SPDR EURO Correlations

FEZ Etf

USD 57.45 0.10 0.17%

The current 90-days correlation between SPDR EURO STOXX and iShares MSCI Germany is 0.92 (i.e., Almost no diversification). The correlation of SPDR EURO 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 EURO Correlation With Market

Average diversification

The correlation between SPDR EURO STOXX and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR EURO STOXX 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 EURO STOXX. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with SPDR Etf

1.0	VGK	Vanguard FTSE Europe	Pair Corr
1.0	EZU	iShares MSCI Eurozone	Pair Corr
1.0	BBEU	JPMorgan BetaBuilders	Pair Corr
0.99	IEUR	iShares Core MSCI	Pair Corr
0.99	IEV	iShares Europe ETF	Pair Corr
0.91	HEDJ	WisdomTree Europe Hedged	Pair Corr
0.95	DBEU	Xtrackers MSCI Europe	Pair Corr
0.98	HEZU	iShares Currency Hedged	Pair Corr
0.87	FEP	First Trust Europe	Pair Corr
0.8	BND	Vanguard Total Bond	Pair Corr
0.79	VEA	Vanguard FTSE Developed	Pair Corr
0.75	BKCI	BNY Mellon ETF	Pair Corr
0.61	TRV	The Travelers Companies	Pair Corr
0.76	VZ	Verizon Communications	Pair Corr
0.61	IBM	International Business	Pair Corr
0.67	MCD	McDonalds	Pair Corr
0.72	KO	Coca Cola	Pair Corr
0.63	PG	Procter Gamble	Pair Corr

Moving against SPDR Etf

0.43	VUG	Vanguard Growth Index	Pair Corr
0.32	VB	Vanguard Small Cap	Pair Corr
0.47	AXP	American Express	Pair Corr
0.4	DIS	Walt Disney	Pair Corr
0.39	BAC	Bank of America Aggressive Push	Pair Corr
0.33	PFE	Pfizer Inc Sell-off Trend	Pair Corr

Related Correlations Analysis

	EZU	EWG	EWU	IEV	EWP
EZU		1.0	0.98	1.0	0.88	EZU
EWG	1.0		0.98	0.99	0.89	EWG
EWU	0.98	0.98		0.99	0.88	EWU
IEV	1.0	0.99	0.99		0.89	IEV
EWP	0.88	0.89	0.88	0.89		EWP
	EZU	EWG	EWU	IEV	EWP

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SPDR EURO Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR EURO 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 EURO'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
EZU	0.84	0.25	0.29	2.42	0.76	(0.91)	2.16	(1.59)	5.96
EWG	0.93	0.31	0.29	1.72	0.87	(1.01)	2.50	(1.93)	6.68
EWU	0.61	0.18	0.33	(7.41)	0.45	(0.69)	1.56	(0.93)	4.39
IEV	0.74	0.23	0.31	3.12	0.68	(0.86)	1.41	(1.18)	5.23
EWP	0.90	0.41	0.37	0.61	0.70	(0.98)	2.27	(1.74)	4.96

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