SP Funds Correlations

Etfs . USA . 
Etf . SP Funds SP
SPUS Etf  USD 45.46  0.04  0.09%   
The current 90-days correlation between SP Funds SP and Wahed FTSE USA is 0.97 (i.e., Almost no diversification). The correlation of SP Funds 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.

SP Funds Correlation With Market

Very poor diversification

The correlation between SP Funds SP and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SP Funds SP and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with SPUS Etf
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SP Funds SP. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with SPUS Etf

  1.0VUG Vanguard Growth IndexPairCorr
  1.0IWF iShares Russell 1000 Sell-off TrendPairCorr
  1.0IVW iShares SP 500 Sell-off TrendPairCorr
  1.0SPYG SPDR Portfolio SPPairCorr
  1.0IUSG iShares Core SPPairCorr
  1.0VONG Vanguard Russell 1000PairCorr
  1.0MGK Vanguard Mega CapPairCorr
  1.0VRGWX Vanguard Russell 1000PairCorr
  1.0QQQM Invesco NASDAQ 100 Sell-off TrendPairCorr
  1.0IWY iShares Russell TopPairCorr
  0.98USD ProShares Ultra SemiPairCorr
  0.91GBTC Grayscale Bitcoin TrustPairCorr
  0.99FNGO MicroSectors FANG IndexPairCorr
  0.91BITO ProShares BitcoinPairCorr
  0.97CRPT First Trust SkyBridgePairCorr
  0.87NRGU Bank of MontrealPairCorr
  0.99BULZ MicroSectors SolactivePairCorr
  0.95BITS Global X BlockchainPairCorr
  0.99FNGG Direxion Daily SelectPairCorr
  0.97DFEN Direxion Daily AerospacePairCorr
  0.69EUSB iShares TrustPairCorr
  1.0BUFD FT Cboe VestPairCorr
  0.83KGRN KraneShares MSCI ChinaPairCorr
  0.94BA BoeingPairCorr
  0.77INTC Intel Earnings Call This WeekPairCorr
  0.97BAC Bank of AmericaPairCorr
  0.92MMM 3M CompanyPairCorr
  0.97AXP American ExpressPairCorr
  0.98CSCO Cisco SystemsPairCorr
  0.86PFE Pfizer IncPairCorr
  0.84CVX Chevron CorpPairCorr
  0.97JPM JPMorgan ChasePairCorr

Moving against SPUS Etf

  0.67MCD McDonaldsPairCorr
  0.51PG Procter GamblePairCorr

Related Correlations Analysis

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