SPDR FactSet Correlations

XITK Etf

USD 167.78 6.38 3.66%

The current 90-days correlation between SPDR FactSet Innovative and Fidelity Disruptive Communications is 0.74 (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

Average diversification

The correlation between SPDR FactSet Innovative and DJI is 0.14 (i.e., Average 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

0.77	VGT	Vanguard Information	Pair Corr
0.69	XLK	Technology Select Sector Aggressive Push	Pair Corr
0.75	IYW	iShares Technology ETF	Pair Corr
0.76	CIBR	First Trust NASDAQ	Pair Corr
0.62	FTEC	Fidelity MSCI Information	Pair Corr
0.76	IGV	iShares Expanded Tech	Pair Corr
0.76	FDN	First Trust Dow	Pair Corr
0.67	IGM	iShares Expanded Tech	Pair Corr
0.66	MSFT	Microsoft	Pair Corr

Moving against SPDR Etf

0.41	SHNY	Microsectors Gold Trending	Pair Corr
0.4	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.37	GDXU	MicroSectors Gold Miners	Pair Corr
0.37	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.37	NUGT	Direxion Daily Gold	Pair Corr
0.35	JNUG	Direxion Daily Junior	Pair Corr
0.31	SLVR	Sprott Silver Miners	Pair Corr
0.65	KO	Coca Cola Aggressive Push	Pair Corr
0.56	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.51	VZ	Verizon Communications Earnings Call Today	Pair Corr
0.51	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.43	DD	Dupont De Nemours Sell-off Trend	Pair Corr
0.41	MRK	Merck Company Earnings Call This Week	Pair Corr
0.39	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	PSMR	XAIX	DTEC	FEUS	DVOL	FITE	EEMX	JULT	EMC	FDCF
PSMR		0.52	-0.13	0.81	0.88	0.75	0.75	0.97	0.63	0.42	PSMR
XAIX	0.52		0.61	0.74	0.51	0.75	0.7	0.67	0.75	0.94	XAIX
DTEC	-0.13	0.61		0.28	0.04	0.25	0.07	0.04	0.29	0.73	DTEC
FEUS	0.81	0.74	0.28		0.69	0.62	0.53	0.91	0.49	0.73	FEUS
DVOL	0.88	0.51	0.04	0.69		0.77	0.75	0.87	0.69	0.38	DVOL
FITE	0.75	0.75	0.25	0.62	0.77		0.93	0.8	0.91	0.62	FITE
EEMX	0.75	0.7	0.07	0.53	0.75	0.93		0.77	0.94	0.52	EEMX
JULT	0.97	0.67	0.04	0.91	0.87	0.8	0.77		0.68	0.59	JULT
EMC	0.63	0.75	0.29	0.49	0.69	0.91	0.94	0.68		0.61	EMC
FDCF	0.42	0.94	0.73	0.73	0.38	0.62	0.52	0.59	0.61		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

JULT	+ 0.97	PSMR
FDCF	+ 0.94	XAIX
EMC	+ 0.94	EEMX
EEMX	+ 0.93	FITE
JULT	+ 0.91	FEUS
EMC	+ 0.91	FITE

High negative correlations

DTEC

- 0.13

PSMR

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	(0.17)	0.15	0.00	(0.15)	0.34	(0.27)	0.89
XAIX	0.88	(0.02)	(0.02)	0.03	1.33	(0.78)	1.53	(2.38)	5.03
DTEC	0.79	(0.12)	0.00	(0.85)	0.00	0.00	1.44	(2.04)	4.79
FEUS	0.54	(0.02)	(0.04)	0.03	0.74	(0.52)	1.28	(1.19)	3.83
DVOL	0.52	0.03	(0.03)	0.32	0.65	(0.54)	1.04	(0.97)	3.76
FITE	1.23	0.01	0.01	0.06	1.48	(1.24)	2.30	(2.42)	5.87
EEMX	0.68	0.12	0.13	0.23	0.53	(0.78)	1.63	(1.14)	3.44
JULT	0.27	0.01	(0.05)	0.07	0.34	(0.27)	0.55	(0.70)	2.16
EMC	0.74	0.11	0.07	0.57	0.81	(0.79)	1.66	(1.42)	5.41
FDCF	0.80	(0.06)	0.00	(0.02)	0.00	0.00	1.59	(2.09)	4.74

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