SPDR SP Correlations

XRT Etf

USD 87.26 0.85 0.96%

The current 90-days correlation between SPDR SP Retail and iShares ESG Screened is 0.02 (i.e., Significant 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

Very poor diversification

The correlation between SPDR SP Retail and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Retail 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 Retail. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with SPDR Etf

0.81	XLY	Consumer Discretionary	Pair Corr
0.84	VCR	Vanguard Consumer	Pair Corr
0.65	ITB	iShares Home Construction Low Volatility	Pair Corr
0.84	FDIS	Fidelity MSCI Consumer	Pair Corr
0.75	XHB	SPDR SP Homebuilders Sell-off Trend	Pair Corr
0.85	IYC	iShares Consumer Dis	Pair Corr
0.9	PEJ	Invesco Dynamic Leisure	Pair Corr
0.94	FXD	First Trust Consumer	Pair Corr
0.64	MUU	Direxion Daily MU	Pair Corr
0.64	MULL	GraniteShares 2x Long	Pair Corr
0.74	AGQ	ProShares Ultra Silver	Pair Corr
0.83	JNUG	Direxion Daily Junior	Pair Corr
0.79	GDXU	MicroSectors Gold Miners	Pair Corr
0.81	NUGT	Direxion Daily Gold	Pair Corr
0.67	SHNY	Microsectors Gold	Pair Corr
0.85	SIL	Global X Silver	Pair Corr
0.8	SIVR	abrdn Physical Silver	Pair Corr
0.85	DDLS	WisdomTree Dynamic	Pair Corr
0.83	BBEU	JPMorgan BetaBuilders	Pair Corr
0.89	AHYB	American Century ETF	Pair Corr
0.82	YLD	Principal Active High	Pair Corr
0.81	IBMR	iShares Trust	Pair Corr
0.89	MART	Allianzim Large Cap	Pair Corr
0.8	DBJP	Xtrackers MSCI Japan	Pair Corr
0.86	EDEN	iShares MSCI Denmark	Pair Corr
0.87	VBK	Vanguard Small Cap	Pair Corr
0.91	GAPR	First Trust Exchange	Pair Corr
0.72	IAUM	iShares Gold Trust	Pair Corr
0.9	SPMD	SPDR Russell Small	Pair Corr
0.76	ABI	VictoryShares Pioneer	Pair Corr
0.94	OASC	OneAscent Small Cap	Pair Corr
0.82	GSIG	Goldman Sachs Access	Pair Corr
0.83	BINC	BlackRock ETF Trust	Pair Corr

Moving against SPDR Etf

0.8

RCD

Ready Capital

Pair Corr

Related Correlations Analysis

	IDLV	RSPF	ENFR	FXD	NUEM	EWN	TBFC	RSSB	DGRS	XJH
IDLV		0.73	0.84	0.78	0.8	0.85	0.93	0.81	0.89	0.89	IDLV
RSPF	0.73		0.38	0.9	0.49	0.59	0.7	0.73	0.7	0.81	RSPF
ENFR	0.84	0.38		0.5	0.72	0.75	0.78	0.64	0.77	0.7	ENFR
FXD	0.78	0.9	0.5		0.61	0.73	0.81	0.74	0.86	0.94	FXD
NUEM	0.8	0.49	0.72	0.61		0.97	0.93	0.79	0.8	0.8	NUEM
EWN	0.85	0.59	0.75	0.73	0.97		0.97	0.84	0.88	0.88	EWN
TBFC	0.93	0.7	0.78	0.81	0.93	0.97		0.88	0.92	0.94	TBFC
RSSB	0.81	0.73	0.64	0.74	0.79	0.84	0.88		0.79	0.81	RSSB
DGRS	0.89	0.7	0.77	0.86	0.8	0.88	0.92	0.79		0.96	DGRS
XJH	0.89	0.81	0.7	0.94	0.8	0.88	0.94	0.81	0.96		XJH
	IDLV	RSPF	ENFR	FXD	NUEM	EWN	TBFC	RSSB	DGRS	XJH

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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
IDLV	0.43	0.10	0.14	0.32	0.29	(0.49)	0.85	(0.84)	2.69
RSPF	0.67	0.05	0.01	0.37	0.78	(0.74)	1.46	(1.31)	4.56
ENFR	0.72	0.20	0.17	2.72	0.57	(0.78)	1.61	(1.30)	4.06
FXD	0.90	0.05	0.06	0.09	0.90	(1.02)	2.04	(1.65)	5.66
NUEM	0.59	0.04	0.02	0.14	0.65	(0.63)	1.42	(1.05)	4.50
EWN	0.89	0.04	0.03	0.09	1.07	(0.90)	1.65	(1.52)	4.87
TBFC	0.26	0.02	(0.04)	0.11	0.27	(0.26)	0.57	(0.54)	1.53
RSSB	0.71	0.02	(0.02)	0.21	1.01	(0.66)	1.25	(1.36)	5.85
DGRS	0.81	0.14	0.17	0.17	0.63	(1.04)	2.54	(1.42)	5.12
XJH	0.73	0.08	0.09	0.13	0.73	(0.79)	1.95	(1.58)	3.90

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