SPDR SSGA Correlations

LGLV Etf

USD 171.19 0.92 0.53%

The current 90-days correlation between SPDR SSGA Large and SPDR SSGA Small is 0.73 (i.e., Poor diversification). The correlation of SPDR SSGA 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 SSGA Correlation With Market

Poor diversification

The correlation between SPDR SSGA Large and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SSGA Large 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 SSGA Large. 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 economic analysis.

Moving together with SPDR Etf

0.76	AMZA	InfraCap MLP ETF	Pair Corr
0.64	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.77	KO	Coca Cola	Pair Corr
0.8	GE	GE Aerospace	Pair Corr
0.7	MCD	McDonalds	Pair Corr
0.81	IBM	International Business	Pair Corr
0.71	PG	Procter Gamble	Pair Corr
0.78	CSCO	Cisco Systems	Pair Corr
0.86	T	ATT Inc Earnings Call This Week	Pair Corr

Moving against SPDR Etf

0.55	USD	ProShares Ultra Semi	Pair Corr
0.36	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.34	NAIL	Direxion Daily Homeb Downward Rally	Pair Corr
0.62	MRK	Merck Company	Pair Corr
0.52	AA	Alcoa Corp	Pair Corr
0.51	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	SMLV	QUS	XMLV	XSLV	MDYV
SMLV		0.75	0.64	0.88	0.85	SMLV
QUS	0.75		0.56	0.55	0.53	QUS
XMLV	0.64	0.56		0.68	0.51	XMLV
XSLV	0.88	0.55	0.68		0.8	XSLV
MDYV	0.85	0.53	0.51	0.8		MDYV
	SMLV	QUS	XMLV	XSLV	MDYV

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SPDR SSGA Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR SSGA 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 SSGA'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
SMLV	0.82	(0.06)	(0.14)	1.59	(2.13)	4.86
QUS	0.58	(0.05)	0.36	1.10	(1.20)	3.13
XMLV	0.69	0.01	(0.06)	1.23	(1.40)	3.12
XSLV	0.73	(0.07)	(0.18)	1.31	(1.23)	3.70
MDYV	0.78	(0.05)	(0.13)	1.24	(1.86)	3.86

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