SPDR SP Correlations

SPDW Etf

USD 42.01 0.76 1.78%

The current 90-days correlation between SPDR SP World and SPDR Portfolio SP is 0.01 (i.e., Significant 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

Significant diversification

The correlation between SPDR SP World and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP World and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SPDR SP World. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in services.

Moving together with SPDR Etf

0.92	VEA	Vanguard FTSE Developed	Pair Corr
0.86	IEFA	iShares Core MSCI	Pair Corr
0.93	VEU	Vanguard FTSE All	Pair Corr
0.88	EFA	iShares MSCI EAFE	Pair Corr
0.92	IXUS	iShares Core MSCI	Pair Corr
0.87	IDEV	iShares Core MSCI	Pair Corr
0.88	ESGD	iShares ESG Aware	Pair Corr
0.86	JIRE	JP Morgan Exchange	Pair Corr
0.91	DFAX	Dimensional World	Pair Corr
0.75	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.96	ESGE	iShares ESG Aware	Pair Corr
0.92	QQQ	Invesco QQQ Trust	Pair Corr
0.88	IXSRF	IXSRF	Pair Corr
0.9	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.7	XHYT	BondBloxx ETF Trust	Pair Corr
0.94	VOO	Vanguard SP 500	Pair Corr
0.89	SCMB	Schwab Municipal Bond	Pair Corr
0.87	CEMB	iShares JP Morgan	Pair Corr
0.83	GLTR	abrdn Physical Precious	Pair Corr
0.73	SGDJ	Sprott Junior Gold	Pair Corr
0.74	WIA	Western AssetClaymore	Pair Corr
0.91	IYW	iShares Technology ETF	Pair Corr
0.89	PPI	Investment Managers	Pair Corr
0.93	HLAL	Wahed FTSE USA	Pair Corr
0.83	RFDA	RiverFront Dynamic	Pair Corr
0.81	XTWY	Bondbloxx ETF Trust	Pair Corr
0.84	TAXI	Northern Trust Inter	Pair Corr
0.91	FELG	Fidelity Covington Trust	Pair Corr
0.86	TAXT	Northern Trust Tax	Pair Corr
0.82	ILIT	iShares Lithium Miners	Pair Corr
0.77	JNK	SPDR Bloomberg High Sell-off Trend	Pair Corr
0.96	FEMR	Fidelity Covington Trust	Pair Corr
0.89	NVBU	AllianzIM Equity Buffer15	Pair Corr
0.65	PDBC	Invesco Optimum Yield	Pair Corr
0.81	SLV	iShares Silver Trust	Pair Corr
0.71	MCHI	iShares MSCI China	Pair Corr

Moving against SPDR Etf

0.45

VIXY

ProShares VIX Short Buyout Trend

Pair Corr

Related Correlations Analysis

	SPYV	VOE	VITNX	TQQQ	SPEM	XLE	XLY	XLC	VEUSX	MGK
SPYV		0.75	0.93	0.9	0.89	0.38	0.42	0.24	0.83	0.91	SPYV
VOE	0.75		0.65	0.55	0.62	0.45	0.53	0.4	0.57	0.53	VOE
VITNX	0.93	0.65		0.98	0.96	0.29	0.62	0.47	0.76	0.98	VITNX
TQQQ	0.9	0.55	0.98		0.94	0.2	0.59	0.41	0.75	0.99	TQQQ
SPEM	0.89	0.62	0.96	0.94		0.3	0.55	0.49	0.81	0.94	SPEM
XLE	0.38	0.45	0.29	0.2	0.3		0.18	0.17	0.17	0.26	XLE
XLY	0.42	0.53	0.62	0.59	0.55	0.18		0.79	0.23	0.54	XLY
XLC	0.24	0.4	0.47	0.41	0.49	0.17	0.79		0.15	0.36	XLC
VEUSX	0.83	0.57	0.76	0.75	0.81	0.17	0.23	0.15		0.75	VEUSX
MGK	0.91	0.53	0.98	0.99	0.94	0.26	0.54	0.36	0.75		MGK
	SPYV	VOE	VITNX	TQQQ	SPEM	XLE	XLY	XLC	VEUSX	MGK

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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
SPYV	0.46	0.00	(0.01)	0.03	0.57	(0.48)	0.91	(0.83)	3.64
VOE	0.51	(0.03)	(0.05)	0.00	0.68	(0.50)	1.12	(1.19)	3.95
VITNX	0.54	0.02	0.02	0.05	0.81	(0.51)	1.15	(1.16)	4.42
TQQQ	2.20	0.10	0.05	0.07	3.24	(2.12)	4.49	(5.61)	14.98
SPEM	0.60	0.04	0.04	0.09	0.75	(0.70)	1.25	(0.99)	5.21
XLE	0.87	0.08	0.05	0.22	1.12	(0.85)	1.70	(1.84)	4.93
XLY	0.90	(0.08)	0.00	(0.03)	0.00	0.00	1.94	(2.26)	5.79
XLC	0.63	(0.01)	(0.03)	0.02	0.73	(0.69)	1.41	(1.40)	3.52
VEUSX	0.58	0.00	(0.03)	0.07	0.73	(0.56)	1.14	(1.29)	2.95
MGK	0.76	0.04	0.04	0.08	1.02	(0.76)	1.54	(1.65)	4.84

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