SPDR SP Correlations

Etfs . USA . 
Etf . SPDR SP 400
MDYG Etf  USD 81.59  1.35  1.68%   
The current 90-days correlation between SPDR SP 400 and SPDR SP 400 is 0.88 (i.e., Very 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

Good diversification

The correlation between SPDR SP 400 and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP 400 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 400. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with SPDR Etf

  0.91VOT Vanguard Mid CapPairCorr
  0.93IWP iShares Russell MidPairCorr
  0.92ARKK ARK Innovation ETFPairCorr
  1.0IJK iShares SP MidPairCorr
  0.86JKH iShares Morningstar MidPairCorr
  0.95KOMP SPDR Kensho NewPairCorr
  0.95IMCG iShares Morningstar MidPairCorr
  0.83FPX First Trust EquityPairCorr
  1.0IVOG Vanguard SP MidPairCorr
  0.89MPAY Akros Monthly PayoutPairCorr
  0.77CPST Calamos ETF TrustPairCorr
  0.75BA Boeing Buyout TrendPairCorr
  0.63JPM JPMorgan ChasePairCorr
  0.65HD Home DepotPairCorr
  0.8CAT CaterpillarPairCorr
  0.92BAC Bank of America Aggressive PushPairCorr
  0.74DIS Walt DisneyPairCorr

Moving against SPDR Etf

  0.91BITI ProShares TrustPairCorr
  0.67SPAQ Horizon Kinetics SPACPairCorr
  0.63PULS PGIM Ultra ShortPairCorr
  0.73VZ Verizon Communications Aggressive PushPairCorr
  0.63TRV The Travelers CompaniesPairCorr

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   
SPMD
+ 0.99
SLYG
SPMD
+ 0.98
MDYV
SLYV
+ 0.98
SLYG
SPMD
+ 0.97
SLYV
SLYG
+ 0.95
MDYV
SLYV
+ 0.92
MDYV
  
High negative correlations   
SPMD
- 0.0
SLY
SLY
- 0.0
SLYV
SLY
- 0.0
SLYG
SLY
- 0.0
MDYV

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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