SPDR Kensho Correlations

XKFS Etf

USD 76.98 0.54 0.70%

The correlation of SPDR Kensho 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 Kensho Correlation With Market

Very weak diversification

The correlation between SPDR Kensho Future 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 Kensho Future and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in SPDR Kensho Future. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with SPDR Etf

0.99	VGT	Vanguard Information	Pair Corr
0.99	XLK	Technology Select Sector	Pair Corr
0.99	IYW	iShares Technology ETF	Pair Corr
0.99	SMH	VanEck Semiconductor ETF	Pair Corr
0.98	SOXX	iShares Semiconductor ETF	Pair Corr
0.93	CIBR	First Trust NASDAQ	Pair Corr
0.99	FTEC	Fidelity MSCI Information	Pair Corr
0.97	IGV	iShares Expanded Tech	Pair Corr
0.97	FDN	First Trust Dow	Pair Corr
0.99	IGM	iShares Expanded Tech	Pair Corr
0.98	DHF	BNY Mellon High	Pair Corr
0.95	MAGS	Roundhill Magnificent	Pair Corr
0.93	ARP	Advisors Inner Circle	Pair Corr
0.91	PXMV	Invesco SP MidCap	Pair Corr
0.99	SEMI	Columbia Seligman	Pair Corr
0.72	GRW	TCW Compounders ETF	Pair Corr
0.88	BA	Boeing Earnings Call This Week	Pair Corr
0.96	JPM	JPMorgan Chase	Pair Corr
0.7	IBM	International Business	Pair Corr
0.65	CSCO	Cisco Systems	Pair Corr

Moving against SPDR Etf

0.31

Verizon Communications Aggressive Push

Pair Corr

Related Correlations Analysis

	FEU	ITE	XKFS	XKII	XKST
FEU		0.2	0.81	0.83	0.77	FEU
ITE	0.2		0.51	0.4	0.41	ITE
XKFS	0.81	0.51		0.98	0.96	XKFS
XKII	0.83	0.4	0.98		0.98	XKII
XKST	0.77	0.41	0.96	0.98		XKST
	FEU	ITE	XKFS	XKII	XKST

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SPDR Kensho Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Kensho 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 Kensho'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
FEU	0.56	0.05	(0.12)	0.35	0.60	(0.62)	1.21	(1.24)	3.79
ITE	0.22	0.01	(0.69)	(2.51)	0.23	(0.23)	0.35	(0.50)	1.10
XKFS	0.76	0.22	0.14	0.64	0.36	(0.92)	1.86	(1.05)	4.53
XKII	0.85	0.20	0.18	0.49	0.24	(1.06)	1.94	(1.21)	6.51
XKST	1.14	0.26	0.19	0.50	0.75	(1.38)	2.70	(1.53)	7.57

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