SPDR SP Correlations
| XSD Etf | USD 264.39 0.00 0.00% |
The current 90-days correlation between SPDR SP Semiconductor and Invesco Dynamic Semiconductors is 0.91 (i.e., Almost no 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.
SPDR SP Correlation With Market
Weak diversification
The correlation between SPDR SP Semiconductor and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Semiconductor and DJI in the same portfolio, assuming nothing else is changed.
SPDR |
Moving together with SPDR Etf
| 0.79 | VGT | Vanguard Information | PairCorr |
| 0.72 | XLK | Technology Select Sector | PairCorr |
| 0.77 | IYW | iShares Technology ETF | PairCorr |
| 0.79 | CIBR | First Trust NASDAQ | PairCorr |
| 0.79 | FTEC | Fidelity MSCI Information | PairCorr |
| 0.69 | FDN | First Trust Dow | PairCorr |
| 0.8 | IGM | iShares Expanded Tech | PairCorr |
| 0.64 | LUX | Tema ETF Trust | PairCorr |
| 0.7 | MSFT | Microsoft Earnings Call Next Week | PairCorr |
| 0.61 | CSCO | Cisco Systems Aggressive Push | PairCorr |
| 0.7 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
Moving against SPDR Etf
| 0.73 | FNGD | MicroSectors FANG Index | PairCorr |
| 0.32 | GE | GE Aerospace Earnings Call Tomorrow | PairCorr |
| 0.57 | INTC | Intel Earnings Call This Week | PairCorr |
| 0.56 | JNJ | Johnson Johnson Earnings Call This Week | PairCorr |
| 0.49 | HPQ | HP Inc | PairCorr |
| 0.42 | DD | Dupont De Nemours Fiscal Year End 4th of February 2025 | PairCorr |
Related Correlations Analysis
| 0.38 | 0.44 | -0.53 | 0.36 | PSI | ||
| 0.38 | -0.45 | 0.29 | -0.39 | SOXX | ||
| 0.44 | -0.45 | -0.39 | 0.91 | XSW | ||
| -0.53 | 0.29 | -0.39 | -0.22 | XPH | ||
| 0.36 | -0.39 | 0.91 | -0.22 | XRT | ||
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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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PSI | 1.58 | 0.08 | 0.04 | 0.17 | 2.01 | 2.83 | 7.27 | |||
| SOXX | 1.45 | (0.06) | 0.00 | (0.13) | 0.00 | 2.79 | 6.61 | |||
| XSW | 1.25 | 0.20 | 0.13 | 0.48 | 1.26 | 2.86 | 10.70 | |||
| XPH | 0.89 | (0.07) | 0.00 | (0.22) | 0.00 | 1.80 | 4.88 | |||
| XRT | 0.85 | 0.04 | 0.03 | 0.14 | 0.87 | 1.67 | 6.61 |