SPDR SP Correlations

KCE Etf

USD 129.39 0.34 0.26%

The current 90-days correlation between SPDR SP Capital and SPDR SP Insurance is 0.7 (i.e., Poor 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

Poor diversification

The correlation between SPDR SP Capital and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Capital 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 Capital. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with SPDR Etf

0.62	XLF	Financial Select Sector Aggressive Push	Pair Corr
0.77	VFH	Vanguard Financials Index	Pair Corr
0.96	KRE	SPDR SP Regional Aggressive Push	Pair Corr
0.95	KBE	SPDR SP Bank	Pair Corr
0.74	IYF	iShares Financials ETF	Pair Corr
0.77	FNCL	Fidelity MSCI Financials	Pair Corr
0.78	IYG	iShares Financial	Pair Corr
0.95	FXO	First Trust Financials	Pair Corr
0.97	IAT	iShares Regional Banks	Pair Corr
0.97	VTI	Vanguard Total Stock	Pair Corr
0.96	SPY	SPDR SP 500	Pair Corr
0.96	IVV	iShares Core SP	Pair Corr
0.93	VUG	Vanguard Growth Index	Pair Corr
0.95	VO	Vanguard Mid Cap	Pair Corr
0.7	MSFT	Microsoft	Pair Corr
0.7	WMT	Walmart	Pair Corr
0.91	BAC	Bank of America Aggressive Push	Pair Corr
0.67	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.76	HPQ	HP Inc	Pair Corr
0.61	AA	Alcoa Corp	Pair Corr

Moving against SPDR Etf

0.53	EUFN	iShares MSCI Europe	Pair Corr
0.45	BND	Vanguard Total Bond	Pair Corr
0.31	VEA	Vanguard FTSE Developed	Pair Corr
0.57	VZ	Verizon Communications	Pair Corr
0.55	TRV	The Travelers Companies	Pair Corr
0.53	JNJ	Johnson Johnson	Pair Corr
0.52	KO	Coca Cola	Pair Corr
0.42	MCD	McDonalds	Pair Corr
0.4	T	ATT Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	KIE	IAI	KBE	IYG	IXG
KIE		0.15	0.04	0.3	0.81	KIE
IAI	0.15		0.93	0.98	0.55	IAI
KBE	0.04	0.93		0.87	0.32	KBE
IYG	0.3	0.98	0.87		0.69	IYG
IXG	0.81	0.55	0.32	0.69		IXG
	KIE	IAI	KBE	IYG	IXG

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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
KIE	0.84	0.09	0.11	0.05	1.01	(0.94)	1.85	(1.33)	4.21
IAI	1.08	0.00	0.00	(0.07)	0.00	0.00	2.00	(2.73)	7.83
KBE	1.12	(0.07)	0.00	(0.14)	0.00	0.00	1.64	(3.01)	7.16
IYG	0.90	0.04	0.00	(0.04)	0.00	0.00	1.50	(2.49)	6.91
IXG	0.71	0.12	0.12	0.07	1.02	(0.71)	1.45	(2.33)	4.91

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