SSGA Active Correlations

MBNE Etf

USD 29.42 0.07 0.24%

The current 90-days correlation between SSGA Active Trust and BlackRock Intermediate Muni is 0.36 (i.e., Weak diversification). The correlation of SSGA Active 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.

SSGA Active Correlation With Market

Significant diversification

The correlation between SSGA Active Trust and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SSGA Active Trust 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 SSGA Active Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with SSGA Etf

0.91	MUB	iShares National Muni	Pair Corr
0.92	VTEB	Vanguard Tax Exempt	Pair Corr
0.96	FMB	First Trust Managed	Pair Corr
0.92	ITM	VanEck Intermediate Muni	Pair Corr
0.94	MMIT	IQ MacKay Municipal	Pair Corr
0.89	HMOP	Hartford Municipal	Pair Corr
0.89	TAXF	American Century Div	Pair Corr
0.95	JMUB	JPMorgan Municipal	Pair Corr
0.89	MUST	Columbia Multi Sector	Pair Corr
0.94	MINO	PIMCO ETF Trust	Pair Corr
0.77	FXY	Invesco CurrencyShares	Pair Corr
0.77	PMBS	PIMCO Mortgage Backed	Pair Corr
0.76	JNJ	Johnson Johnson	Pair Corr
0.71	VZ	Verizon Communications	Pair Corr
0.68	CSCO	Cisco Systems	Pair Corr
0.78	PG	Procter Gamble	Pair Corr
0.78	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.74	MCD	McDonalds	Pair Corr

Moving against SSGA Etf

0.48	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.64	AA	Alcoa Corp	Pair Corr
0.6	MRK	Merck Company	Pair Corr
0.52	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	INMU	HYBL	LQIG	OBND	MBND
INMU		0.72	0.93	0.95	0.92	INMU
HYBL	0.72		0.59	0.7	0.61	HYBL
LQIG	0.93	0.59		0.97	0.87	LQIG
OBND	0.95	0.7	0.97		0.89	OBND
MBND	0.92	0.61	0.87	0.89		MBND
	INMU	HYBL	LQIG	OBND	MBND

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SSGA Active Constituents Risk-Adjusted Indicators

There is a big difference between SSGA Etf performing well and SSGA Active 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 SSGA Active'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
INMU	0.19	0.00	0.24	(0.12)	0.23	(0.21)	0.39	(0.38)	1.62
HYBL	0.15	0.01	0.28	(0.02)	0.18	(0.15)	0.28	(0.35)	0.96
LQIG	0.31	0.02	0.20	0.09	0.34	(0.32)	0.65	(0.54)	1.81
OBND	0.17	0.02	0.31	0.10	0.18	(0.18)	0.31	(0.35)	0.86
MBND	0.17	(0.01)	0.00	(0.73)	0.00	0.00	0.33	(0.37)	0.95

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