SSGA SPDR Correlations

Etfs . Germany . 
Etf . SSGA SPDR ETFs
ZPR5 Etf  EUR 22.94  0.01  0.04%   
The current 90-days correlation between SSGA SPDR ETFs and HSBC MSCI Emerging is 0.16 (i.e., Average diversification). The correlation of SSGA SPDR 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.

SSGA SPDR Correlation With Market

Excellent diversification

The correlation between SSGA SPDR ETFs and DJI is -0.57 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SSGA SPDR ETFs and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to SSGA SPDR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SSGA SPDR 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 SSGA SPDR - 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 SSGA SPDR ETFs to buy it.

Moving against SSGA Etf

  0.81ONK ONEOK IncPairCorr
  0.72IUS4 iShares III PublicPairCorr
  0.71IBCA iShares Euro GovernmentPairCorr
  0.71EGV3 MULTI UNITS LUXEMBOURGPairCorr
  0.7IQQA iShares Euro DividendPairCorr
  0.7IQQ5 iShares MSCI TurkeyPairCorr
  0.69IQQK iShares PublicPairCorr
  0.68CHSR UBSFund Solutions MSCIPairCorr
  0.67LYQ2 Multi Units LuxembourgPairCorr
  0.62IBC3 iShares Core MSCIPairCorr
  0.61QDVS iShares MSCI EMPairCorr
  0.6S7XE Invesco EURO STOXXPairCorr
  0.57EUNZ iShares Edge MSCIPairCorr
  0.57AMED Amundi Index SolutionsPairCorr
  0.57JE13 JPMorgan ETFs ICAVPairCorr
  0.56ETLX LG Gold MiningPairCorr
  0.54IS0E iShares Gold ProducersPairCorr
  0.53XDDX Xtrackers DAX IncomePairCorr
  0.51C099 Lyxor Bloomberg EqualPairCorr
  0.46CSYZ Credit Suisse IndexPairCorr
  0.46JRWA JPM All CountryPairCorr
  0.38YGLD IncomeShares Gold YieldPairCorr
  0.84ILT Illinois Tool WorksPairCorr
  0.78C1V0 C1V0 SplitPairCorr
  0.78SPYC SSgA SPDR ETFsPairCorr
  0.72SMLN Invesco JPX NikkeiPairCorr
  0.7DBX8 Xtrackers MSCIPairCorr
  0.65QDVI iShares IV PublicPairCorr
  0.62IS3N iShares Core MSCIPairCorr
  0.62EMNE iShares MSCI EMUPairCorr
  0.62IS3N iShares Core MSCIPairCorr
  0.62VWCG Vanguard Funds PublicPairCorr
  0.6EGV7 MULTI UNITS LUXEMBOURGPairCorr
  0.59UIMI UBS Fund SolutionsPairCorr
  0.57LYBK Lyxor UCITS StoxxPairCorr

Related Correlations Analysis


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

H410
+ 1.0
IQQE
H410
+ 1.0
IQQF
IQQF
+ 0.99
IQQE
DBX8
+ 0.98
IQQE
DBX8
+ 0.97
IQQF
H410
+ 0.97
DBX8
  

High negative correlations

EGV3
- 0.71
ZPR5
DBX8
- 0.7
ZPR5
ETSZ
- 0.64
ZPR5
IQQE
- 0.61
ZPR5
H410
- 0.59
ZPR5
IQQF
- 0.58
ZPR5

SSGA SPDR Constituents Risk-Adjusted Indicators

There is a big difference between SSGA Etf performing well and SSGA SPDR 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 SSGA SPDR'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ZPR5  0.28 (0.06) 0.00  3.17  0.00 
 0.00 
 0.42 
(0.67)
 2.60 
VGEA  0.12  0.00 (0.32) 0.15  0.11 
(0.14)
 0.29 
(0.29)
 0.63 
VZLC  3.28  0.73  0.12  0.68  5.37 
(3.47)
 6.36 
(4.24)
 32.10 
IQQE  0.72  0.13  0.12  0.46  0.55 
(0.90)
 1.68 
(1.27)
 4.27 
IQQF  0.82  0.15  0.13  0.38  0.62 
(0.96)
 2.00 
(1.45)
 5.98 
DBX8  1.60  0.60  0.45  1.43  0.75 
(2.12)
 4.67 
(2.00)
 9.14 
DBX9  0.66  0.00 (0.05) 0.06  0.74 
(0.75)
 1.16 
(1.16)
 3.38 
EGV3  0.04  0.00 (1.29)(0.39) 0.00 
(0.04)
 0.07 
(0.07)
 0.22 
ETSZ  0.52  0.12  0.09  0.85  0.51 
(0.57)
 1.26 
(1.24)
 2.83 
H410  0.72  0.13  0.12  0.41  0.55 
(0.92)
 1.66 
(1.21)
 4.27 

Be your own money manager

Our tools can tell you how much better you can do entering a position in SSGA SPDR 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.

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