SPDR Bloomberg Correlations

SJNK Etf

USD 25.62 0.05 0.20%

The current 90-days correlation between SPDR Bloomberg Short and PIMCO 0 5 Year is 0.86 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR Bloomberg moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR Bloomberg Short moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR Bloomberg Correlation With Market

Very weak diversification

The correlation between SPDR Bloomberg Short and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Bloomberg Short 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 Bloomberg Short. 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 SPDR Etf

0.96	HYG	iShares iBoxx High	Pair Corr
0.96	USHY	iShares Broad USD	Pair Corr
0.94	JNK	SPDR Bloomberg High	Pair Corr
1.0	SHYG	iShares 0 5	Pair Corr
0.96	HYLB	Xtrackers USD High	Pair Corr
0.76	ANGL	VanEck Fallen Angel	Pair Corr
0.84	FALN	iShares Fallen Angels	Pair Corr
0.88	HYLS	First Trust Tactical	Pair Corr
0.87	VTI	Vanguard Total Stock	Pair Corr
0.87	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.87	IVV	iShares Core SP	Pair Corr
0.86	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.85	VUG	Vanguard Growth Index	Pair Corr
0.88	VO	Vanguard Mid Cap	Pair Corr
0.85	VB	Vanguard Small Cap	Pair Corr
0.86	T	ATT Inc Aggressive Push	Pair Corr
0.85	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.87	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.74	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.82	WMT	Walmart Aggressive Push	Pair Corr
0.73	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.7	BAC	Bank of America Aggressive Push	Pair Corr
0.83	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.73	DIS	Walt Disney Aggressive Push	Pair Corr
0.69	HPQ	HP Inc	Pair Corr
0.82	HD	Home Depot Sell-off Trend	Pair Corr

Moving against SPDR Etf

0.47	BND	Vanguard Total Bond	Pair Corr
0.4	VEA	Vanguard FTSE Developed	Pair Corr
0.82	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.7	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.66	KO	Coca Cola Sell-off Trend	Pair Corr

Related Correlations Analysis

	HYS	SHYG	BKLN	SRLN	ANGL
HYS		0.99	0.83	0.83	0.78	HYS
SHYG	0.99		0.84	0.85	0.76	SHYG
BKLN	0.83	0.84		0.99	0.36	BKLN
SRLN	0.83	0.85	0.99		0.35	SRLN
ANGL	0.78	0.76	0.36	0.35		ANGL
	HYS	SHYG	BKLN	SRLN	ANGL

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SPDR Bloomberg Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Bloomberg 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 Bloomberg'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
HYS	0.17	0.01	(0.47)	0.22	0.00	(0.19)	0.39	(0.31)	0.86
SHYG	0.14	0.01	(0.59)	0.17	0.00	(0.16)	0.28	(0.28)	0.73
BKLN	0.08	0.03	(0.82)	0.47	0.00	(0.12)	0.24	(0.10)	0.58
SRLN	0.08	0.02	(0.85)	0.38	0.00	(0.10)	0.22	(0.12)	0.55
ANGL	0.18	(0.01)	(0.50)	0.06	0.16	(0.22)	0.35	(0.35)	1.07

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