SPDR SP Correlations

SLYV Etf

USD 87.57 0.03 0.03%

The current 90-days correlation between SPDR SP 600 and Dimensional ETF Trust is 0.64 (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

Very weak diversification

The correlation between SPDR SP 600 and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP 600 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 600. 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

0.95	VBR	Vanguard Small Cap	Pair Corr
0.97	IWN	iShares Russell 2000	Pair Corr
0.96	DFAT	Dimensional Targeted	Pair Corr
1.0	IJS	iShares SP Small	Pair Corr
0.98	AVUV	Avantis Small Cap	Pair Corr
0.97	DES	WisdomTree SmallCap	Pair Corr
0.9	MDYV	SPDR SP 400	Pair Corr
0.91	CALF	Pacer Small Cap	Pair Corr
0.94	REGL	ProShares SP MidCap	Pair Corr
0.85	DUKH	Ocean Park High	Pair Corr
0.78	SMI	VanEck Vectors ETF	Pair Corr
0.76	HD	Home Depot	Pair Corr
0.83	CAT	Caterpillar Sell-off Trend	Pair Corr
0.69	XOM	Exxon Mobil Corp	Pair Corr
0.68	PG	Procter Gamble	Pair Corr
0.8	TRV	The Travelers Companies	Pair Corr

Moving against SPDR Etf

0.62	BA	Boeing	Pair Corr
0.42	PFE	Pfizer Inc	Pair Corr

Related Correlations Analysis

	DISV	VB	MMSC	VIOG	VIOV	VIOO	DWAS	VTWG	VTWV
DISV		0.43	0.25	0.28	0.19	0.24	0.15	0.35	0.24	DISV
VB	0.43		0.95	0.95	0.93	0.95	0.85	0.97	0.91	VB
MMSC	0.25	0.95		0.94	0.92	0.94	0.89	0.97	0.9	MMSC
VIOG	0.28	0.95	0.94		0.96	0.99	0.96	0.96	0.99	VIOG
VIOV	0.19	0.93	0.92	0.96		0.99	0.92	0.95	0.97	VIOV
VIOO	0.24	0.95	0.94	0.99	0.99		0.95	0.97	0.99	VIOO
DWAS	0.15	0.85	0.89	0.96	0.92	0.95		0.92	0.96	DWAS
VTWG	0.35	0.97	0.97	0.96	0.95	0.97	0.92		0.94	VTWG
VTWV	0.24	0.91	0.9	0.99	0.97	0.99	0.96	0.94		VTWV
	DISV	VB	MMSC	VIOG	VIOV	VIOO	DWAS	VTWG	VTWV

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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
DISV	0.58	0.06	0.06	0.11	0.78	(0.56)	1.18	(1.20)	3.54
VB	0.76	(0.03)	0.00	(0.04)	0.00	0.00	1.50	(1.19)	5.68
MMSC	1.03	(0.09)	0.00	(0.12)	0.00	0.00	1.81	(2.04)	6.38
VIOG	0.83	(0.08)	0.00	(0.11)	0.00	0.00	1.64	(1.46)	5.64
VIOV	0.82	(0.09)	0.00	(0.11)	0.00	0.00	1.55	(1.81)	6.12
VIOO	0.78	(0.08)	0.00	(0.10)	0.00	0.00	1.60	(1.46)	6.03
DWAS	1.22	(0.14)	0.00	(0.15)	0.00	0.00	2.20	(2.45)	7.53
VTWG	0.98	(0.07)	0.00	(0.09)	0.00	0.00	1.90	(1.93)	6.37
VTWV	0.81	(0.09)	0.00	(0.12)	0.00	0.00	1.61	(1.50)	6.14

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