SPDR SP Correlations

EDIV Etf

USD 36.58 0.09 0.25%

The current 90-days correlation between SPDR SP Emerging and SPDR SP International is 0.58 (i.e., Very weak 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 0.44 (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.

Check out Investing Opportunities 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 gross domestic product.

Moving together with SPDR Etf

0.95	VWO	Vanguard FTSE Emerging	Pair Corr
0.95	IEMG	iShares Core MSCI	Pair Corr
0.63	EMC	Global X Funds	Pair Corr
0.95	EEM	iShares MSCI Emerging	Pair Corr
0.95	SPEM	SPDR Portfolio Emerging	Pair Corr
0.96	FNDE	Schwab Fundamental	Pair Corr
0.93	ESGE	iShares ESG Aware	Pair Corr
0.94	SFGRX	Seafarer Overseas	Pair Corr
0.82	DGS	WisdomTree Emerging	Pair Corr
0.86	XSOE	WisdomTree Emerging	Pair Corr
0.83	SPAQ	Horizon Kinetics SPAC	Pair Corr
0.79	PULS	PGIM Ultra Short	Pair Corr
0.61	PG	Procter Gamble	Pair Corr
0.64	MCD	McDonalds	Pair Corr
0.67	VZ	Verizon Communications	Pair Corr
0.63	T	ATT Inc Earnings Call This Week	Pair Corr

Moving against SPDR Etf

0.43	AXP	American Express Sell-off Trend	Pair Corr
0.41	CAT	Caterpillar	Pair Corr
0.36	HD	Home Depot	Pair Corr
0.36	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	DWX	DVYE	FGD	WDIV	EWX
DWX		0.92	0.98	0.97	0.37	DWX
DVYE	0.92		0.95	0.9	0.52	DVYE
FGD	0.98	0.95		0.95	0.41	FGD
WDIV	0.97	0.9	0.95		0.44	WDIV
EWX	0.37	0.52	0.41	0.44		EWX
	DWX	DVYE	FGD	WDIV	EWX

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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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DWX	0.41	0.17	0.46	0.57	0.13	(0.52)	1.09	(0.45)	2.20
DVYE	0.59	0.14	0.23	0.27	0.57	(0.62)	1.27	(0.93)	4.70
FGD	0.54	0.17	0.33	0.37	0.44	(0.62)	1.42	(0.97)	2.96
WDIV	0.48	0.11	0.24	0.23	0.43	(0.50)	1.10	(0.79)	2.48
EWX	0.63	(0.03)	0.00	0.42	0.00	0.00	1.33	(1.57)	3.90

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