SPDR Portfolio Correlations

Etfs . USA . 
Etf . SPDR Portfolio SP
SPSM Etf  USD 41.21  0.29  0.70%   
The current 90-days correlation between SPDR Portfolio SP and SPDR Russell Small is 0.01 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR Portfolio moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR Portfolio SP moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR Portfolio Correlation With Market

Poor diversification

The correlation between SPDR Portfolio SP and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Portfolio SP 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 Portfolio SP. 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 SPDR Etf

  0.99VB Vanguard Small CapPairCorr
  0.73IJR iShares Core SPPairCorr
  1.0IWM iShares Russell 2000PairCorr
  0.74VRTIX Vanguard Russell 2000PairCorr
  0.74VTWO Vanguard Russell 2000PairCorr
  1.0FNDA Schwab Fundamental SmallPairCorr
  0.73DFAS Dimensional Small CapPairCorr
  0.73VIOO Vanguard SP SmallPairCorr
  0.99PRFZ Invesco FTSE RAFIPairCorr
  0.93VTI Vanguard Total StockPairCorr
  0.91SPY SPDR SP 500PairCorr
  0.91IVV iShares Core SPPairCorr
  0.95VUG Vanguard Growth IndexPairCorr
  0.86VO Vanguard Mid CapPairCorr
  0.85MSFT MicrosoftPairCorr
  0.68BA BoeingPairCorr
  0.79CAT CaterpillarPairCorr
  0.87BAC Bank of AmericaPairCorr
  0.91HD Home DepotPairCorr
  0.8DIS Walt DisneyPairCorr

Moving against SPDR Etf

  0.69BND Vanguard Total BondPairCorr
  0.57VEA Vanguard FTSE DevelopedPairCorr
  0.37GDXU MicroSectors Gold MinersPairCorr
  0.75VZ Verizon CommunicationsPairCorr
  0.73JNJ Johnson JohnsonPairCorr
  0.72TRV The Travelers CompaniesPairCorr
  0.64T ATT Inc Earnings Call TomorrowPairCorr
  0.41XOM Exxon Mobil CorpPairCorr
  0.4PG Procter GamblePairCorr
  0.35INTC IntelPairCorr
  0.33IBM International BusinessPairCorr

Related Correlations Analysis

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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   
SLYV
+ 0.98
SPMD
SPEM
+ 0.88
SPDW
SPTM
+ 0.75
SPMD
SLYV
+ 0.73
SPTM
  
High negative correlations   
SLYV
- 0.62
SPDW
SPDW
- 0.49
SPMD
SLYV
- 0.48
SPEM
SPEM
- 0.4
SPMD
SPTM
- 0.27
SPDW
SPTM
- 0.17
SPEM

SPDR Portfolio Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Portfolio 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 Portfolio'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.

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