SPDR Kensho Correlations

XKFS Etf

USD 68.36 0.96 1.42%

The correlation of SPDR Kensho 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 Kensho Correlation With Market

Average diversification

The correlation between SPDR Kensho Future and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Kensho Future and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SPDR Etf

0.95	VGT	Vanguard Information	Pair Corr
0.9	XLK	Technology Select Sector Sell-off Trend	Pair Corr
0.94	IYW	iShares Technology ETF	Pair Corr
0.71	SMH	VanEck Semiconductor ETF	Pair Corr
0.96	CIBR	First Trust NASDAQ	Pair Corr
0.95	FTEC	Fidelity MSCI Information	Pair Corr
0.94	IGV	iShares Expanded Tech Sell-off Trend	Pair Corr
0.96	FDN	First Trust Dow	Pair Corr
0.95	IGM	iShares Expanded Tech	Pair Corr
0.83	DIG	ProShares Ultra Oil	Pair Corr
0.66	MLPR	ETRACS Quarterly Pay	Pair Corr
0.83	USD	ProShares Ultra Semi	Pair Corr
0.86	YCS	ProShares UltraShort Yen	Pair Corr
0.87	TBT	ProShares UltraShort Downward Rally	Pair Corr
0.89	ATMP	Barclays ETN Select	Pair Corr
0.76	AMZA	InfraCap MLP ETF	Pair Corr
0.91	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.89	BAC	Bank of America Aggressive Push	Pair Corr
0.74	HD	Home Depot	Pair Corr
0.82	WMT	Walmart Aggressive Push	Pair Corr
0.72	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.75	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.81	DIS	Walt Disney Aggressive Push	Pair Corr
0.64	T	ATT Inc Sell-off Trend	Pair Corr

Moving against SPDR Etf

0.77	KO	Coca Cola Aggressive Push	Pair Corr
0.59	NRGU	Bank Of Montreal	Pair Corr
0.82	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.71	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.64	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.33	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	FEU	ITE	XKII	XKST	SPMB
FEU		0.81	-0.5	0.04	0.78	FEU
ITE	0.81		-0.78	-0.25	0.99	ITE
XKII	-0.5	-0.78		0.7	-0.76	XKII
XKST	0.04	-0.25	0.7		-0.25	XKST
SPMB	0.78	0.99	-0.76	-0.25		SPMB
	FEU	ITE	XKII	XKST	SPMB

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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

SPMB	+ 0.99	ITE
ITE	+ 0.81	FEU
SPMB	+ 0.78	FEU
XKST	+ 0.7	XKII
XKST	+ 0.04	FEU

High negative correlations

XKII	- 0.78	ITE
SPMB	- 0.76	XKII
XKII	- 0.5	FEU
SPMB	- 0.25	XKST
XKST	- 0.25	ITE

SPDR Kensho Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Kensho 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 Kensho'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
FEU	0.65	(0.11)	0.00	2.09	0.00	0.00	1.54	(1.57)	4.17
ITE	0.19	(0.04)	0.00	(0.77)	0.00	0.00	0.39	(0.36)	1.29
XKII	0.93	0.12	0.01	0.91	1.26	(0.91)	1.90	(1.97)	7.03
XKST	1.34	0.11	(0.02)	(0.50)	1.65	(1.32)	2.81	(2.50)	7.94
SPMB	0.24	(0.05)	0.00	(0.36)	0.00	0.00	0.45	(0.59)	1.52

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