SPDR SP Correlations

ZPDF Etf

EUR 51.54 0.50 0.98%

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

Good diversification

The correlation between SPDR SP Financials and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Financials and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SPDR SP could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SPDR SP when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back SPDR SP - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling SPDR SP Financials to buy it.

Moving together with SPDR Etf

0.65	DSOL	WisdomTree Solana EUR	Pair Corr
0.65	VS0L	VanEck Solana ETN	Pair Corr

Moving against SPDR Etf

0.4	ETLX	LG Gold Mining	Pair Corr
0.4	UBUD	UBS ETF Public	Pair Corr
0.38	ETLX	LG Gold Mining	Pair Corr
0.37	IS0E	iShares Gold Producers	Pair Corr
0.37	G2X	VanEck Gold Miners	Pair Corr
0.33	G2XJ	VanEck Junior Gold	Pair Corr
0.32	G2XJ	VanEck Junior Gold	Pair Corr
0.74	DBXK	Xtrackers II Eurozone	Pair Corr
0.7	X03F	db x trackers	Pair Corr
0.63	EXV7	iShares STOXX Europe	Pair Corr
0.61	IS3B	iShares VI Public	Pair Corr
0.53	DBX8	Xtrackers MSCI	Pair Corr
0.52	IUS4	iShares III Public	Pair Corr
0.44	D6RD	Deka Future Energy	Pair Corr
0.43	QVMP	PowerShares Global Funds	Pair Corr
0.35	EHLT	Multi Units Luxembourg	Pair Corr
0.77	LYQ7	Multi Units Luxembourg	Pair Corr
0.74	EAH	Lyxor Euro Government	Pair Corr
0.72	EUN8	iShares III Public	Pair Corr
0.64	QDVF	iShares SP 500	Pair Corr

Related Correlations Analysis

	SYBN	ZPR6	ZPDU	ZPR6	SPP3	ZPDT	ZPDM	SYBI	SYB1
SYBN		-0.72	0.02	-0.35	0.59	0.76	-0.68	0.0	0.0	SYBN
ZPR6	-0.72		0.39	0.68	-0.31	-0.72	0.85	0.0	0.0	ZPR6
ZPDU	0.02	0.39		0.15	0.53	-0.28	0.3	0.0	0.0	ZPDU
ZPR6	-0.35	0.68	0.15		-0.26	-0.34	0.62	0.0	0.0	ZPR6
SPP3	0.59	-0.31	0.53	-0.26		0.34	-0.34	0.0	0.0	SPP3
ZPDT	0.76	-0.72	-0.28	-0.34	0.34		-0.73	0.0	0.0	ZPDT
ZPDM	-0.68	0.85	0.3	0.62	-0.34	-0.73		0.0	0.0	ZPDM
SYBI	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	SYBI
SYB1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		SYB1
	SYBN	ZPR6	ZPDU	ZPR6	SPP3	ZPDT	ZPDM	SYBI	SYB1

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

ZPDM	+ 0.85	ZPR6
ZPDT	+ 0.76	SYBN
ZPR6	+ 0.68	ZPR6
ZPDM	+ 0.62	ZPR6
SPP3	+ 0.59	SYBN
SPP3	+ 0.53	ZPDU

High negative correlations

ZPDM	- 0.73	ZPDT
ZPDT	- 0.72	ZPR6
ZPR6	- 0.72	SYBN
ZPDM	- 0.68	SYBN
ZPR6	- 0.35	SYBN
ZPDM	- 0.34	SPP3

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
SYBN	0.48	(0.05)	0.00	11.21	0.00	0.00	0.97	(1.19)	3.87
ZPR6	0.07	0.01	(1.16)	(0.28)	0.00	(0.09)	0.20	(0.13)	0.43
ZPDU	0.71	0.08	(0.05)	(0.54)	0.81	(0.72)	1.65	(1.46)	4.34
ZPR6	0.10	0.00	(0.81)	0.25	0.03	(0.12)	0.23	(0.20)	0.75
SPP3	0.25	(0.01)	0.00	0.27	0.00	0.00	0.47	(0.59)	1.35
ZPDT	1.04	(0.08)	0.00	(2.40)	0.00	0.00	2.08	(2.24)	5.69
ZPDM	0.80	0.24	0.17	0.65	0.67	(0.91)	1.97	(1.48)	4.37
SYBI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SYB1	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in SPDR SP without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Portfolio Analyzer Now

Portfolio Analyzer

Portfolio analysis module that provides access to portfolio diagnostics and optimization engine

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC