SPDR DoubleLine Correlations

STOT Etf

USD 47.49 0.02 0.04%

The current 90-days correlation between SPDR DoubleLine Short and Hartford Total Return is 0.13 (i.e., Average diversification). The correlation of SPDR DoubleLine 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 DoubleLine Correlation With Market

Good diversification

The correlation between SPDR DoubleLine Short and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR DoubleLine Short 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 DoubleLine Short. 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

0.95	BSV	Vanguard Short Term	Pair Corr
0.92	IGSB	iShares 1 5	Pair Corr
0.94	SPSB	SPDR Barclays Short	Pair Corr
0.95	ISTB	iShares Core 1	Pair Corr
0.94	SLQD	iShares 0 5	Pair Corr
0.9	GVI	iShares Intermediate	Pair Corr
0.96	LDUR	PIMCO Enhanced Low	Pair Corr
0.9	SUSB	iShares ESG 1	Pair Corr
0.66	USD	ProShares Ultra Semi	Pair Corr
0.94	SGVT	Schwab Strategic Trust	Pair Corr
0.69	AAAA	Amplius Aggressive Asset	Pair Corr
0.66	IBCA	iShares Trust	Pair Corr
0.63	TCAI	Tortoise Capital Series	Pair Corr
0.66	QQQ	Invesco QQQ Trust	Pair Corr
0.72	IDHQ	Invesco SP International	Pair Corr

Moving against SPDR Etf

0.67

GBTC

Grayscale Bitcoin Trust

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.44	0.58	-0.72	0.62	-0.73	0.35	-0.06	-0.7	-0.58	META
MSFT	0.44		0.7	0.01	-0.22	0.05	0.47	0.34	-0.29	-0.09	MSFT
UBER	0.58	0.7		-0.31	0.13	-0.44	0.33	0.5	-0.59	-0.23	UBER
F	-0.72	0.01	-0.31		-0.69	0.79	0.0	0.17	0.61	0.65	F
T	0.62	-0.22	0.13	-0.69		-0.81	0.0	-0.19	-0.57	-0.5	T
A	-0.73	0.05	-0.44	0.79	-0.81		-0.06	-0.02	0.71	0.43	A
CRM	0.35	0.47	0.33	0.0	0.0	-0.06		-0.11	-0.44	-0.32	CRM
JPM	-0.06	0.34	0.5	0.17	-0.19	-0.02	-0.11		-0.21	0.32	JPM
MRK	-0.7	-0.29	-0.59	0.61	-0.57	0.71	-0.44	-0.21		0.56	MRK
XOM	-0.58	-0.09	-0.23	0.65	-0.5	0.43	-0.32	0.32	0.56		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

A	+ 0.79	F
MRK	+ 0.71	A
UBER	+ 0.7	MSFT
XOM	+ 0.65	F
T	+ 0.62	META
MRK	+ 0.61	F

High negative correlations

A	- 0.81	T
A	- 0.73	META
F	- 0.72	META
MRK	- 0.7	META
T	- 0.69	F
MRK	- 0.59	UBER

SPDR DoubleLine Competition Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR DoubleLine 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 DoubleLine'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
META	1.28	(0.33)	0.00	(0.42)	0.00	0.00	1.87	(2.72)	13.52
MSFT	0.86	(0.10)	0.00	(0.12)	0.00	0.00	1.85	(2.19)	5.08
UBER	1.46	(0.23)	0.00	(0.21)	0.00	0.00	3.34	(3.30)	10.91
F	1.49	0.15	0.08	0.12	1.70	(1.72)	3.38	(2.35)	16.30
T	0.99	(0.17)	0.00	(0.42)	0.00	0.00	1.84	(2.32)	6.25
A	1.27	0.40	0.28	0.36	0.99	(1.44)	3.93	(2.15)	11.03
CRM	1.60	(0.14)	0.00	(0.11)	0.00	0.00	2.93	(3.61)	9.91
JPM	0.87	(0.01)	0.00	0.01	1.32	(0.80)	1.67	(1.91)	5.76
MRK	1.31	0.22	0.16	0.40	1.13	(1.71)	3.84	(2.36)	11.45
XOM	0.92	0.07	0.04	0.38	1.11	(0.87)	1.77	(1.93)	4.63

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