SPDR SP Correlations

KRE Etf

USD 57.26 0.03 0.05%

The current 90-days correlation between SPDR SP Regional and SPDR SP Bank 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 Regional and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Regional 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 Regional. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with SPDR Etf

0.67	XLF	Financial Select Sector Aggressive Push	Pair Corr
0.79	VFH	Vanguard Financials Index	Pair Corr
1.0	KBE	SPDR SP Bank	Pair Corr
0.81	IYF	iShares Financials ETF	Pair Corr
0.8	FNCL	Fidelity MSCI Financials	Pair Corr
0.8	IYG	iShares Financial	Pair Corr
0.96	FXO	First Trust Financials	Pair Corr
0.91	IAT	iShares Regional Banks	Pair Corr
0.95	VTI	Vanguard Total Stock	Pair Corr
0.9	SPY	SPDR SP 500	Pair Corr
0.91	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.65	VTV	Vanguard Value Index	Pair Corr
0.85	VUG	Vanguard Growth Index	Pair Corr
0.97	VO	Vanguard Mid Cap	Pair Corr
0.8	WMT	Walmart Aggressive Push	Pair Corr
0.85	BAC	Bank of America Sell-off Trend	Pair Corr
0.72	JPM	JPMorgan Chase	Pair Corr
0.72	HPQ	HP Inc	Pair Corr

Moving against SPDR Etf

0.4	EUFN	iShares MSCI Europe	Pair Corr
0.31	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.5	TRV	The Travelers Companies	Pair Corr
0.42	VZ	Verizon Communications	Pair Corr
0.36	JNJ	Johnson Johnson	Pair Corr
0.34	KO	Coca Cola	Pair Corr

Related Correlations Analysis

	KBE	XRT	XHB	XLF	XLI
KBE		0.74	0.76	0.71	0.81	KBE
XRT	0.74		0.84	0.18	0.48	XRT
XHB	0.76	0.84		0.22	0.64	XHB
XLF	0.71	0.18	0.22		0.79	XLF
XLI	0.81	0.48	0.64	0.79		XLI
	KBE	XRT	XHB	XLF	XLI

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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
KBE	1.12	(0.16)	0.00	1.50	0.00	0.00	1.64	(3.01)	7.16
XRT	0.99	(0.30)	0.00	1.28	0.00	0.00	1.45	(2.23)	4.94
XHB	1.24	(0.26)	0.00	1.84	0.00	0.00	2.28	(2.50)	5.70
XLF	0.80	0.07	0.06	0.00	1.20	(0.79)	1.47	(2.24)	6.07
XLI	0.77	0.01	0.00	(0.06)	0.00	0.00	1.38	(1.56)	4.25

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