SP Global Correlations

SPGI Stock

USD 539.69 2.63 0.48%

The current 90-days correlation between SP Global and Nasdaq Inc is 0.5 (i.e., Very weak diversification). The correlation of SP Global 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.

SP Global Correlation With Market

Weak diversification

The correlation between SP Global and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SP Global 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 SP Global. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

For more detail on how to invest in SPGI Stock please use our How to Invest in SP Global guide.

Moving together with SPGI Stock

0.89	ICE	Intercontinental Exchange	Pair Corr
0.95	MCO	Moodys	Pair Corr
0.81	NDAQ	Nasdaq Inc	Pair Corr
0.75	CBOE	Cboe Global Markets	Pair Corr
0.64	V	Visa Class A	Pair Corr
0.69	AC	Associated Capital Normal Trading	Pair Corr
0.79	BK	Bank of New York	Pair Corr
0.82	BN	Brookfield Corp	Pair Corr
0.77	FG	FG Annuities Life Earnings Call This Week	Pair Corr
0.78	GS	Goldman Sachs Group	Pair Corr

Moving against SPGI Stock

0.57	VALU	Value Line	Pair Corr
0.42	LC	LendingClub Corp Buyout Trend	Pair Corr

Related Correlations Analysis

	MSCI	NDAQ	ICE	CME	MCO	FDS
MSCI		0.07	-0.22	-0.2	-0.03	0.49	MSCI
NDAQ	0.07		0.84	0.4	0.81	0.15	NDAQ
ICE	-0.22	0.84		0.45	0.87	-0.01	ICE
CME	-0.2	0.4	0.45		0.63	-0.46	CME
MCO	-0.03	0.81	0.87	0.63		-0.04	MCO
FDS	0.49	0.15	-0.01	-0.46	-0.04		FDS
	MSCI	NDAQ	ICE	CME	MCO	FDS

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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

MCO	+ 0.87	ICE
ICE	+ 0.84	NDAQ
MCO	+ 0.81	NDAQ
MCO	+ 0.63	CME
FDS	+ 0.49	MSCI
CME	+ 0.45	ICE

High negative correlations

FDS	- 0.46	CME
ICE	- 0.22	MSCI
CME	- 0.2	MSCI
FDS	- 0.04	MCO
MCO	- 0.03	MSCI
FDS	- 0.01	ICE

Risk-Adjusted Indicators

There is a big difference between SPGI Stock performing well and SP Global Company 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 SP Global'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
MSCI	1.00	(0.05)	0.00	(0.07)	0.00	0.00	1.56	(2.40)	8.21
NDAQ	0.86	0.04	0.03	0.07	1.24	(0.80)	1.40	(1.94)	4.92
ICE	0.85	0.10	0.09	0.17	0.92	(0.96)	2.06	(1.66)	4.85
CME	0.81	0.17	0.13	6.16	0.99	(0.80)	1.94	(2.04)	5.06
MCO	1.02	0.14	0.10	0.18	1.20	(1.08)	1.87	(1.82)	6.87
FDS	0.84	(0.07)	0.00	(0.23)	0.00	0.00	1.61	(1.45)	5.61

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