SPDR Bloomberg Correlations

GOVA Etf

EUR 26.13 0.01 0.04%

The current 90-days correlation between SPDR Bloomberg Euro and HSBC MSCI Japan is -0.01 (i.e., Good diversification). The correlation of SPDR Bloomberg 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 Bloomberg Correlation With Market

Good diversification

The correlation between SPDR Bloomberg Euro and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Bloomberg Euro and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SPDR Bloomberg could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SPDR Bloomberg when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back SPDR Bloomberg - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling SPDR Bloomberg Euro to buy it.

Moving together with SPDR Etf

0.63	VUTY	Vanguard USD Treasury	Pair Corr
0.75	TAT	VanEck iBoxx EUR	Pair Corr
0.92	VETY	Vanguard EUR Eurozone	Pair Corr
0.85	IBGL	iShares Govt Bond	Pair Corr
0.89	IBGX	iShares Euro Government	Pair Corr
0.9	IEGZ	iShares III Public	Pair Corr
0.65	IBGS	iShareso Government Bond	Pair Corr
0.72	BTMA	iShares II Public	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.18	0.49	0.19	0.1	0.15	0.59	0.3	-0.31	0.61	META
MSFT	0.18		0.14	0.24	-0.1	0.04	-0.03	-0.08	0.26	-0.3	MSFT
UBER	0.49	0.14		-0.04	-0.16	0.29	-0.12	-0.18	0.12	0.35	UBER
F	0.19	0.24	-0.04		0.41	-0.44	0.61	0.71	-0.43	0.33	F
T	0.1	-0.1	-0.16	0.41		-0.44	0.55	0.73	-0.8	0.39	T
A	0.15	0.04	0.29	-0.44	-0.44		-0.42	-0.57	0.6	0.0	A
CRM	0.59	-0.03	-0.12	0.61	0.55	-0.42		0.86	-0.77	0.54	CRM
JPM	0.3	-0.08	-0.18	0.71	0.73	-0.57	0.86		-0.85	0.46	JPM
MRK	-0.31	0.26	0.12	-0.43	-0.8	0.6	-0.77	-0.85		-0.56	MRK
XOM	0.61	-0.3	0.35	0.33	0.39	0.0	0.54	0.46	-0.56		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.86	CRM
JPM	+ 0.73	T
JPM	+ 0.71	F
XOM	+ 0.61	META
CRM	+ 0.61	F
MRK	+ 0.6	A

High negative correlations

MRK	- 0.85	JPM
MRK	- 0.8	T
MRK	- 0.77	CRM
JPM	- 0.57	A
XOM	- 0.56	MRK
A	- 0.44	T

SPDR Bloomberg Competition Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Bloomberg 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 Bloomberg'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
META	1.17	0.23	0.11	0.68	1.33	(1.35)	3.22	(3.15)	8.02
MSFT	0.91	0.03	(0.01)	0.14	1.50	(0.87)	2.09	(1.64)	8.19
UBER	1.68	(0.09)	(0.03)	0.02	2.41	(1.74)	2.69	(2.53)	20.10
F	1.45	(0.11)	(0.03)	0.03	2.25	(1.43)	2.53	(2.90)	11.21
T	1.00	0.29	0.16	(7.31)	0.90	(1.16)	2.65	(1.86)	6.59
A	1.17	(0.02)	(0.06)	0.04	1.50	(1.22)	2.71	(2.41)	9.02
CRM	1.27	0.37	0.26	0.45	0.97	(1.46)	3.18	(1.70)	9.98
JPM	1.13	(0.05)	0.03	0.08	1.42	(1.25)	2.05	(2.00)	15.87
MRK	0.93	(0.24)	0.00	(0.97)	0.00	0.00	2.00	(2.13)	4.89
XOM	0.98	(0.04)	(0.07)	0.02	1.32	(1.03)	2.10	(2.09)	5.74

Be your own money manager

Our tools can tell you how much better you can do entering a position in SPDR Bloomberg without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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