SPDR SP Correlations

XRT Etf

USD 86.98 0.69 0.79%

The current 90-days correlation between SPDR SP Retail and iShares ESG Screened is -0.11 (i.e., Good 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 0.72 (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.

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 real.

Moving together with SPDR Etf

0.61	IYC	iShares Consumer Dis	Pair Corr
0.68	PEJ	Invesco Dynamic Leisure	Pair Corr
0.94	FXD	First Trust Consumer	Pair Corr
0.74	ITWO	Proshares Russell 2000	Pair Corr
0.67	CPST	Calamos ETF Trust	Pair Corr
0.71	UAUG	Innovator Equity Ultra	Pair Corr
0.65	QTAP	Innovator Growth 100	Pair Corr
0.64	FNX	First Trust Mid	Pair Corr
0.64	ETHO	Amplify Etho Climate	Pair Corr

Moving against SPDR Etf

0.6	RCD	Ready Capital	Pair Corr
0.51	MPAY	Exchange Traded Concepts	Pair Corr

Related Correlations Analysis

	IDLV	RSPF	ENFR	FXD	NUEM	EWN	TBFC	RSSB	DGRS	XJH
IDLV		-0.36	0.95	0.46	0.92	0.81	0.93	0.9	0.91	0.9	IDLV
RSPF	-0.36		-0.56	0.5	-0.24	-0.08	-0.21	-0.17	-0.25	-0.14	RSPF
ENFR	0.95	-0.56		0.29	0.87	0.75	0.87	0.81	0.87	0.82	ENFR
FXD	0.46	0.5	0.29		0.56	0.65	0.58	0.54	0.59	0.68	FXD
NUEM	0.92	-0.24	0.87	0.56		0.95	0.98	0.91	0.9	0.92	NUEM
EWN	0.81	-0.08	0.75	0.65	0.95		0.95	0.87	0.88	0.92	EWN
TBFC	0.93	-0.21	0.87	0.58	0.98	0.95		0.95	0.92	0.96	TBFC
RSSB	0.9	-0.17	0.81	0.54	0.91	0.87	0.95		0.84	0.9	RSSB
DGRS	0.91	-0.25	0.87	0.59	0.9	0.88	0.92	0.84		0.96	DGRS
XJH	0.9	-0.14	0.82	0.68	0.92	0.92	0.96	0.9	0.96		XJH
	IDLV	RSPF	ENFR	FXD	NUEM	EWN	TBFC	RSSB	DGRS	XJH

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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

TBFC	+ 0.98	NUEM
XJH	+ 0.96	TBFC
XJH	+ 0.96	DGRS
ENFR	+ 0.95	IDLV
EWN	+ 0.95	NUEM
TBFC	+ 0.95	EWN

High negative correlations

ENFR	- 0.56	RSPF
RSPF	- 0.36	IDLV
DGRS	- 0.25	RSPF
NUEM	- 0.24	RSPF
TBFC	- 0.21	RSPF
RSSB	- 0.17	RSPF

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	0.35	0.17	0.21	(1.90)	0.00	(0.42)	0.84	(0.74)	2.07
RSPF	0.81	0.02	(0.05)	(0.13)	1.03	(0.86)	1.50	(1.81)	5.45
ENFR	0.71	0.29	0.24	(1.39)	0.46	(0.85)	1.62	(1.25)	3.94
FXD	0.90	0.12	0.04	(0.55)	0.90	(1.01)	2.04	(1.49)	5.79
NUEM	0.65	0.20	0.15	(4.49)	0.53	(0.76)	1.62	(1.08)	4.50
EWN	0.90	0.12	0.10	0.20	0.97	(0.96)	2.01	(1.91)	5.25
TBFC	0.27	0.04	(0.01)	0.20	0.10	(0.29)	0.55	(0.49)	1.81
RSSB	0.65	0.05	0.02	0.14	0.84	(0.64)	1.25	(1.29)	5.85
DGRS	0.77	0.15	0.20	0.22	0.49	(0.99)	2.47	(1.28)	5.59
XJH	0.69	0.10	0.13	0.17	0.54	(0.77)	1.95	(1.29)	4.90

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