SPDR SSGA Correlations

MYCN Etf

23.84 0.06 0.25%

The current 90-days correlation between SPDR SSGA My2034 and iShares iBonds Dec is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR SSGA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR SSGA My2034 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR SSGA Correlation With Market

Average diversification

The correlation between SPDR SSGA My2034 and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SSGA My2034 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 My2034. 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

0.65	IBDS	iShares iBonds Dec	Pair Corr
0.77	DUKH	Ocean Park High	Pair Corr
0.79	SMI	VanEck Vectors ETF	Pair Corr
0.61	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.71	MRK	Merck Company Sell-off Trend	Pair Corr
0.7	HD	Home Depot	Pair Corr
0.66	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr

Moving against SPDR Etf

0.48	BSCO	Invesco BulletShares 2024	Pair Corr
0.48	IBDO	IShares	Pair Corr
0.48	IBDP	iShares iBonds Dec	Pair Corr
0.47	BSCN	Invesco	Pair Corr
0.44	BSCP	Invesco BulletShares 2025	Pair Corr
0.44	IBTD	IShares	Pair Corr
0.42	IBDQ	iShares iBonds Dec	Pair Corr
0.4	CSCO	Cisco Systems	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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