SPDR SP Correlations

XTL Etf

USD 184.02 6.13 3.45%

The current 90-days correlation between SPDR SP Telecom and Series Portfolios Trust is 0.2 (i.e., Modest 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

Very poor diversification

The correlation between SPDR SP Telecom and DJI is 0.83 (i.e., Very poor 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 population.

Moving together with SPDR Etf

0.92	IYZ	IShares Telecommunicatio Low Volatility	Pair Corr
0.82	INR	Infinity Natural Res	Pair Corr
0.62	VTI	Vanguard Total Stock	Pair Corr
0.76	BND	Vanguard Total Bond	Pair Corr
0.95	VTV	Vanguard Value Index	Pair Corr
0.95	IRTR	iShares Trust	Pair Corr
0.76	DOO	BRP Inc Symbol Change	Pair Corr
0.81	UCO	ProShares Ultra Bloomberg	Pair Corr
0.95	ETHO	Amplify Etho Climate	Pair Corr
0.74	LQIG	SPDR MarketAxess Inv	Pair Corr
0.94	IYM	iShares Basic Materials	Pair Corr
0.92	FNDA	Schwab Fundamental Small	Pair Corr
0.92	AHYB	American Century ETF	Pair Corr
0.93	FEM	First Trust Emerging	Pair Corr
0.93	MDY	SPDR SP MIDCAP	Pair Corr
0.95	YDEC	First Trust Exchange	Pair Corr
0.89	ENFR	Alerian Energy Infra	Pair Corr
0.89	HISF	First Trust High	Pair Corr
0.97	DWM	WisdomTree International	Pair Corr
0.73	GOCT	FT Cboe Vest	Pair Corr
0.85	MNZL	Manzil Russell Halal	Pair Corr
0.65	IEI	iShares 3 7	Pair Corr
0.84	FOPC	Advisors Inner	Pair Corr
0.82	IYR	iShares Real Estate	Pair Corr
0.91	EAFG	Pacer Funds Trust	Pair Corr
0.9	QTAP	Innovator Growth 100	Pair Corr

Moving against SPDR Etf

0.84	ESPO	VanEck Video Gaming	Pair Corr
0.81	GAMR	Amplify Video Game	Pair Corr
0.72	HERO	Global X Video	Pair Corr
0.57	SOCL	Global X Social Potential Growth	Pair Corr
0.65	VUG	Vanguard Growth Index	Pair Corr
0.57	ENTR	EntrepreneurShares	Pair Corr

Related Correlations Analysis

	XPH	XTN	XHE	XES	SHDG	AUGW	MSTB	TJUL	XMAR	ADPV
XPH		0.78	-0.07	0.65	0.66	0.77	0.51	0.71	0.8	0.73	XPH
XTN	0.78		-0.32	0.86	0.68	0.84	0.5	0.8	0.92	0.82	XTN
XHE	-0.07	-0.32		-0.52	0.07	-0.07	0.27	-0.06	-0.25	0.04	XHE
XES	0.65	0.86	-0.52		0.52	0.71	0.32	0.68	0.85	0.68	XES
SHDG	0.66	0.68	0.07	0.52		0.93	0.94	0.92	0.79	0.87	SHDG
AUGW	0.77	0.84	-0.07	0.71	0.93		0.81	0.97	0.95	0.91	AUGW
MSTB	0.51	0.5	0.27	0.32	0.94	0.81		0.83	0.61	0.77	MSTB
TJUL	0.71	0.8	-0.06	0.68	0.92	0.97	0.83		0.92	0.88	TJUL
XMAR	0.8	0.92	-0.25	0.85	0.79	0.95	0.61	0.92		0.86	XMAR
ADPV	0.73	0.82	0.04	0.68	0.87	0.91	0.77	0.88	0.86		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

TJUL	+ 0.97	AUGW
XMAR	+ 0.95	AUGW
MSTB	+ 0.94	SHDG
AUGW	+ 0.93	SHDG
XMAR	+ 0.92	XTN
TJUL	+ 0.92	SHDG

High negative correlations

XES	- 0.52	XHE
XHE	- 0.32	XTN
XMAR	- 0.25	XHE
AUGW	- 0.07	XHE
XHE	- 0.07	XPH
TJUL	- 0.06	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	1.05	0.10	0.06	0.25	0.92	(1.22)	2.74	(2.01)	6.30
XTN	1.29	0.21	0.19	0.21	1.10	(1.54)	2.81	(1.74)	8.26
XHE	0.93	(0.02)	(0.03)	0.06	0.97	(1.25)	2.34	(1.80)	5.90
XES	1.48	0.49	0.28	0.51	1.27	(1.72)	3.70	(2.45)	9.80
SHDG	0.43	0.00	(0.05)	0.08	0.55	(0.44)	0.79	(0.98)	2.80
AUGW	0.19	0.01	(0.18)	0.13	0.09	(0.21)	0.47	(0.43)	1.43
MSTB	0.48	(0.01)	(0.07)	0.06	0.58	(0.56)	0.87	(1.07)	3.08
TJUL	0.13	0.00	(0.33)	0.11	0.08	(0.14)	0.27	(0.27)	0.95
XMAR	0.07	0.02	(0.67)	0.33	0.00	(0.10)	0.18	(0.10)	0.61
ADPV	1.17	0.10	0.08	0.15	1.33	(1.25)	2.23	(2.33)	7.48

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