SSgA SPDR Correlations

JNKS Etf

31.10 0.04 0.13%

The current 90-days correlation between SSgA SPDR ETFs and Leverage Shares 3x is 0.26 (i.e., Modest 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. If the correlation is 0, the equities are not correlated; they are entirely random.

SSgA SPDR Correlation With Market

Average diversification

The correlation between SSgA SPDR ETFs and DJI is 0.18 (i.e., Average 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 together with SSgA Etf

0.79	NVD2	Leverage Shares 2x	Pair Corr
0.8	3NVD	Leverage Shares 3x	Pair Corr
0.79	NVD3	Leverage Shares 3x	Pair Corr
0.8	3LVP	GraniteShares 3x Long	Pair Corr
0.79	3LNV	GraniteShares 3x Long	Pair Corr
0.69	3BAL	WisdomTree EURO STOXX	Pair Corr
0.77	GS2	Leverage Shares 2x	Pair Corr
0.75	2JPM	Leverage Shares 2x	Pair Corr
0.86	MCHS	Invesco MSCI China	Pair Corr
0.75	SMTC	Multi Units Luxembourg	Pair Corr
0.78	AASU	Amundi Index Solutions	Pair Corr
0.87	SEML	iShares JP Morgan	Pair Corr
0.76	JPCT	JPM Carbon Transition	Pair Corr
0.67	EHYB	Invesco Euro Corporate	Pair Corr
0.79	ESIN	iShares MSCI Europe	Pair Corr
0.64	XMAF	Xtrackers MSCI Africa	Pair Corr
0.63	REUG	VanEck Circular Economy	Pair Corr
0.77	YIEL	Amundi EUR High	Pair Corr
0.76	CB5	Multi Units Luxembourg	Pair Corr
0.72	FSEM	Fidelity Sustainable USD	Pair Corr
0.76	HSAX	HSBC APAC EX	Pair Corr
0.79	SASU	iShares MSCI USA	Pair Corr
0.82	PAVE	Global X Infrastructure	Pair Corr
0.68	NATO	HANetf ICAV	Pair Corr
0.73	JCAG	JPM BetaBuilders China	Pair Corr
0.79	AMD3	Leverage Shares 3x	Pair Corr
0.69	AUGA	UBS ETF plc	Pair Corr
0.77	PSRU	PowerShares FTSE RAFI	Pair Corr
0.68	WATC	Amundi MSCI Water	Pair Corr
0.76	DFNG	VanEck Defense ETF	Pair Corr
0.78	3PLT	Leverage Shares 3x	Pair Corr
0.76	FLQA	Franklin FTSE Asia	Pair Corr
0.76	LALU	WisdomTree Aluminium	Pair Corr

Related Correlations Analysis

	3PLT	PAL3	TSM3	QQQ5	5QQE	5QQQ	3LNE	3NFL	NFL3	3NFE
3PLT		1.0	0.84	0.85	0.86	0.86	0.7	0.73	0.71	0.71	3PLT
PAL3	1.0		0.85	0.85	0.86	0.86	0.71	0.73	0.72	0.72	PAL3
TSM3	0.84	0.85		0.97	0.96	0.97	0.84	0.84	0.84	0.81	TSM3
QQQ5	0.85	0.85	0.97		1.0	1.0	0.88	0.87	0.87	0.86	QQQ5
5QQE	0.86	0.86	0.96	1.0		1.0	0.88	0.87	0.87	0.86	5QQE
5QQQ	0.86	0.86	0.97	1.0	1.0		0.87	0.86	0.86	0.85	5QQQ
3LNE	0.7	0.71	0.84	0.88	0.88	0.87		0.95	0.95	0.95	3LNE
3NFL	0.73	0.73	0.84	0.87	0.87	0.86	0.95		1.0	0.99	3NFL
NFL3	0.71	0.72	0.84	0.87	0.87	0.86	0.95	1.0		1.0	NFL3
3NFE	0.71	0.72	0.81	0.86	0.86	0.85	0.95	0.99	1.0		3NFE
	3PLT	PAL3	TSM3	QQQ5	5QQE	5QQQ	3LNE	3NFL	NFL3	3NFE

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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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
3PLT	6.35	1.93	0.19	4.20	8.24	(6.86)	15.74	(12.30)	56.11
PAL3	6.20	1.95	0.19	5.71	8.00	(6.95)	16.75	(12.52)	54.64
TSM3	4.82	1.64	0.40	0.88	3.58	(5.86)	13.45	(7.93)	23.89
QQQ5	3.94	1.16	0.29	0.71	3.30	(5.21)	11.83	(6.42)	23.21
5QQE	4.00	1.13	0.29	0.68	3.32	(5.24)	10.71	(7.00)	25.55
5QQQ	3.92	1.13	0.31	0.68	3.32	(4.78)	10.90	(6.92)	24.77
3LNE	3.98	0.89	0.21	0.59	4.08	(4.56)	8.13	(7.26)	36.20
3NFL	4.00	1.07	0.16	(1.10)	4.37	(4.60)	8.50	(7.32)	38.97
NFL3	3.96	1.16	0.17	(0.77)	4.21	(4.47)	8.56	(6.90)	40.73
3NFE	3.79	1.08	0.17	(0.75)	4.03	(4.33)	7.87	(6.67)	40.08

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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