AAM SP Correlations

SPDV Etf  USD 32.83  0.02  0.06%   
The current 90-days correlation between AAM SP 500 and SPDR Portfolio Aggregate is 0.24 (i.e., Modest diversification). The correlation of AAM 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.

AAM SP Correlation With Market

Modest diversification

The correlation between AAM SP 500 and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AAM SP 500 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 AAM SP 500. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with AAM Etf

  0.97VOE Vanguard Mid CapPairCorr
  0.78SDY SPDR SP DividendPairCorr
  0.96IWS iShares Russell MidPairCorr
  0.92SPYD SPDR Portfolio SPPairCorr
  0.97COWZ Pacer Cash Cows Sell-off TrendPairCorr
  0.76IJJ iShares SP MidPairCorr
  0.91DON WisdomTree MidCapPairCorr
  0.83RPV Invesco SP 500PairCorr
  0.95PEY Invesco High YieldPairCorr
  0.9PKW Invesco BuyBack AchieversPairCorr
  0.68VZ Verizon Communications Fiscal Year End 28th of January 2025 PairCorr
  0.81CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.71TRV The Travelers Companies Earnings Call This WeekPairCorr
  0.87CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.66HPQ HP IncPairCorr
  0.84AA Alcoa Corp Earnings Call This WeekPairCorr

Moving against AAM Etf

  0.32PFE Pfizer Inc Aggressive PushPairCorr

Related Correlations Analysis

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   
DMDVEEMD
WBIYSPAB
SDEMSPAB
  
High negative correlations   
EEMDSPAB
WBIYEEMD
SDEMDMDV
DMDVSPAB
SDEMEEMD
DMDVWBIY

AAM SP Constituents Risk-Adjusted Indicators

There is a big difference between AAM Etf performing well and AAM 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 AAM 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.