SPDR MarketAxess Correlations

LQIG Etf

USD 94.83 0.41 0.43%

The current 90-days correlation between SPDR MarketAxess Inv and Janus Henderson Sustainable is -0.11 (i.e., Good diversification). The correlation of SPDR MarketAxess 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 MarketAxess Correlation With Market

Good diversification

The correlation between SPDR MarketAxess Investment and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR MarketAxess Investment and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in SPDR MarketAxess Investment. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with SPDR Etf

1.0	LQD	iShares iBoxx Investment	Pair Corr
0.94	IGIB	iShares 5 10	Pair Corr
0.94	USIG	iShares Broad USD	Pair Corr
0.97	SPIB	SPDR Barclays Interm	Pair Corr
0.94	SUSC	iShares ESG USD	Pair Corr
0.93	QLTA	iShares Aaa	Pair Corr
0.99	CORP	PIMCO Investment Grade	Pair Corr
0.94	FLCO	Franklin Liberty Inv	Pair Corr
0.94	GIGB	Goldman Sachs Access	Pair Corr
1.0	VTC	Vanguard Total Corporate	Pair Corr
0.81	USD	ProShares Ultra Semi Downward Rally	Pair Corr
0.82	TECL	Direxion Daily Technology	Pair Corr
0.81	ROM	ProShares Ultra Tech	Pair Corr
0.78	QLD	ProShares Ultra QQQ	Pair Corr
0.81	SMH	VanEck Semiconductor ETF	Pair Corr
0.82	SOXX	iShares Semiconductor ETF	Pair Corr
0.8	SPXL	Direxion Daily SP500 Sell-off Trend	Pair Corr
0.8	UPRO	ProShares UltraPro SP500 Sell-off Trend	Pair Corr
0.97	EUSB	iShares Trust	Pair Corr
0.7	GE	GE Aerospace	Pair Corr
0.66	INTC	Intel Earnings Call Tomorrow	Pair Corr
0.83	JPM	JPMorgan Chase	Pair Corr
0.7	AA	Alcoa Corp	Pair Corr
0.81	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.8	IBM	International Business Earnings Call Today	Pair Corr
0.79	CVX	Chevron Corp	Pair Corr
0.7	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.8	CAT	Caterpillar	Pair Corr

Moving against SPDR Etf

0.77	MCD	McDonalds	Pair Corr
0.54	PG	Procter Gamble Earnings Call This Week	Pair Corr
0.42	KO	Coca Cola	Pair Corr
0.31	VZ	Verizon Communications Aggressive Push	Pair Corr

Related Correlations Analysis

	SSPX	JMBS	MSTSX	ABHYX	LBHIX	SCAXF	VIASP	RRTLX	OSHDF	JRBEX
SSPX		0.58	0.98	0.43	0.98	0.0	0.98	0.98	0.0	0.99	SSPX
JMBS	0.58		0.59	0.22	0.66	0.0	0.56	0.62	0.0	0.64	JMBS
MSTSX	0.98	0.59		0.38	0.98	0.0	0.98	1.0	0.0	0.98	MSTSX
ABHYX	0.43	0.22	0.38		0.36	0.0	0.37	0.39	0.0	0.35	ABHYX
LBHIX	0.98	0.66	0.98	0.36		0.0	0.97	0.98	0.0	0.99	LBHIX
SCAXF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	-1.0	0.0	SCAXF
VIASP	0.98	0.56	0.98	0.37	0.97	0.0		0.98	0.0	0.98	VIASP
RRTLX	0.98	0.62	1.0	0.39	0.98	0.0	0.98		0.0	0.99	RRTLX
OSHDF	0.0	0.0	0.0	0.0	0.0	-1.0	0.0	0.0		0.0	OSHDF
JRBEX	0.99	0.64	0.98	0.35	0.99	0.0	0.98	0.99	0.0		JRBEX
	SSPX	JMBS	MSTSX	ABHYX	LBHIX	SCAXF	VIASP	RRTLX	OSHDF	JRBEX

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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

RRTLX	+ 1.0	MSTSX
JRBEX	+ 0.99	SSPX
JRBEX	+ 0.99	LBHIX
JRBEX	+ 0.99	RRTLX
MSTSX	+ 0.98	SSPX
LBHIX	+ 0.98	SSPX

High negative correlations

OSHDF	- 1.0	SCAXF
JRBEX	- 0.0	OSHDF
OSHDF	- 0.0	RRTLX
OSHDF	- 0.0	VIASP
JRBEX	- 0.0	SCAXF
RRTLX	- 0.0	SCAXF

SPDR MarketAxess Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR MarketAxess 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 MarketAxess' 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
SSPX	0.66	0.09	0.08	0.27	0.40	(0.78)	2.24	(0.84)	4.01
JMBS	0.28	0.00	(0.40)	0.15	0.32	(0.27)	0.55	(0.54)	1.51
MSTSX	0.49	0.20	0.02	(1.99)	0.33	(0.58)	1.45	(1.17)	3.51
ABHYX	0.19	0.00	(0.56)	0.30	0.23	(0.26)	0.36	(0.36)	1.54
LBHIX	0.18	0.04	(0.32)	0.41	0.00	(0.33)	0.49	(0.24)	1.22
SCAXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VIASP	0.44	0.16	0.03	1.43	0.00	(0.57)	1.01	(0.76)	4.38
RRTLX	0.23	0.09	(0.20)	(2.23)	0.00	(0.30)	0.73	(0.39)	1.74
OSHDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JRBEX	0.34	0.07	(0.03)	0.32	0.00	(0.40)	1.16	(0.71)	2.43

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