SPDR SSGA Correlations

MYCF Etf

24.93 0.01 0.04%

The current 90-days correlation between SPDR SSGA My2026 and VanEck Vectors Moodys is 0.6 (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.

SPDR SSGA Correlation With Market

Modest diversification

The correlation between SPDR SSGA My2026 and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SSGA My2026 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 My2026. 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

0.93	BSCO	Invesco BulletShares 2024	Pair Corr
0.93	BSCN	Invesco	Pair Corr
0.93	IBDO	IShares	Pair Corr
0.93	IBDP	iShares iBonds Dec	Pair Corr
0.94	BSCP	Invesco BulletShares 2025	Pair Corr
0.96	IBDQ	iShares iBonds Dec	Pair Corr
0.88	BSCQ	Invesco BulletShares 2026	Pair Corr
0.93	IBDR	iShares iBonds Dec	Pair Corr
0.94	IBTD	IShares	Pair Corr
0.88	WINN	Harbor Long Term	Pair Corr
0.88	VOX	Vanguard Communication	Pair Corr
0.82	ROKT	SPDR SP Kensho	Pair Corr
0.81	DIS	Walt Disney	Pair Corr
0.91	WMT	Walmart	Pair Corr
0.61	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.79	CSCO	Cisco Systems	Pair Corr
0.67	MSFT	Microsoft	Pair Corr
0.85	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.78	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr

Moving against SPDR Etf

0.91	FNGD	MicroSectors FANG Index	Pair Corr
0.87	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.83	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.67	PFE	Pfizer Inc Sell-off Trend	Pair Corr
0.6	HPQ	HP Inc	Pair Corr
0.56	MRK	Merck Company Sell-off Trend	Pair Corr
0.4	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.33	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.72	-0.52	-0.48	0.48	0.39	0.53	0.2	-0.07	-0.56	META
MSFT	0.72		-0.67	-0.42	0.6	-0.03	0.62	0.35	-0.27	-0.7	MSFT
UBER	-0.52	-0.67		0.56	-0.74	0.17	-0.78	-0.54	0.63	0.81	UBER
F	-0.48	-0.42	0.56		-0.13	-0.15	-0.15	0.18	0.04	0.74	F
T	0.48	0.6	-0.74	-0.13		-0.18	0.88	0.77	-0.65	-0.55	T
A	0.39	-0.03	0.17	-0.15	-0.18		-0.22	-0.44	0.65	0.18	A
CRM	0.53	0.62	-0.78	-0.15	0.88	-0.22		0.85	-0.75	-0.59	CRM
JPM	0.2	0.35	-0.54	0.18	0.77	-0.44	0.85		-0.82	-0.38	JPM
MRK	-0.07	-0.27	0.63	0.04	-0.65	0.65	-0.75	-0.82		0.45	MRK
XOM	-0.56	-0.7	0.81	0.74	-0.55	0.18	-0.59	-0.38	0.45		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

CRM	+ 0.88	T
JPM	+ 0.85	CRM
XOM	+ 0.81	UBER
JPM	+ 0.77	T
XOM	+ 0.74	F
MSFT	+ 0.72	META

High negative correlations

MRK	- 0.82	JPM
CRM	- 0.78	UBER
MRK	- 0.75	CRM
T	- 0.74	UBER
XOM	- 0.7	MSFT
UBER	- 0.67	MSFT

SPDR SSGA Competition 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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.26	0.07	0.04	0.32	1.44	(1.43)	2.62	(3.15)	7.43
MSFT	0.90	(0.04)	0.00	2.27	0.00	0.00	1.78	(2.23)	8.14
UBER	1.72	(0.19)	0.00	(0.96)	0.00	0.00	2.67	(5.35)	20.41
F	1.39	(0.10)	0.00	(0.34)	0.00	0.00	2.38	(2.81)	11.21
T	0.95	0.08	0.05	(0.34)	1.16	(0.98)	1.93	(1.99)	7.95
A	1.12	(0.12)	0.00	(0.34)	0.00	0.00	2.43	(2.42)	8.06
CRM	1.47	0.33	0.20	6.67	1.34	(1.70)	3.18	(2.88)	14.80
JPM	1.06	0.26	0.19	(17.88)	1.04	(1.25)	1.99	(1.42)	15.87
MRK	0.98	(0.20)	0.00	(1.81)	0.00	0.00	1.72	(2.17)	5.17
XOM	0.77	(0.15)	0.00	(0.76)	0.00	0.00	1.71	(2.14)	6.06

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