC	FDCF
PSMR		0.66	-0.25	0.61	0.9	0.79	0.87	0.96	0.87	0.21	PSMR
XAIX	0.66		0.4	0.8	0.41	0.71	0.46	0.8	0.5	0.79	XAIX
DTEC	-0.25	0.4		0.36	-0.46	-0.03	-0.53	-0.05	-0.5	0.83	DTEC
FEUS	0.61	0.8	0.36		0.38	0.59	0.27	0.73	0.31	0.7	FEUS
DVOL	0.9	0.41	-0.46	0.38		0.62	0.89	0.84	0.89	-0.09	DVOL
FITE	0.79	0.71	-0.03	0.59	0.62		0.75	0.79	0.74	0.37	FITE
EEMX	0.87	0.46	-0.53	0.27	0.89	0.75		0.78	0.99	-0.1	EEMX
JULT	0.96	0.8	-0.05	0.73	0.84	0.79	0.78		0.8	0.41	JULT
EMC	0.87	0.5	-0.5	0.31	0.89	0.74	0.99	0.8		-0.05	EMC
FDCF	0.21	0.79	0.83	0.7	-0.09	0.37	-0.1	0.41	-0.05		FDCF
	PSMR	XAIX	DTEC	FEUS	DVOL	FITE	EEMX	JULT	EMC	FDCF

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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

EMC	+ 0.99	EEMX
JULT	+ 0.96	PSMR
DVOL	+ 0.9	PSMR
EEMX	+ 0.89	DVOL
EMC	+ 0.89	DVOL
EEMX	+ 0.87	PSMR

High negative correlations

EEMX	- 0.53	DTEC
EMC	- 0.5	DTEC
DVOL	- 0.46	DTEC
DTEC	- 0.25	PSMR
FDCF	- 0.1	EEMX
FDCF	- 0.09	DVOL

SPDR FactSet Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR FactSet 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 FactSet'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
PSMR	0.13	0.01	(0.24)	0.20	0.00	(0.16)	0.34	(0.27)	0.94
XAIX	0.90	(0.06)	(0.05)	0.00	1.29	(0.82)	1.49	(2.01)	4.68
DTEC	0.88	(0.18)	0.00	(0.08)	0.00	0.00	1.54	(2.08)	5.78
FEUS	0.53	0.01	(0.08)	(0.04)	0.77	(0.51)	1.13	(1.20)	3.83
DVOL	0.59	0.04	0.03	0.12	0.60	(0.64)	1.26	(0.97)	3.76
FITE	1.40	0.14	0.04	1.40	1.62	(1.44)	2.50	(2.45)	7.11
EEMX	0.74	0.16	0.17	0.30	0.55	(0.82)	2.00	(1.26)	4.63
JULT	0.29	0.01	(0.07)	0.08	0.33	(0.29)	0.55	(0.71)	2.16
EMC	0.80	0.13	0.12	0.23	0.75	(0.91)	2.08	(1.64)	5.41
FDCF	0.86	(0.08)	0.00	(0.03)	0.00	0.00	1.73	(2.47)	5.16

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