SPDR SP Correlations

XSW Etf

USD 150.55 3.25 2.11%

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

Excellent diversification

The correlation between SPDR SP Software and DJI is -0.54 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Software 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 Software. 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

0.7	VGT	Vanguard Information	Pair Corr
0.65	XLK	Technology Select Sector	Pair Corr
0.8	IYW	iShares Technology ETF	Pair Corr
0.96	CIBR	First Trust NASDAQ	Pair Corr
0.69	FTEC	Fidelity MSCI Information	Pair Corr
0.99	IGV	iShares Expanded Tech	Pair Corr
0.97	FDN	First Trust Dow	Pair Corr
0.8	IGM	iShares Expanded Tech	Pair Corr
0.69	MPAY	Exchange Traded Concepts	Pair Corr

Moving against SPDR Etf

0.88	BSMS	Invesco BulletShares 2028	Pair Corr
0.73	SOXX	iShares Semiconductor ETF	Pair Corr
0.71	AMPD	Tidal ETF Services	Pair Corr
0.7	SMH	VanEck Semiconductor ETF	Pair Corr
0.59	CPST	Calamos ETF Trust	Pair Corr
0.56	ELON	Battleshares TSLA	Pair Corr
0.53	ITWO	Proshares Russell 2000	Pair Corr
0.44	UAUG	Innovator Equity Ultra	Pair Corr
0.93	NDIV	Amplify ETF Trust	Pair Corr
0.89	SPDV	AAM SP 500	Pair Corr
0.88	DXJ	WisdomTree Japan Hedged	Pair Corr
0.88	TAXT	Northern Trust Tax	Pair Corr
0.87	PID	Invesco International	Pair Corr
0.85	DFIC	Dimensional International	Pair Corr
0.83	UEVM	VictoryShares Emerging	Pair Corr
0.8	LALT	Invesco Multi Strategy	Pair Corr
0.8	FNK	First Trust Mid	Pair Corr
0.76	KNGZ	First Trust Exchange	Pair Corr
0.76	FNDA	Schwab Fundamental Small	Pair Corr
0.7	AUMI	Themes Gold Miners	Pair Corr
0.68	ETHO	Amplify Etho Climate	Pair Corr
0.66	PSMR	Pacer Swan SOS	Pair Corr
0.61	NAPR	Innovator Nasdaq 100	Pair Corr
0.45	IDRV	iShares Self Driving	Pair Corr
0.93	ERET	iShares Environmentally	Pair Corr
0.93	EMIF	iShares Emerging Markets	Pair Corr
0.91	GCAL	Goldman Sachs ETF	Pair Corr
0.89	VYMI	Vanguard International	Pair Corr
0.88	DVYE	iShares Emerging Markets	Pair Corr
0.88	QLV	FlexShares Quality Low	Pair Corr

Related Correlations Analysis

	SPHB	XVV	DWX	QDEF	RSPA	CSM	FCTE	BALI	BKDV	IEO
SPHB		0.52	0.67	0.8	0.87	0.69	0.82	0.88	0.88	0.49	SPHB
XVV	0.52		-0.11	0.23	0.15	0.94	0.23	0.52	0.2	-0.26	XVV
DWX	0.67	-0.11		0.91	0.93	0.11	0.83	0.77	0.89	0.9	DWX
QDEF	0.8	0.23	0.91		0.93	0.39	0.86	0.89	0.92	0.81	QDEF
RSPA	0.87	0.15	0.93	0.93		0.36	0.91	0.88	0.98	0.78	RSPA
CSM	0.69	0.94	0.11	0.39	0.36		0.37	0.65	0.41	-0.14	CSM
FCTE	0.82	0.23	0.83	0.86	0.91	0.37		0.9	0.93	0.71	FCTE
BALI	0.88	0.52	0.77	0.89	0.88	0.65	0.9		0.9	0.59	BALI
BKDV	0.88	0.2	0.89	0.92	0.98	0.41	0.93	0.9		0.74	BKDV
IEO	0.49	-0.26	0.9	0.81	0.78	-0.14	0.71	0.59	0.74		IEO
	SPHB	XVV	DWX	QDEF	RSPA	CSM	FCTE	BALI	BKDV	IEO

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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

BKDV	+ 0.98	RSPA
CSM	+ 0.94	XVV
RSPA	+ 0.93	DWX
RSPA	+ 0.93	QDEF
BKDV	+ 0.93	FCTE
BKDV	+ 0.92	QDEF

High negative correlations

IEO	- 0.26	XVV
IEO	- 0.14	CSM
DWX	- 0.11	XVV

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
SPHB	1.06	0.10	0.10	0.15	1.21	(1.12)	2.03	(2.33)	7.26
XVV	0.55	(0.02)	(0.05)	0.05	0.72	(0.53)	0.90	(1.11)	3.92
DWX	0.37	0.18	0.24	0.81	0.00	(0.45)	1.10	(0.72)	2.19
QDEF	0.41	0.03	0.01	0.13	0.47	(0.45)	0.98	(0.70)	3.80
RSPA	0.40	0.07	0.07	0.21	0.26	(0.45)	0.99	(0.86)	2.50
CSM	0.55	(0.01)	(0.04)	0.07	0.67	(0.58)	1.10	(1.21)	3.76
FCTE	0.75	0.07	0.05	0.17	0.88	(0.76)	1.73	(1.66)	4.49
BALI	0.43	0.04	0.00	0.15	0.42	(0.49)	0.87	(0.81)	2.78
BKDV	0.58	0.10	0.13	0.19	0.45	(0.71)	1.61	(1.06)	3.71
IEO	1.27	0.25	0.13	0.79	1.22	(1.36)	2.95	(1.98)	6.27

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