SPDR SP Correlations

GMF Etf

USD 118.39 0.43 0.36%

The current 90-days correlation between SPDR SP Emerging and SPDR SP Emerging is 0.15 (i.e., Average 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.

SPDR SP Correlation With Market

Weak diversification

The correlation between SPDR SP Emerging and DJI is 0.33 (i.e., 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 Risk vs Return Analysis 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 population.

Moving together with SPDR Etf

0.78	AAXJ	iShares MSCI All	Pair Corr
0.74	AIA	iShares Asia 50	Pair Corr
0.9	FLAX	Franklin FTSE Asia	Pair Corr
0.63	DVYA	iShares AsiaPacific	Pair Corr
0.94	MINV	Matthews Asia Innovators	Pair Corr
0.77	ADIV	SmartETFs Asia Pacific	Pair Corr
0.61	MCD	McDonalds	Pair Corr
0.62	DD	Dupont De Nemours	Pair Corr

Moving against SPDR Etf

0.33

CAT

Caterpillar

Pair Corr

Related Correlations Analysis

	EWX	GWX	GXC	CWI	GII
EWX		0.33	0.24	0.25	-0.05	EWX
GWX	0.33		0.87	0.97	0.64	GWX
GXC	0.24	0.87		0.94	0.36	GXC
CWI	0.25	0.97	0.94		0.57	CWI
GII	-0.05	0.64	0.36	0.57		GII
	EWX	GWX	GXC	CWI	GII

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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

CWI	+ 0.97	GWX
CWI	+ 0.94	GXC
GXC	+ 0.87	GWX
GII	+ 0.64	GWX
GII	+ 0.57	CWI
GII	+ 0.36	GXC

High negative correlations

GII

- 0.05

EWX

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
EWX	0.68	(0.07)	0.00	(2.90)	0.00	0.00	1.33	(1.82)	3.90
GWX	0.67	0.03	0.13	(0.25)	0.85	(0.70)	1.45	(1.16)	4.46
GXC	1.19	0.27	0.23	0.90	1.16	(1.34)	2.35	(2.19)	6.88
CWI	0.64	0.06	0.15	(0.43)	0.81	(0.65)	1.44	(1.47)	4.81
GII	0.66	0.03	0.12	(0.48)	0.82	(0.80)	1.32	(1.66)	3.57

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