SPDR SP Correlations

SIMS Etf

USD 37.09 0.45 1.20%

The current 90-days correlation between SPDR SP Kensho and Global X Infrastructure is 0.67 (i.e., 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. If the correlation is 0, the equities are not correlated; they are entirely random.

SPDR SP Correlation With Market

Average diversification

The correlation between SPDR SP Kensho and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Kensho and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SPDR SP Kensho. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with SPDR Etf

0.92	PAVE	Global X Infrastructure	Pair Corr
0.91	IFRA	iShares Infrastructure	Pair Corr
0.72	GII	SPDR SP Global	Pair Corr
0.63	TOLZ	ProShares DJ Brookfield	Pair Corr
1.0	XKII	SPDR Kensho Intelligent	Pair Corr
0.73	NVDL	GraniteShares 15x Long Buyout Trend	Pair Corr
0.73	NVDX	T Rex 2X Buyout Trend	Pair Corr
0.75	NVDU	Direxion Daily NVDA	Pair Corr
0.66	USD	ProShares Ultra Semi	Pair Corr
0.87	FNGU	MicroSectors FANG Index Buyout Trend	Pair Corr
0.72	FBL	GraniteShares 15x Long	Pair Corr
0.77	BITX	Volatility Shares Trust Buyout Trend	Pair Corr
0.82	DAPP	VanEck Digital Trans	Pair Corr
0.8	WMT	Walmart	Pair Corr
0.91	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.84	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.84	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.84	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.92	CSCO	Cisco Systems	Pair Corr
0.77	DIS	Walt Disney Sell-off Trend	Pair Corr
0.85	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.87	HD	Home Depot	Pair Corr
0.7	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.62	HPQ	HP Inc	Pair Corr

Moving against SPDR Etf

0.75	INFR	ClearBridge Sustainable	Pair Corr
0.71	BLLD	JP Morgan Exchange	Pair Corr
0.59	WTID	UBS ETRACS	Pair Corr
0.37	NFRA	FlexShares STOXX Global Potential Growth	Pair Corr
0.71	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.68	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr

Related Correlations Analysis

	PAVE	IGF	NFRA	IFRA	GII	TOLZ	SIMS	BLLD	XKII
PAVE		0.55	-0.44	0.99	0.63	0.66	0.92	-0.8	0.92	PAVE
IGF	0.55		0.34	0.6	0.86	0.73	0.6	-0.08	0.6	IGF
NFRA	-0.44	0.34		-0.39	0.14	0.1	-0.37	0.85	-0.37	NFRA
IFRA	0.99	0.6	-0.39		0.68	0.75	0.91	-0.77	0.91	IFRA
GII	0.63	0.86	0.14	0.68		0.81	0.72	-0.21	0.72	GII
TOLZ	0.66	0.73	0.1	0.75	0.81		0.63	-0.33	0.63	TOLZ
SIMS	0.92	0.6	-0.37	0.91	0.72	0.63		-0.71	1.0	SIMS
BLLD	-0.8	-0.08	0.85	-0.77	-0.21	-0.33	-0.71		-0.71	BLLD
XKII	0.92	0.6	-0.37	0.91	0.72	0.63	1.0	-0.71		XKII
	PAVE	IGF	NFRA	IFRA	GII	TOLZ	SIMS	BLLD	XKII

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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

XKII	+ 1.0	SIMS
IFRA	+ 0.99	PAVE
SIMS	+ 0.92	PAVE
XKII	+ 0.92	PAVE
SIMS	+ 0.91	IFRA
XKII	+ 0.91	IFRA

High negative correlations

BLLD	- 0.8	PAVE
BLLD	- 0.77	IFRA
XKII	- 0.71	BLLD
BLLD	- 0.71	SIMS
NFRA	- 0.44	PAVE
IFRA	- 0.39	NFRA

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PAVE	0.82	0.20	0.17	0.71	0.39	(1.04)	1.90	(1.14)	8.25
IGF	0.55	0.01	(0.11)	0.15	0.63	(0.57)	1.11	(1.36)	2.96
NFRA	0.43	(0.07)	0.00	(0.15)	0.00	0.00	0.73	(1.04)	2.16
IFRA	0.69	0.15	0.10	0.61	0.35	(0.81)	1.80	(0.85)	5.85
GII	0.55	0.02	(0.10)	0.22	0.70	(0.54)	1.05	(1.32)	2.72
TOLZ	0.53	(0.01)	(0.15)	0.06	0.68	(0.52)	1.15	(1.17)	3.21
SIMS	0.77	0.18	0.09	0.92	0.79	(0.80)	1.81	(1.34)	4.31
BLLD	0.56	(0.10)	0.00	2.02	0.00	0.00	0.91	(1.26)	4.19
XKII	0.77	0.18	0.09	0.93	0.77	(0.80)	1.84	(1.34)	4.31

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