SPDR SP Correlations

GXC Etf

USD 93.75 0.62 0.67%

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

Modest diversification

The correlation between SPDR SP China 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 China 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 China. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with SPDR Etf

0.93	KWEB	KraneShares CSI China Aggressive Push	Pair Corr
0.98	FXI	iShares China Large	Pair Corr
0.88	EWT	iShares MSCI Taiwan	Pair Corr
0.96	ASHR	Xtrackers Harvest CSI Sell-off Trend	Pair Corr
0.87	CQQQ	Invesco China Technology	Pair Corr
0.99	CXSE	WisdomTree China	Pair Corr
0.89	EWH	iShares MSCI Hong	Pair Corr
0.95	KBA	KraneShares Bosera MSCI	Pair Corr
0.97	CNYA	iShares MSCI China Low Volatility	Pair Corr
0.79	SHLD	Global X Defense	Pair Corr
0.72	PRME	Prime Medicine, Common	Pair Corr
0.87	INFO	Harbor ETF Trust	Pair Corr
0.87	BUFF	Innovator Laddered	Pair Corr
0.85	XIDE	First Trust Exchange	Pair Corr
0.85	AIS	Tidal Trust III	Pair Corr
0.61	IG	Principal Exchange	Pair Corr
0.86	WINN	Harbor Long Term	Pair Corr

Moving against SPDR Etf

0.33

MCD

McDonalds

Pair Corr

Related Correlations Analysis

	PGJ	EWH	MCHI	FXI	GMF
PGJ		0.0	0.0	0.0	0.0	PGJ
EWH	0.0		0.88	0.92	0.97	EWH
MCHI	0.0	0.88		0.99	0.93	MCHI
FXI	0.0	0.92	0.99		0.95	FXI
GMF	0.0	0.97	0.93	0.95		GMF
	PGJ	EWH	MCHI	FXI	GMF

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

FXI	+ 0.99	MCHI
GMF	+ 0.97	EWH
GMF	+ 0.95	FXI
GMF	+ 0.93	MCHI
FXI	+ 0.92	EWH
MCHI	+ 0.88	EWH

High negative correlations

GMF	- 0.0	PGJ
FXI	- 0.0	PGJ
MCHI	- 0.0	PGJ
EWH	- 0.0	PGJ

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
PGJ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EWH	0.67	0.27	0.18	1.01	0.00	(0.80)	1.95	(1.07)	4.47
MCHI	0.90	0.16	0.02	0.74	0.73	(1.15)	2.03	(1.83)	5.88
FXI	0.95	0.15	0.01	0.70	0.75	(1.14)	1.98	(1.54)	5.58
GMF	0.56	0.13	0.02	0.53	0.36	(0.64)	1.22	(1.09)	4.66

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