SPDR SP Correlations

Etfs . USA . 
Etf . SPDR SP Emerging
XCNY Etf   26.22  0.17  0.64%   
The current 90-days correlation between SPDR SP Emerging and Vanguard FTSE Emerging is 0.86 (i.e., Very poor 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

Very weak diversification

The correlation between SPDR SP Emerging and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Emerging and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in SPDR SP Emerging. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with SPDR Etf

  0.99VWO Vanguard FTSE Emerging Sell-off TrendPairCorr
  0.99IEMG iShares Core MSCI Aggressive PushPairCorr
  0.62EMC Global X FundsPairCorr
  0.99EEM iShares MSCI Emerging Aggressive PushPairCorr
  0.99SPEM SPDR Portfolio EmergingPairCorr
  0.99ESGE iShares ESG AwarePairCorr
  0.62SFGRX Seafarer OverseasPairCorr
  0.61DGS WisdomTree EmergingPairCorr
  0.91GBTC Grayscale Bitcoin TrustPairCorr
  0.95USD ProShares Ultra SemiPairCorr
  0.97TECL Direxion Daily TechnologyPairCorr
  0.98QLD ProShares Ultra QQQPairCorr
  0.97SMH VanEck Semiconductor ETFPairCorr
  0.97SOXX iShares Semiconductor ETFPairCorr
  0.98SPXL Direxion Daily SP500PairCorr
  0.98UPRO ProShares UltraPro SP500PairCorr
  0.97AXP American ExpressPairCorr
  0.94BA BoeingPairCorr
  0.94GE GE Aerospace Earnings Call This WeekPairCorr
  0.97MSFT MicrosoftPairCorr
  0.96DIS Walt DisneyPairCorr
  0.91AA Alcoa CorpPairCorr
  0.79CVX Chevron CorpPairCorr
  0.9DD Dupont De NemoursPairCorr
  0.97JPM JPMorgan ChasePairCorr
  0.92IBM International Business Earnings Call This WeekPairCorr
  0.97CAT CaterpillarPairCorr

Moving against SPDR Etf

  0.36VZ Verizon Communications Earnings Call TomorrowPairCorr

Related Correlations Analysis

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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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VWO  0.56  0.17  0.13  0.51  0.35 
(0.64)
 1.57 
(1.18)
 4.17 
IEMG  0.58  0.19  0.16  0.55  0.33 
(0.67)
 1.50 
(1.28)
 4.51 
EMC  0.66  0.18  0.17  0.43  0.33 
(0.80)
 2.20 
(1.06)
 4.76 
EEM  0.57  0.18  0.15  0.53  0.33 
(0.71)
 1.49 
(1.23)
 4.44 
SPEM  0.57  0.15  0.10  0.44  0.43 
(0.68)
 1.70 
(1.20)
 4.16 
FNDE  0.55  0.17  0.15  0.55  0.32 
(0.68)
 1.58 
(1.10)
 3.92 
ESGE  0.59  0.20  0.17  0.55  0.37 
(0.70)
 1.57 
(1.36)
 4.61 
SFGRX  0.39  0.16  0.09  0.59  0.22 
(0.47)
 1.11 
(0.69)
 3.24 
DGS  0.57  0.22  0.18  0.63  0.36 
(0.67)
 1.27 
(1.18)
 4.92 
XSOE  0.59  0.20  0.18  0.58  0.24 
(0.72)
 1.42 
(1.16)
 4.79 

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