SPDR DoubleLine Correlations

TOTL Etf

USD 40.44 0.02 0.05%

The current 90-days correlation between SPDR DoubleLine Total and Xtrackers USD High is 0.33 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR DoubleLine moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR DoubleLine Total moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR DoubleLine Correlation With Market

Average diversification

The correlation between SPDR DoubleLine Total and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR DoubleLine Total 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 Total. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with SPDR Etf

0.89	IUSB	iShares Core Total Sell-off Trend	Pair Corr
0.94	FIXD	First Trust TCW	Pair Corr
0.89	FBND	Fidelity Total Bond Sell-off Trend	Pair Corr
0.62	BNDS	Series Portfolios Trust	Pair Corr
0.89	HTRB	Hartford Total Return	Pair Corr
0.66	DRSK	Aptus Defined Risk	Pair Corr
0.89	GTO	Invesco Total Return	Pair Corr
0.87	EUSB	iShares Trust	Pair Corr
0.95	JCPB	JPMorgan Core Plus	Pair Corr
0.69	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.73	EQTYX	WisdomTree Siegel Global	Pair Corr
0.82	TAXT	Northern Trust Tax	Pair Corr
0.96	SHAG	WisdomTree Yield Enhanced	Pair Corr
0.76	NVBU	AllianzIM Equity Buffer15	Pair Corr
0.62	EEMV	iShares MSCI Emerging	Pair Corr
0.69	TSLP	Kurv Yield Premium	Pair Corr
0.64	WIA	Western AssetClaymore	Pair Corr
0.72	EMOP	AB Active ETFs,	Pair Corr
0.65	ICLN	iShares Global Clean	Pair Corr
0.73	SLV	iShares Silver Trust	Pair Corr
0.67	FELG	Fidelity Covington Trust	Pair Corr
0.75	PPI	Investment Managers	Pair Corr
0.67	IXN	iShares Global Tech	Pair Corr
0.68	HLAL	Wahed FTSE USA	Pair Corr
0.9	CEMB	iShares JP Morgan	Pair Corr
0.71	BMAR	Innovator SP 500	Pair Corr
0.63	XHYT	BondBloxx ETF Trust	Pair Corr
0.64	PULT	Putnam ETF Trust	Pair Corr
0.63	HYG	iShares iBoxx High	Pair Corr
0.75	FEMR	Fidelity Covington Trust	Pair Corr
0.71	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.67	IXSRF	IXSRF	Pair Corr
0.68	VGT	Vanguard Information	Pair Corr
0.7	CNRG	SPDR Kensho Clean	Pair Corr

Moving against SPDR Etf

0.41

OCTD

Innovator Capital

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.16	0.47	-0.72	0.71	-0.7	0.23	-0.3	-0.64	-0.63	META
MSFT	0.16		0.34	0.21	-0.44	0.38	0.3	0.13	0.11	0.01	MSFT
UBER	0.47	0.34		-0.25	0.19	-0.31	0.09	0.34	-0.42	-0.2	UBER
F	-0.72	0.21	-0.25		-0.76	0.8	0.09	0.38	0.59	0.72	F
T	0.71	-0.44	0.19	-0.76		-0.92	-0.09	-0.31	-0.6	-0.53	T
A	-0.7	0.38	-0.31	0.8	-0.92		0.08	0.33	0.64	0.56	A
CRM	0.23	0.3	0.09	0.09	-0.09	0.08		-0.23	-0.16	-0.18	CRM
JPM	-0.3	0.13	0.34	0.38	-0.31	0.33	-0.23		-0.13	0.52	JPM
MRK	-0.64	0.11	-0.42	0.59	-0.6	0.64	-0.16	-0.13		0.44	MRK
XOM	-0.63	0.01	-0.2	0.72	-0.53	0.56	-0.18	0.52	0.44		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	+ 0.8	F
XOM	+ 0.72	F
T	+ 0.71	META
MRK	+ 0.64	A
MRK	+ 0.59	F
XOM	+ 0.56	A

High negative correlations

A	- 0.92	T
T	- 0.76	F
F	- 0.72	META
A	- 0.7	META
MRK	- 0.64	META
XOM	- 0.63	META

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	1.25	(0.36)	0.00	1.92	0.00	0.00	1.87	(2.72)	13.52
MSFT	0.82	(0.07)	0.00	(3.80)	0.00	0.00	1.85	(2.19)	5.08
UBER	1.42	(0.12)	0.00	(0.09)	0.00	0.00	3.34	(2.71)	9.09
F	1.42	0.15	0.09	0.14	1.54	(1.67)	3.66	(2.07)	16.30
T	0.99	(0.20)	0.00	(0.94)	0.00	0.00	1.84	(2.32)	6.25
A	1.30	0.25	0.18	0.22	1.13	(1.45)	3.82	(2.15)	11.03
CRM	1.59	(0.14)	0.00	(0.10)	0.00	0.00	2.93	(3.61)	9.91
JPM	0.87	0.03	0.03	0.07	1.29	(0.82)	1.67	(1.91)	5.76
MRK	1.26	0.23	0.15	6.41	1.12	(1.60)	3.84	(2.36)	11.45
XOM	0.94	0.13	0.08	0.50	1.12	(0.92)	1.78	(1.93)	4.71

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