SPDR SSGA Correlations

SMLV Etf

USD 124.24 2.58 2.12%

The current 90-days correlation between SPDR SSGA Small and SPDR SSGA Large is 0.74 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

SPDR SSGA Correlation With Market

Very weak diversification

The correlation between SPDR SSGA Small 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 SSGA Small 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 SSGA Small. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with SPDR Etf

0.65	VBR	Vanguard Small Cap	Pair Corr
0.81	IWN	iShares Russell 2000	Pair Corr
0.64	IJJ	iShares SP Mid	Pair Corr
0.79	DFAT	Dimensional Targeted	Pair Corr
0.69	IJS	iShares SP Small	Pair Corr
0.77	DES	WisdomTree SmallCap Potential Growth	Pair Corr
0.64	MDYV	SPDR SP 400	Pair Corr
0.76	VTI	Vanguard Total Stock	Pair Corr
0.88	SPY	SPDR SP 500	Pair Corr
0.88	IVV	iShares Core SP	Pair Corr
0.77	VTV	Vanguard Value Index	Pair Corr
0.77	VUG	Vanguard Growth Index	Pair Corr
0.91	VO	Vanguard Mid Cap	Pair Corr
0.64	VB	Vanguard Small Cap	Pair Corr
0.62	BAC	Bank of America	Pair Corr
0.8	JPM	JPMorgan Chase	Pair Corr
0.7	AXP	American Express	Pair Corr

Related Correlations Analysis

	LGLV	XSLV	XMLV	QEFA	VLU
LGLV		0.17	0.6	0.86	0.41	LGLV
XSLV	0.17		0.7	-0.14	0.73	XSLV
XMLV	0.6	0.7		0.36	0.68	XMLV
QEFA	0.86	-0.14	0.36		0.07	QEFA
VLU	0.41	0.73	0.68	0.07		VLU
	LGLV	XSLV	XMLV	QEFA	VLU

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

QEFA	+ 0.86	LGLV
VLU	+ 0.73	XSLV
XMLV	+ 0.7	XSLV
VLU	+ 0.68	XMLV
XMLV	+ 0.6	LGLV
VLU	+ 0.41	LGLV

High negative correlations

QEFA

- 0.14

XSLV

SPDR SSGA Constituents 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
LGLV	0.63	0.06	0.13	0.01	0.83	(0.63)	1.14	(1.43)	2.86
XSLV	0.75	(0.12)	0.00	(0.86)	0.00	0.00	1.31	(1.23)	3.50
XMLV	0.70	(0.04)	0.00	(0.44)	0.00	0.00	1.23	(1.40)	3.11
QEFA	0.67	0.18	0.28	0.28	0.69	(0.76)	1.52	(1.18)	4.31
VLU	0.67	(0.06)	0.00	(0.59)	0.00	0.00	1.00	(1.57)	3.44

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC