SP Funds Correlations

SPSK Etf

USD 18.05 0.03 0.17%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SP Funds moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SP Funds Dow moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SP Funds Correlation With Market

Significant diversification

The correlation between SP Funds Dow and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SP Funds Dow 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 Funds Dow. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with SPSK Etf

0.84	IGOV	iShares International	Pair Corr
0.85	BWX	SPDR Bloomberg Inter	Pair Corr
0.71	WIP	SPDR FTSE International	Pair Corr
0.71	JPIB	JPMorgan International	Pair Corr
0.77	BWZ	SPDR Bloomberg Short	Pair Corr
0.81	PICB	Invesco International	Pair Corr
0.78	GRNB	VanEck Green Bond	Pair Corr
0.74	ISHG	iShares 1 3	Pair Corr
0.8	PMBS	PIMCO Mortgage Backed	Pair Corr
0.8	YCL	ProShares Ultra Yen Potential Growth	Pair Corr
0.77	FXY	Invesco CurrencyShares	Pair Corr
0.66	ULE	ProShares Ultra Euro	Pair Corr
0.65	AAXJ	iShares MSCI All	Pair Corr
0.7	MYMH	SPDR SSGA My2028	Pair Corr
0.85	UTWY	US Treasury 20	Pair Corr
0.81	VEMGF	Vanguard Funds Public	Pair Corr
0.88	AGIH	iShares ETF Trust	Pair Corr
0.87	CGSM	Capital Group Fixed	Pair Corr
0.67	IROC	IROC Symbol Change	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.1	0.63	-0.5	0.38	0.38	0.2	0.89	-0.76	0.09	META
MSFT	-0.1		-0.64	0.23	-0.78	0.66	0.89	0.04	0.47	-0.4	MSFT
UBER	0.63	-0.64		-0.45	0.79	-0.23	-0.55	0.57	-0.86	0.48	UBER
F	-0.5	0.23	-0.45		-0.14	0.06	0.06	-0.39	0.59	0.26	F
T	0.38	-0.78	0.79	-0.14		-0.55	-0.69	0.22	-0.67	0.52	T
A	0.38	0.66	-0.23	0.06	-0.55		0.76	0.6	0.12	-0.18	A
CRM	0.2	0.89	-0.55	0.06	-0.69	0.76		0.27	0.28	-0.46	CRM
JPM	0.89	0.04	0.57	-0.39	0.22	0.6	0.27		-0.65	0.12	JPM
MRK	-0.76	0.47	-0.86	0.59	-0.67	0.12	0.28	-0.65		-0.31	MRK
XOM	0.09	-0.4	0.48	0.26	0.52	-0.18	-0.46	0.12	-0.31		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.89	META
CRM	+ 0.89	MSFT
T	+ 0.79	UBER
CRM	+ 0.76	A
A	+ 0.66	MSFT
UBER	+ 0.63	META

High negative correlations

MRK	- 0.86	UBER
T	- 0.78	MSFT
MRK	- 0.76	META
CRM	- 0.69	T
MRK	- 0.67	T
MRK	- 0.65	JPM

SP Funds Competition Risk-Adjusted Indicators

There is a big difference between SPSK Etf performing well and SP Funds 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 SP Funds' 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
META	1.59	(0.03)	0.00	(0.11)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.11	(0.16)	0.00	(0.31)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.87	0.33	0.15	0.56	2.19	(2.00)	4.72	(3.13)	12.75
F	1.44	0.10	0.04	0.02	2.20	(1.39)	2.71	(2.89)	10.14
T	1.05	0.27	0.17	0.41	1.61	(1.12)	1.90	(1.75)	11.66
A	1.14	(0.14)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.40	(0.27)	0.00	(0.32)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.11	0.06	0.00	(0.02)	0.00	0.00	1.99	(3.35)	6.85
MRK	1.16	(0.07)	0.00	0.80	0.00	0.00	2.07	(1.80)	11.58
XOM	1.06	0.09	0.09	0.13	1.38	(1.10)	2.55	(2.36)	5.89

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