SPDR SP Correlations

Etfs . USA . 
Etf . SPDR SP Retail
XRT Etf  USD 81.05  2.13  2.70%   
The current 90-days correlation between SPDR SP Retail and SPDR SP Metals is 0.58 (i.e., Very weak 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

Poor diversification

The correlation between SPDR SP Retail and DJI is 0.66 (i.e., 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.
  
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 metropolitan statistical area.

Moving together with SPDR Etf

  0.75XLY Consumer DiscretionaryPairCorr
  0.78VCR Vanguard ConsumerPairCorr
  0.78FDIS Fidelity MSCI ConsumerPairCorr
  0.78IYC iShares Consumer DisPairCorr
  0.8PEJ Invesco Dynamic LeisurePairCorr
  0.91FXD First Trust ConsumerPairCorr
  0.77RCD Invesco SP 500PairCorr
  0.68NVDL GraniteShares 15x Long Downward RallyPairCorr
  0.68NVDX T Rex 2X Downward RallyPairCorr
  0.75CONL GraniteShares ETF TrustPairCorr
  0.68NVDU Direxion Daily NVDA Downward RallyPairCorr
  0.73BITX Volatility Shares Trust Low VolatilityPairCorr
  0.76CRPT First Trust SkyBridgePairCorr
  0.75DAPP VanEck Digital TransPairCorr
  0.77WGMI Valkyrie Bitcoin MinersPairCorr
  0.74BITQ Bitwise Crypto IndustryPairCorr
  0.74BTC Grayscale Bitcoin MiniPairCorr
  0.69JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.75INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.78AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.75CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.72CSCO Cisco Systems Aggressive PushPairCorr
  0.62CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr

Moving against SPDR Etf

  0.56PFE Pfizer Inc Aggressive PushPairCorr
  0.56KO Coca Cola Aggressive PushPairCorr
  0.4BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.35PG Procter GamblePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY