| XKII Etf | | | USD 37.09 0.19 0.51% |
The current 90-days correlation between SPDR Kensho Intelligent and FlexShares STOXX Global is 0.27 (i.e., Modest diversification). 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.
SPDR Kensho Correlation With Market
Poor diversification
The correlation between SPDR Kensho Intelligent and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Kensho Intelligent and DJI in the same portfolio, assuming nothing else is changed.
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Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in SPDR Kensho Intelligent. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as
signals in gross domestic product.