SPDR SP Correlations

EFIV Etf

USD 57.74 0.34 0.59%

The current 90-days correlation between SPDR SP 500 and Xtrackers SP 500 is 1.0 (i.e., No risk reduction). 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

Weak diversification

The correlation between SPDR SP 500 and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP 500 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 500. 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

0.98	VTI	Vanguard Total Stock	Pair Corr
0.98	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.98	IVV	iShares Core SP	Pair Corr
0.81	VIG	Vanguard Dividend	Pair Corr
0.97	VV	Vanguard Large Cap	Pair Corr
0.72	RSP	Invesco SP 500	Pair Corr
0.97	IWB	iShares Russell 1000	Pair Corr
0.97	ESGU	iShares ESG Aware	Pair Corr
0.94	DFAC	Dimensional Core Equity	Pair Corr
0.98	SPLG	SPDR Portfolio SP	Pair Corr
0.61	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.63	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.73	BAC	Bank of America	Pair Corr
0.66	JPM	JPMorgan Chase	Pair Corr

Moving against SPDR Etf

0.56	NRGU	Bank Of Montreal	Pair Corr
0.66	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.36	KO	Coca Cola Sell-off Trend	Pair Corr
0.31	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Related Correlations Analysis

	SNPE	USXF	SPYX	VLU	ESML
SNPE		0.87	0.84	0.86	0.86	SNPE
USXF	0.87		0.59	0.92	0.91	USXF
SPYX	0.84	0.59		0.63	0.64	SPYX
VLU	0.86	0.92	0.63		0.98	VLU
ESML	0.86	0.91	0.64	0.98		ESML
	SNPE	USXF	SPYX	VLU	ESML

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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
SNPE	0.57	0.03	0.01	0.11	0.78	(0.63)	1.32	(1.20)	5.33
USXF	0.72	0.04	0.02	0.11	1.07	(0.65)	1.54	(1.68)	5.89
SPYX	0.60	0.03	0.01	1.18	0.86	(0.59)	1.19	(1.42)	5.33
VLU	0.54	0.04	0.03	0.13	0.63	(0.62)	1.00	(0.82)	6.30
ESML	0.82	0.05	0.03	0.12	1.03	(0.89)	1.66	(1.36)	8.86

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