SPDR SP Correlations

SPY Etf

USD 668.73 9.70 1.47%

The current 90-days correlation between SPDR SP 500 and Vanguard SP 500 is 1.0 (i.e., No risk reduction). 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

Poor diversification

The correlation between SPDR SP 500 and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP 500 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 500. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with SPDR Etf

1.0	VTI	Vanguard Total Stock	Pair Corr
1.0	IVV	iShares Core SP	Pair Corr
0.92	VIG	Vanguard Dividend	Pair Corr
1.0	VV	Vanguard Large Cap	Pair Corr
1.0	IWB	iShares Russell 1000	Pair Corr
1.0	ESGU	iShares ESG Aware	Pair Corr
0.94	DFAC	Dimensional Core Equity	Pair Corr
0.99	UPRO	ProShares UltraPro SP500	Pair Corr
0.96	QTJA	Innovator ETFs Trust	Pair Corr
0.85	QTOC	Innovator ETFs Trust	Pair Corr
0.83	XTOC	Innovator ETFs Trust	Pair Corr
0.97	QTAP	Innovator Growth 100	Pair Corr
0.93	XTJA	Innovator ETFs Trust	Pair Corr
0.96	XTAP	Innovator Equity Acc	Pair Corr
0.89	TCAI	Tortoise Capital Series	Pair Corr
0.77	CAT	Caterpillar	Pair Corr
0.86	INTC	Intel Aggressive Push	Pair Corr
0.93	GE	GE Aerospace	Pair Corr
0.75	AXP	American Express	Pair Corr
0.89	IBM	International Business	Pair Corr

Moving against SPDR Etf

0.35	SPLG	SSgA Symbol Change	Pair Corr
0.73	T	ATT Inc	Pair Corr
0.73	VZ	Verizon Communications	Pair Corr
0.51	MCD	McDonalds	Pair Corr
0.42	HD	Home Depot	Pair Corr
0.37	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	SPY	VOO	DHDG	Z	MBCC	MBBB	DHLX	BZDYF
SPY		1.0	0.94	-0.57	0.45	0.6	0.45	0.0	SPY
VOO	1.0		0.94	-0.57	0.44	0.6	0.45	0.0	VOO
DHDG	0.94	0.94		-0.69	0.21	0.55	0.34	0.0	DHDG
Z	-0.57	-0.57	-0.69		0.19	-0.18	-0.28	0.0	Z
MBCC	0.45	0.44	0.21	0.19		0.42	0.58	0.0	MBCC
MBBB	0.6	0.6	0.55	-0.18	0.42		0.42	0.0	MBBB
DHLX	0.45	0.45	0.34	-0.28	0.58	0.42		0.0	DHLX
BZDYF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		BZDYF
	SPY	VOO	DHDG	Z	MBCC	MBBB	DHLX	BZDYF

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

VOO	+ 1.0	SPY
DHDG	+ 0.94	SPY
DHDG	+ 0.94	VOO
MBBB	+ 0.6	SPY
MBBB	+ 0.6	VOO
DHLX	+ 0.58	MBCC

High negative correlations

Z	- 0.69	DHDG
Z	- 0.57	VOO
Z	- 0.57	SPY
DHLX	- 0.28	Z
MBBB	- 0.18	Z
BZDYF	- 0.0	DHLX

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
SPY	0.56	0.04	0.04	0.06	0.83	(0.53)	1.18	(1.19)	3.54
VOO	0.55	0.04	0.04	0.06	0.82	(0.52)	1.20	(1.16)	3.51
DHDG	0.22	0.03	0.05	0.10	0.21	(0.25)	0.73	(0.57)	1.64
Z	1.96	(0.28)	0.00	(0.21)	0.00	0.00	4.15	(4.33)	11.58
MBCC	0.53	(0.05)	0.00	(0.05)	0.00	0.00	0.84	(1.25)	2.75
MBBB	0.18	0.01	(0.03)	0.18	0.13	(0.20)	0.41	(0.32)	1.01
DHLX	0.59	(0.10)	0.00	(0.18)	0.00	0.00	1.02	(1.38)	2.41
BZDYF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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