SPDR Galaxy Correlations

DECO Etf

35.72 1.82 4.85%

The current 90-days correlation between SPDR Galaxy Digital and iShares Dividend and is 0.45 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR Galaxy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR Galaxy Digital moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR Galaxy Correlation With Market

Significant diversification

The correlation between SPDR Galaxy Digital and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Galaxy Digital and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in SPDR Galaxy Digital. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with SPDR Etf

0.72	GBTC	Grayscale Bitcoin Trust Downward Rally	Pair Corr
0.84	BITO	ProShares Bitcoin Aggressive Push	Pair Corr
0.84	BLOK	Amplify Transformational	Pair Corr
0.79	BLCN	Siren Nasdaq NexGen	Pair Corr
0.82	BITQ	Bitwise Crypto Industry Downward Rally	Pair Corr
0.81	SPBC	Simplify Equity PLUS	Pair Corr
0.72	BTC	Grayscale Bitcoin Mini Downward Rally	Pair Corr
0.83	DAPP	VanEck Digital Trans	Pair Corr
0.86	CRPT	First Trust SkyBridge	Pair Corr
0.63	WMT	Walmart	Pair Corr
0.67	DIS	Walt Disney	Pair Corr

Moving against SPDR Etf

0.72	VXX	iPath Series B Buyout Trend	Pair Corr
0.57	EMC	Global X Funds	Pair Corr
0.36	INTL	Main International ETF	Pair Corr
0.53	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.37	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.77	-0.52	-0.53	0.37	0.44	0.52	0.2	-0.02	-0.59	META
MSFT	0.77		-0.61	-0.29	0.61	0.07	0.7	0.44	-0.28	-0.62	MSFT
UBER	-0.52	-0.61		0.57	-0.69	0.16	-0.8	-0.57	0.68	0.81	UBER
F	-0.53	-0.29	0.57		-0.06	-0.15	-0.17	0.13	0.08	0.77	F
T	0.37	0.61	-0.69	-0.06		-0.2	0.85	0.81	-0.64	-0.47	T
A	0.44	0.07	0.16	-0.15	-0.2		-0.14	-0.35	0.63	0.14	A
CRM	0.52	0.7	-0.8	-0.17	0.85	-0.14		0.84	-0.7	-0.58	CRM
JPM	0.2	0.44	-0.57	0.13	0.81	-0.35	0.84		-0.76	-0.38	JPM
MRK	-0.02	-0.28	0.68	0.08	-0.64	0.63	-0.7	-0.76		0.46	MRK
XOM	-0.59	-0.62	0.81	0.77	-0.47	0.14	-0.58	-0.38	0.46		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

CRM	+ 0.85	T
JPM	+ 0.84	CRM
XOM	+ 0.81	UBER
JPM	+ 0.81	T
MSFT	+ 0.77	META
XOM	+ 0.77	F

High negative correlations

CRM	- 0.8	UBER
MRK	- 0.76	JPM
MRK	- 0.7	CRM
T	- 0.69	UBER
MRK	- 0.64	T
XOM	- 0.62	MSFT

SPDR Galaxy Competition Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Galaxy 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 Galaxy'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	1.33	0.09	0.06	0.44	1.47	(1.51)	3.22	(3.15)	7.43
MSFT	0.89	0.02	0.01	(0.18)	1.62	(0.81)	1.78	(1.73)	8.14
UBER	1.73	(0.12)	0.00	(0.72)	0.00	0.00	2.67	(5.35)	20.41
F	1.38	(0.07)	0.00	(0.26)	0.00	0.00	2.38	(2.81)	11.21
T	0.98	0.03	0.02	0.09	1.20	(1.02)	1.93	(1.99)	7.95
A	1.13	(0.07)	0.00	(0.21)	0.00	0.00	2.43	(2.42)	8.06
CRM	1.46	0.24	0.15	2.37	1.38	(1.69)	3.16	(2.88)	14.80
JPM	1.06	0.28	0.22	148.19	1.02	(1.28)	1.99	(1.42)	15.87
MRK	0.94	(0.12)	0.00	(0.53)	0.00	0.00	1.72	(2.13)	5.17
XOM	0.76	(0.17)	0.00	(0.92)	0.00	0.00	1.71	(2.14)	6.06

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