SPDR SP Correlations

Etfs . USA . 
Etf . SPDR SP Bank
KBE Etf  USD 53.67  0.57  1.07%   
The current 90-days correlation between SPDR SP Bank and SPDR SP Regional is 0.99 (i.e., No risk reduction). 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

Good diversification

The correlation between SPDR SP Bank and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Bank and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in SPDR SP Bank. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with SPDR Etf

  0.83XLF Financial Select Sector Aggressive PushPairCorr
  0.92VFH Vanguard Financials IndexPairCorr
  1.0KRE SPDR SP Regional Aggressive PushPairCorr
  0.9IYF iShares Financials ETFPairCorr
  0.92FNCL Fidelity MSCI FinancialsPairCorr
  0.93IYG iShares FinancialPairCorr
  0.98FXO First Trust FinancialsPairCorr
  0.96IAT iShares Regional BanksPairCorr
  0.94VTI Vanguard Total StockPairCorr
  0.74SPY SPDR SP 500PairCorr
  0.74IVV iShares Core SPPairCorr
  0.74VTV Vanguard Value IndexPairCorr
  0.85VUG Vanguard Growth IndexPairCorr
  0.97VO Vanguard Mid CapPairCorr
  0.72WMT WalmartPairCorr
  0.81BAC Bank of America Aggressive PushPairCorr
  0.85JPM JPMorgan ChasePairCorr

Moving against SPDR Etf

  0.35EUFN iShares MSCI Europe Sell-off TrendPairCorr
  0.33BND Vanguard Total BondPairCorr
  0.47VZ Verizon Communications Aggressive PushPairCorr
  0.43TRV The Travelers CompaniesPairCorr
  0.36MRK Merck CompanyPairCorr
  0.35MCD McDonaldsPairCorr
  0.33JNJ Johnson JohnsonPairCorr

Related Correlations Analysis

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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   
XHB
+ 0.84
XRT
XME
+ 0.8
KRE
XRT
+ 0.78
KRE
XHB
+ 0.78
KRE
XME
+ 0.58
XHB
XME
+ 0.5
XRT
  
High negative correlations   
XRT
- 0.61
KIE
XHB
- 0.4
KIE
KIE
- 0.12
KRE
XME
- 0.03
KIE

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.

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