SPDR SSGA Correlations

XLSR Etf

USD 61.13 0.44 0.72%

The current 90-days correlation between SPDR SSGA Sector and ALPS ETF Trust is 0.58 (i.e., Very weak diversification). The correlation of SPDR SSGA 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 SSGA Correlation With Market

Good diversification

The correlation between SPDR SSGA Sector and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SSGA Sector 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 SSGA Sector. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with SPDR Etf

0.68	VV	Vanguard Large Cap	Pair Corr
0.71	ESGU	iShares ESG Aware	Pair Corr
0.73	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.89	TECL	Direxion Daily Technology	Pair Corr
0.9	ROM	ProShares Ultra Tech	Pair Corr
0.94	QLD	ProShares Ultra QQQ	Pair Corr
0.8	UPRO	ProShares UltraPro SP500	Pair Corr
0.79	SPXL	Direxion Daily SP500	Pair Corr

Moving against SPDR Etf

0.51	RSP	Invesco SP 500	Pair Corr
0.5	SPLG	SSgA Symbol Change	Pair Corr
0.36	SOXX	iShares Semiconductor ETF	Pair Corr
0.34	VIG	Vanguard Dividend	Pair Corr
0.67	ERET	iShares Environmentally	Pair Corr
0.62	DXJ	WisdomTree Japan Hedged	Pair Corr
0.59	BSMS	Invesco BulletShares 2028	Pair Corr
0.58	FNDA	Schwab Fundamental Small	Pair Corr
0.58	EMIF	iShares Emerging Markets	Pair Corr
0.57	VYMI	Vanguard International	Pair Corr
0.54	DISV	Dimensional ETF Trust	Pair Corr
0.52	DWM	WisdomTree International	Pair Corr
0.49	KNGZ	First Trust Exchange	Pair Corr
0.49	VLU	SPDR SP 1500	Pair Corr
0.48	PSI	Invesco Dynamic Semi	Pair Corr
0.36	QTAP	Innovator Growth 100	Pair Corr
0.33	NAPR	Innovator Nasdaq 100	Pair Corr
0.62	GCAL	Goldman Sachs ETF	Pair Corr
0.56	FIEE	FiEE Inc Symbol Change	Pair Corr
0.54	CCNR	CoreCommodity Natural	Pair Corr
0.54	JEPI	JPMorgan Equity Premium	Pair Corr

Related Correlations Analysis

	PCEF	PFEB	BUYW	PAPR	HF	DUSA	DFAW	PSI	PNQI	OUSA
PCEF		0.91	0.88	0.92	0.93	0.85	0.93	0.95	-0.77	0.85	PCEF
PFEB	0.91		0.95	0.95	0.93	0.91	0.89	0.87	-0.62	0.87	PFEB
BUYW	0.88	0.95		0.95	0.89	0.88	0.87	0.83	-0.62	0.87	BUYW
PAPR	0.92	0.95	0.95		0.92	0.87	0.94	0.91	-0.75	0.89	PAPR
HF	0.93	0.93	0.89	0.92		0.82	0.9	0.9	-0.65	0.83	HF
DUSA	0.85	0.91	0.88	0.87	0.82		0.86	0.83	-0.69	0.92	DUSA
DFAW	0.93	0.89	0.87	0.94	0.9	0.86		0.94	-0.84	0.89	DFAW
PSI	0.95	0.87	0.83	0.91	0.9	0.83	0.94		-0.85	0.84	PSI
PNQI	-0.77	-0.62	-0.62	-0.75	-0.65	-0.69	-0.84	-0.85		-0.77	PNQI
OUSA	0.85	0.87	0.87	0.89	0.83	0.92	0.89	0.84	-0.77		OUSA
	PCEF	PFEB	BUYW	PAPR	HF	DUSA	DFAW	PSI	PNQI	OUSA

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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

PSI	+ 0.95	PCEF
BUYW	+ 0.95	PFEB
PAPR	+ 0.95	PFEB
PAPR	+ 0.95	BUYW
DFAW	+ 0.94	PAPR
PSI	+ 0.94	DFAW

High negative correlations

PNQI	- 0.85	PSI
PNQI	- 0.84	DFAW
OUSA	- 0.77	PNQI
PNQI	- 0.77	PCEF
PNQI	- 0.75	PAPR
PNQI	- 0.69	DUSA

SPDR SSGA Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR SSGA 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 SSGA'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
PCEF	0.33	0.01	(0.02)	0.06	0.37	(0.37)	0.70	(0.70)	1.98
PFEB	0.20	0.01	(0.03)	0.08	0.22	(0.21)	0.42	(0.54)	1.81
BUYW	0.24	0.01	(0.05)	0.07	0.25	(0.27)	0.50	(0.42)	1.56
PAPR	0.10	0.02	(0.11)	0.16	0.00	(0.12)	0.23	(0.18)	0.74
HF	0.21	0.01	(0.04)	0.07	0.28	(0.21)	0.38	(0.47)	1.73
DUSA	0.60	0.05	0.05	0.09	0.78	(0.61)	1.14	(1.03)	4.12
DFAW	0.49	0.10	0.08	(0.48)	0.58	(0.50)	0.89	(1.39)	3.55
PSI	1.81	0.33	0.16	0.22	1.96	(2.03)	4.11	(3.89)	12.10
PNQI	0.80	(0.20)	0.00	(0.23)	0.00	0.00	1.38	(2.37)	5.31
OUSA	0.42	0.02	0.01	0.07	0.45	(0.43)	0.88	(0.66)	2.42

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