SPDR SP Correlations

XTN Etf

USD 88.57 1.36 1.56%

The current 90-days correlation between SPDR SP Transportation and First Trust Indxx is 0.44 (i.e., Very weak 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 Transportation moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR SP Correlation With Market

Modest diversification

The correlation between SPDR SP Transportation and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Transportation and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in SPDR SP Transportation. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with SPDR Etf

0.85	XLI	Industrial Select Sector Sell-off Trend	Pair Corr
0.63	DRVN	Driven Brands Holdings Earnings Call This Week	Pair Corr
0.89	VIS	Vanguard Industrials	Pair Corr
0.92	FXR	First Trust Industri	Pair Corr
0.62	PPA	Invesco Aerospace Defense	Pair Corr
0.78	IYJ	iShares Industrials ETF	Pair Corr
0.86	IYT	iShares Transportation	Pair Corr
0.89	FIDU	Fidelity MSCI Industrials	Pair Corr
0.65	CRPT	First Trust SkyBridge	Pair Corr
0.75	XOM	Exxon Mobil Corp	Pair Corr
0.69	AA	Alcoa Corp	Pair Corr
0.74	HD	Home Depot	Pair Corr
0.66	DD	Dupont De Nemours	Pair Corr
0.7	HPQ	HP Inc	Pair Corr
0.76	TRV	The Travelers Companies	Pair Corr

Moving against SPDR Etf

0.71	WTID	UBS ETRACS	Pair Corr
0.35	TSLL	Direxion Shares ETF Sell-off Trend	Pair Corr
0.35	TSLR	GraniteShares 175x Long Sell-off Trend	Pair Corr
0.31	WMT	Walmart Earnings Call This Week	Pair Corr

Related Correlations Analysis

	MISL	DUSL	NATO	NFRA	EUAD	FIDU	CGW	FOWF	EXI
MISL		0.82	0.69	0.57	0.18	0.81	0.48	0.55	0.67	MISL
DUSL	0.82		0.74	0.9	0.23	0.99	0.8	0.73	0.9	DUSL
NATO	0.69	0.74		0.67	0.75	0.77	0.42	0.86	0.88	NATO
NFRA	0.57	0.9	0.67		0.26	0.9	0.88	0.7	0.89	NFRA
EUAD	0.18	0.23	0.75	0.26		0.28	-0.08	0.66	0.56	EUAD
FIDU	0.81	0.99	0.77	0.9	0.28		0.78	0.76	0.92	FIDU
CGW	0.48	0.8	0.42	0.88	-0.08	0.78		0.53	0.71	CGW
FOWF	0.55	0.73	0.86	0.7	0.66	0.76	0.53		0.88	FOWF
EXI	0.67	0.9	0.88	0.89	0.56	0.92	0.71	0.88		EXI
	MISL	DUSL	NATO	NFRA	EUAD	FIDU	CGW	FOWF	EXI

Click cells to compare fundamentals

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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

FIDU	+ 0.99	DUSL
EXI	+ 0.92	FIDU
NFRA	+ 0.9	DUSL
EXI	+ 0.9	DUSL
FIDU	+ 0.9	NFRA
EXI	+ 0.89	NFRA

High negative correlations

CGW

- 0.08

EUAD

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
MISL	0.91	(0.15)	0.00	(0.25)	0.00	0.00	1.42	(1.44)	6.59
DUSL	1.91	(0.18)	0.00	(0.11)	0.00	0.00	3.70	(3.59)	12.33
NATO	0.83	(0.02)	0.00	(0.03)	0.00	0.00	1.51	(1.61)	5.24
NFRA	0.54	(0.03)	0.00	(0.05)	0.00	0.00	0.95	(1.07)	3.18
EUAD	0.78	0.12	0.12	0.34	0.78	(0.90)	1.71	(1.56)	4.45
FIDU	0.66	(0.07)	0.00	(0.11)	0.00	0.00	1.28	(1.24)	4.54
CGW	0.65	(0.07)	0.00	(0.13)	0.00	0.00	1.17	(1.43)	4.81
FOWF	0.55	0.08	0.11	0.16	0.50	(0.60)	1.25	(1.10)	3.81
EXI	0.59	(0.02)	0.00	(0.03)	0.00	0.00	1.05	(1.33)	3.52

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