SPDR SSgA Correlations

GAL Etf

USD 45.40 0.11 0.24%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR SSgA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR SSgA Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR SSgA Correlation With Market

Poor diversification

The correlation between SPDR SSgA Global and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SSgA Global and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in SPDR SSgA Global. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with SPDR Etf

0.8	AOA	iShares Core Aggressive	Pair Corr
0.78	RLY	SPDR SSgA Multi	Pair Corr
0.79	NTSI	WisdomTree International	Pair Corr
0.94	GAA	Cambria Global Asset Low Volatility	Pair Corr
0.82	GYLD	Arrow ETF Trust	Pair Corr
0.79	FCEF	First Trust Income	Pair Corr
0.88	MAPP	Harbor ETF Trust	Pair Corr
0.76	HART	IQ Healthy Hearts	Pair Corr
0.75	SNPD	DBX ETF Trust	Pair Corr
0.75	EVUS	iShares ESG Aware	Pair Corr
0.91	BKCI	BNY Mellon ETF	Pair Corr
0.74	MYMH	SPDR SSGA My2028	Pair Corr
0.72	VEMGF	Vanguard Funds Public	Pair Corr
0.61	UTWY	US Treasury 20	Pair Corr
0.74	DD	Dupont De Nemours	Pair Corr
0.7	JNJ	Johnson Johnson	Pair Corr
0.69	KO	Coca Cola	Pair Corr
0.65	VZ	Verizon Communications	Pair Corr
0.78	CSCO	Cisco Systems	Pair Corr
0.66	MCD	McDonalds	Pair Corr
0.61	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.81	IBM	International Business	Pair Corr

Moving against SPDR Etf

0.72	MRK	Merck Company	Pair Corr
0.37	MSFT	Microsoft	Pair Corr
0.32	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	INKM	RLY	IBND	EBND	GAA
INKM		0.66	0.66	0.87	0.84	INKM
RLY	0.66		0.37	0.63	0.8	RLY
IBND	0.66	0.37		0.86	0.66	IBND
EBND	0.87	0.63	0.86		0.78	EBND
GAA	0.84	0.8	0.66	0.78		GAA
	INKM	RLY	IBND	EBND	GAA

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

SPDR SSgA Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR SSgA 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 SSgA'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
INKM	0.33	(0.01)	0.17	0.00	0.40	(0.34)	0.76	(0.56)	1.55
RLY	0.48	0.07	0.17	0.12	0.57	(0.49)	0.96	(0.85)	2.23
IBND	0.43	0.05	0.20	0.23	0.44	(0.51)	0.90	(0.84)	2.57
EBND	0.32	0.02	0.21	(0.50)	0.36	(0.40)	0.81	(0.65)	2.43
GAA	0.42	0.03	0.14	0.03	0.53	(0.44)	0.85	(0.86)	1.89

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC