SPDR SP Correlations

XTL Etf

USD 178.73 0.36 0.20%

The current 90-days correlation between SPDR SP Telecom and Series Portfolios Trust is 0.82 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR SP moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR SP Telecom moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR SP Correlation With Market

Almost no diversification

The correlation between SPDR SP Telecom and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Telecom 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 Telecom. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with SPDR Etf

0.93	IYZ	IShares Telecommunicatio	Pair Corr
0.73	USD	ProShares Ultra Semi	Pair Corr
0.81	JNUG	Direxion Daily Junior	Pair Corr
0.73	GDXU	MicroSectors Gold Miners	Pair Corr
0.83	NUGT	Direxion Daily Gold	Pair Corr
0.86	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.85	JANW	AIM ETF Products	Pair Corr
0.84	IBBQ	Invesco Nasdaq Biote	Pair Corr
0.9	XTWO	Bondbloxx ETF Trust	Pair Corr
0.95	FPXE	First Trust IPOX	Pair Corr
0.95	CCNR	CoreCommodity Natural	Pair Corr
0.82	VBK	Vanguard Small Cap	Pair Corr
0.9	QLV	FlexShares Quality Low	Pair Corr
0.96	FIDU	Fidelity MSCI Industrials	Pair Corr
0.96	EDGI	Advisors Inner	Pair Corr
0.74	TSPX	Twin Oak Active	Pair Corr
0.85	WDNA	WisdomTree BioRevolution	Pair Corr
0.94	ESML	iShares ESG Aware	Pair Corr
0.78	HCOW	Amplify Cash Flow	Pair Corr
0.87	LSEQ	Harbor ETF Trust	Pair Corr
0.93	UDI	USCF ETF Trust	Pair Corr
0.95	SPVM	Invesco SP 500	Pair Corr
0.84	CTEX	ProShares SP Kensho	Pair Corr
0.62	LITP	Sprott Lithium Miners	Pair Corr
0.89	XFIX	Fm Investments Symbol Change	Pair Corr

Moving against SPDR Etf

0.76	ESPO	VanEck Video Gaming	Pair Corr
0.73	GAMR	Amplify Video Game	Pair Corr
0.6	HERO	Global X Video	Pair Corr

Related Correlations Analysis

	XPH	XTN	XHE	XES	SHDG	AUGW	MSTB	TJUL	XMAR	ADPV
XPH		0.84	0.44	0.61	0.8	0.82	0.57	0.81	0.84	0.81	XPH
XTN	0.84		0.2	0.86	0.8	0.87	0.57	0.86	0.94	0.87	XTN
XHE	0.44	0.2		-0.18	0.48	0.31	0.3	0.39	0.22	0.42	XHE
XES	0.61	0.86	-0.18		0.6	0.7	0.42	0.69	0.81	0.7	XES
SHDG	0.8	0.8	0.48	0.6		0.9	0.76	0.96	0.86	0.92	SHDG
AUGW	0.82	0.87	0.31	0.7	0.9		0.84	0.94	0.97	0.89	AUGW
MSTB	0.57	0.57	0.3	0.42	0.76	0.84		0.76	0.72	0.72	MSTB
TJUL	0.81	0.86	0.39	0.69	0.96	0.94	0.76		0.93	0.92	TJUL
XMAR	0.84	0.94	0.22	0.81	0.86	0.97	0.72	0.93		0.89	XMAR
ADPV	0.81	0.87	0.42	0.7	0.92	0.89	0.72	0.92	0.89		ADPV
	XPH	XTN	XHE	XES	SHDG	AUGW	MSTB	TJUL	XMAR	ADPV

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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

XMAR	+ 0.97	AUGW
TJUL	+ 0.96	SHDG
XMAR	+ 0.94	XTN
TJUL	+ 0.94	AUGW
XMAR	+ 0.93	TJUL
ADPV	+ 0.92	SHDG

High negative correlations

XES

- 0.18

XHE

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
XPH	1.09	0.14	0.09	0.34	0.92	(1.26)	2.74	(2.01)	6.30
XTN	1.30	0.23	0.21	0.21	1.01	(1.54)	2.81	(1.74)	8.26
XHE	0.99	0.01	0.02	0.08	0.95	(1.31)	2.41	(1.80)	7.88
XES	1.54	0.43	0.24	0.40	1.42	(1.75)	3.70	(2.69)	9.80
SHDG	0.43	(0.01)	(0.06)	0.05	0.59	(0.42)	0.79	(1.11)	2.80
AUGW	0.19	0.02	(0.18)	(1.36)	0.19	(0.20)	0.47	(0.43)	1.43
MSTB	0.47	0.00	(0.11)	(0.01)	0.64	(0.53)	0.87	(1.09)	3.08
TJUL	0.13	0.00	(0.30)	0.07	0.11	(0.15)	0.27	(0.27)	0.95
XMAR	0.09	0.02	(0.40)	(3.56)	0.00	(0.10)	0.20	(0.18)	0.61
ADPV	1.22	0.05	0.05	0.10	1.59	(1.24)	2.23	(2.43)	7.48

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