SPDR SP Correlations

GNR Etf

USD 54.93 0.17 0.31%

The current 90-days correlation between SPDR SP Global and FlexShares Morningstar Global is 0.95 (i.e., Almost no diversification). 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. If the correlation is 0, the equities are not correlated; they are entirely random.

SPDR SP Correlation With Market

Modest diversification

The correlation between SPDR SP Global and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Global and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in SPDR SP Global. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with SPDR Etf

0.95	XLB	Materials Select Sector	Pair Corr
0.95	VAW	Vanguard Materials Index	Pair Corr
0.94	XME	SPDR SP Metals	Pair Corr
0.91	PHO	Invesco Water Resources	Pair Corr
0.94	MOO	VanEck Agribusiness ETF	Pair Corr
0.97	FXZ	First Trust Materials	Pair Corr
0.92	FIW	First Trust Water	Pair Corr
0.92	URNM	Sprott Uranium Miners	Pair Corr
0.97	IYM	iShares Basic Materials	Pair Corr
0.83	BTCL	T Rex 2X	Pair Corr
0.83	BITU	ProShares Trust	Pair Corr
0.83	BTFX	Valkyrie Bitcoin Futures	Pair Corr
0.82	BITX	Volatility Shares Trust	Pair Corr
0.73	MSTY	YieldMax MSTR Option Downward Rally	Pair Corr
0.93	DFEN	Direxion Daily Aerospace	Pair Corr
0.87	NFLX	Netflix Downward Rally	Pair Corr
0.72	KGRN	KraneShares MSCI China	Pair Corr
0.73	KWEB	KraneShares CSI China Aggressive Push	Pair Corr
0.92	QTOC	Innovator ETFs Trust	Pair Corr
0.95	MYMF	SPDR SSGA My2026	Pair Corr
0.87	PFUT	Putnam Sustainable Future	Pair Corr
0.95	SRLN	SPDR Blackstone Senior	Pair Corr
0.72	EUSB	iShares Trust	Pair Corr
0.83	VBF	Invesco Van Kampen	Pair Corr
0.94	BUFD	FT Cboe Vest	Pair Corr
0.9	SPIB	SPDR Barclays Interm	Pair Corr
0.79	HIDE	Alpha Architect High	Pair Corr
0.91	VABS	Virtus Newfleet ABSMBS	Pair Corr
0.94	CGGO	Capital Group Global	Pair Corr

Moving against SPDR Etf

0.93	WTID	UBS ETRACS	Pair Corr
0.55	EV	NEOS Investment Mana	Pair Corr

Related Correlations Analysis

	GUNR	NANR	GLTR	GII	AOM
GUNR		0.99	0.83	0.9	0.95	GUNR
NANR	0.99		0.86	0.86	0.93	NANR
GLTR	0.83	0.86		0.72	0.73	GLTR
GII	0.9	0.86	0.72		0.94	GII
AOM	0.95	0.93	0.73	0.94		AOM
	GUNR	NANR	GLTR	GII	AOM

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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
GUNR	0.56	0.12	0.02	0.89	0.36	(0.66)	1.47	(0.77)	3.05
NANR	0.71	0.15	0.06	1.00	0.52	(0.81)	1.62	(1.08)	3.94
GLTR	1.00	0.23	0.01	(0.22)	0.98	(1.15)	2.35	(1.63)	5.02
GII	0.57	0.11	0.02	0.57	0.50	(0.67)	1.19	(1.18)	3.23
AOM	0.30	0.06	(0.06)	0.30	0.12	(0.32)	0.82	(0.72)	2.00

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