SPDR Series Correlations

BILS Etf

USD 99.40 0.03 0.03%

The current 90-days correlation between SPDR Series Trust and WisdomTree Floating Rate is 0.13 (i.e., Average diversification). The correlation of SPDR Series 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 Series Correlation With Market

Significant diversification

The correlation between SPDR Series Trust and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Series Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in SPDR Series Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with SPDR Etf

1.0	BIL	SPDR Bloomberg 1	Pair Corr
0.9	SHV	iShares Short Treasury	Pair Corr
0.9	JPST	JPMorgan Ultra Short	Pair Corr
0.99	USFR	WisdomTree Floating Rate	Pair Corr
0.9	ICSH	iShares Ultra Short	Pair Corr
0.9	FTSM	First Trust Enhanced	Pair Corr
0.9	SGOV	iShares 0 3	Pair Corr
0.89	GBIL	Goldman Sachs Access	Pair Corr
0.99	TFLO	iShares Treasury Floating	Pair Corr
0.9	FLRN	SPDR Bloomberg Investment	Pair Corr
0.89	FXY	Invesco CurrencyShares	Pair Corr
0.69	T	ATT Inc Earnings Call This Week	Pair Corr
0.7	KO	Coca Cola	Pair Corr
0.88	JNJ	Johnson Johnson	Pair Corr
0.64	MCD	McDonalds	Pair Corr

Moving against SPDR Etf

0.9	GRI	GRI Bio Earnings Call This Week	Pair Corr
0.78	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.53	AA	Alcoa Corp	Pair Corr
0.57	AXP	American Express Sell-off Trend	Pair Corr
0.51	CAT	Caterpillar	Pair Corr
0.49	HPQ	HP Inc	Pair Corr
0.43	HD	Home Depot	Pair Corr
0.36	BA	Boeing	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.04	0.59	-0.54	0.32	0.47	0.26	0.9	-0.75	-0.01	META
MSFT	-0.04		-0.62	0.09	-0.79	0.44	0.89	0.1	0.44	-0.52	MSFT
UBER	0.59	-0.62		-0.35	0.8	-0.04	-0.53	0.53	-0.85	0.54	UBER
F	-0.54	0.09	-0.35		-0.05	-0.07	-0.08	-0.39	0.56	0.31	F
T	0.32	-0.79	0.8	-0.05		-0.41	-0.71	0.17	-0.65	0.58	T
A	0.47	0.44	-0.04	-0.07	-0.41		0.57	0.7	-0.02	-0.18	A
CRM	0.26	0.89	-0.53	-0.08	-0.71	0.57		0.33	0.24	-0.58	CRM
JPM	0.9	0.1	0.53	-0.39	0.17	0.7	0.33		-0.63	0.07	JPM
MRK	-0.75	0.44	-0.85	0.56	-0.65	-0.02	0.24	-0.63		-0.31	MRK
XOM	-0.01	-0.52	0.54	0.31	0.58	-0.18	-0.58	0.07	-0.31		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

JPM	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
JPM	+ 0.7	A
UBER	+ 0.59	META
XOM	+ 0.58	T

High negative correlations

MRK	- 0.85	UBER
T	- 0.79	MSFT
MRK	- 0.75	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

SPDR Series Competition Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Series 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 Series' 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	1.59	0.02	0.00	(0.05)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.12	(0.15)	0.00	(0.28)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.41	0.19	0.74	2.06	(2.04)	4.72	(3.13)	12.75
F	1.47	0.07	0.03	0.00	2.22	(1.39)	2.71	(2.89)	10.14
T	1.04	0.26	0.16	0.40	1.61	(1.11)	1.90	(1.75)	11.66
A	1.17	(0.12)	0.00	(0.21)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.27)	0.00	(0.31)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.09	0.05	0.02	1.74	(1.04)	1.99	(3.35)	6.85
MRK	1.17	(0.11)	0.00	1.52	0.00	0.00	2.07	(1.80)	11.58
XOM	1.06	0.11	0.10	0.17	1.39	(1.08)	2.55	(2.36)	5.89

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