SPDR SP Correlations

GXC Etf

USD 89.50 2.44 2.65%

The current 90-days correlation between SPDR SP China and Invesco Golden Dragon is 0.93 (i.e., Almost no 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

Average diversification

The correlation between SPDR SP China and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP China 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 China. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with SPDR Etf

0.99	KWEB	KraneShares CSI China	Pair Corr
0.99	FXI	iShares China Large	Pair Corr
0.79	ASHR	Xtrackers Harvest CSI	Pair Corr
0.99	CQQQ	Invesco China Technology	Pair Corr
1.0	CXSE	WisdomTree China	Pair Corr
0.9	EWH	iShares MSCI Hong	Pair Corr
0.84	KBA	KraneShares Bosera MSCI	Pair Corr
0.74	CNYA	iShares MSCI China	Pair Corr
0.61	MLPR	ETRACS Quarterly Pay	Pair Corr
0.68	INTC	Intel	Pair Corr
0.93	T	ATT Inc Earnings Call This Week	Pair Corr
0.76	TRV	The Travelers Companies	Pair Corr
0.91	VZ	Verizon Communications	Pair Corr
0.77	IBM	International Business	Pair Corr
0.63	GE	GE Aerospace	Pair Corr
0.67	PG	Procter Gamble	Pair Corr

Moving against SPDR Etf

0.74	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.72	USD	ProShares Ultra Semi	Pair Corr
0.64	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.62	FNGO	MicroSectors FANG Index	Pair Corr
0.37	EWT	iShares MSCI Taiwan	Pair Corr
0.77	MSFT	Microsoft	Pair Corr
0.7	CAT	Caterpillar	Pair Corr
0.67	AA	Alcoa Corp	Pair Corr
0.64	AXP	American Express	Pair Corr
0.6	BAC	Bank of America Aggressive Push	Pair Corr
0.57	MRK	Merck Company	Pair Corr
0.55	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	PGJ	EWH	MCHI	FXI	GMF
PGJ		0.85	0.99	0.99	0.68	PGJ
EWH	0.85		0.88	0.87	0.59	EWH
MCHI	0.99	0.88		1.0	0.64	MCHI
FXI	0.99	0.87	1.0		0.61	FXI
GMF	0.68	0.59	0.64	0.61		GMF
	PGJ	EWH	MCHI	FXI	GMF

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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
PGJ	1.68	0.31	0.18	0.54	1.73	(2.00)	3.93	(3.14)	10.11
EWH	0.89	0.12	0.15	0.26	0.98	(0.97)	1.64	(1.59)	5.56
MCHI	1.33	0.33	0.25	0.82	1.30	(1.55)	2.63	(2.42)	7.91
FXI	1.35	0.36	0.26	0.75	1.29	(1.51)	2.72	(2.27)	7.67
GMF	0.79	0.04	0.07	0.03	1.11	(0.76)	1.38	(1.98)	5.51

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